Hodges Capital Management Inc. Cuts Stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Hodges Capital Management Inc. reduced its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 20.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 167,071 shares of the company’s stock after selling 43,399 shares during the period. Hodges Capital Management Inc.’s holdings in Academy Sports and Outdoors were worth $11,284,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ASO. Norges Bank purchased a new stake in shares of Academy Sports and Outdoors in the fourth quarter worth $47,768,000. Point72 Asset Management L.P. grew its stake in shares of Academy Sports and Outdoors by 36.6% in the fourth quarter. Point72 Asset Management L.P. now owns 2,089,067 shares of the company’s stock worth $137,878,000 after acquiring an additional 559,414 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Academy Sports and Outdoors in the fourth quarter worth $25,933,000. LSV Asset Management grew its stake in shares of Academy Sports and Outdoors by 28.4% in the fourth quarter. LSV Asset Management now owns 1,652,541 shares of the company’s stock worth $109,068,000 after acquiring an additional 365,855 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Academy Sports and Outdoors by 953.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 403,467 shares of the company’s stock valued at $26,629,000 after purchasing an additional 365,168 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ASO. Morgan Stanley lowered their price target on Academy Sports and Outdoors from $65.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 12th. JPMorgan Chase & Co. upped their price target on Academy Sports and Outdoors from $55.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. UBS Group downgraded Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and lowered their price target for the company from $81.00 to $58.00 in a report on Wednesday, June 12th. Jefferies Financial Group started coverage on Academy Sports and Outdoors in a report on Friday, April 12th. They issued a “buy” rating and a $85.00 target price on the stock. Finally, Bank of America downgraded Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and lowered their target price for the company from $75.00 to $63.00 in a report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Academy Sports and Outdoors currently has an average rating of “Moderate Buy” and an average price target of $66.93.

Academy Sports and Outdoors Price Performance

Shares of NASDAQ:ASO traded down $0.04 during trading on Friday, hitting $53.25. 3,435,226 shares of the company’s stock were exchanged, compared to its average volume of 2,143,467. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.62 and a quick ratio of 0.41. Academy Sports and Outdoors, Inc. has a 52-week low of $42.83 and a 52-week high of $75.73. The business’s 50-day simple moving average is $55.51 and its 200 day simple moving average is $62.08. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 8.14, a PEG ratio of 0.90 and a beta of 1.37.

Academy Sports and Outdoors (NASDAQ:ASO) last released its quarterly earnings results on Tuesday, June 11th. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.11). The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Academy Sports and Outdoors had a net margin of 8.17% and a return on equity of 27.18%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.19 EPS. As a group, equities analysts predict that Academy Sports and Outdoors, Inc. will post 6.4 EPS for the current year.

Academy Sports and Outdoors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Thursday, June 20th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Thursday, June 20th. Academy Sports and Outdoors’s dividend payout ratio is presently 6.73%.

Insider Buying and Selling at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $60.00, for a total transaction of $72,000.00. Following the completion of the transaction, the director now owns 7,870 shares in the company, valued at approximately $472,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.19% of the stock is currently owned by company insiders.

Academy Sports and Outdoors Profile

Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational retailer in the United States. The company outdoor division comprises camping products, such as coolers and drinkware, and camping accessories and equipment,; fishing products, including marine equipment and fishing rods, reels, and baits and equipment; and hunting products, which includes firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, gun safes, optics, airguns, and hunting equipment.