Geode Capital Management LLC Raises Holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Geode Capital Management LLC boosted its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,023,192 shares of the company’s stock after buying an additional 50,715 shares during the period. Geode Capital Management LLC’s holdings in Academy Sports and Outdoors were worth $118,092,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new position in shares of Academy Sports and Outdoors in the 3rd quarter worth $28,000. V Square Quantitative Management LLC bought a new position in Academy Sports and Outdoors in the third quarter worth about $40,000. Farther Finance Advisors LLC lifted its position in shares of Academy Sports and Outdoors by 98.4% during the third quarter. Farther Finance Advisors LLC now owns 738 shares of the company’s stock valued at $43,000 after buying an additional 366 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Academy Sports and Outdoors in the 3rd quarter valued at about $58,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Academy Sports and Outdoors by 53.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,205 shares of the company’s stock worth $70,000 after buying an additional 421 shares during the last quarter.

Academy Sports and Outdoors Stock Performance

ASO opened at $56.01 on Wednesday. Academy Sports and Outdoors, Inc. has a twelve month low of $44.73 and a twelve month high of $75.73. The firm has a market capitalization of $3.89 billion, a PE ratio of 9.20, a PEG ratio of 1.06 and a beta of 1.31. The company has a current ratio of 1.57, a quick ratio of 0.41 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average price is $51.43 and its 200 day moving average price is $53.41.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its earnings results on Tuesday, December 10th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.30). Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the firm earned $1.38 earnings per share. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, sell-side analysts expect that Academy Sports and Outdoors, Inc. will post 5.92 EPS for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, December 18th will be issued a dividend of $0.11 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.44 annualized dividend and a dividend yield of 0.79%. Academy Sports and Outdoors’s dividend payout ratio is presently 7.22%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ASO shares. TD Cowen raised their target price on shares of Academy Sports and Outdoors from $54.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, September 11th. Jefferies Financial Group dropped their target price on Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Truist Financial upped their target price on Academy Sports and Outdoors from $50.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Wells Fargo & Company boosted their price target on Academy Sports and Outdoors from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. Finally, Evercore ISI lowered shares of Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and decreased their price objective for the company from $65.00 to $60.00 in a research report on Thursday, October 3rd. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Academy Sports and Outdoors presently has a consensus rating of “Hold” and an average price target of $61.07.

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.