Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Increases Dividend to $0.11 Per Share

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) declared a quarterly dividend on Thursday, March 7th, Zacks reports. Stockholders of record on Tuesday, March 26th will be given a dividend of 0.11 per share on Thursday, April 18th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Monday, March 25th. This is a positive change from Academy Sports and Outdoors’s previous quarterly dividend of $0.09.

Academy Sports and Outdoors has a dividend payout ratio of 4.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Academy Sports and Outdoors to earn $8.51 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 4.2%.

Academy Sports and Outdoors Stock Down 0.5 %

Shares of ASO opened at $64.11 on Friday. The company has a market cap of $4.75 billion, a PE ratio of 9.54, a P/E/G ratio of 0.87 and a beta of 1.38. The business has a fifty day moving average of $68.00 and a 200 day moving average of $57.53. Academy Sports and Outdoors has a 52-week low of $42.83 and a 52-week high of $75.73. The company has a quick ratio of 0.34, a current ratio of 1.87 and a debt-to-equity ratio of 0.25.

Insider Activity

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,065 shares of Academy Sports and Outdoors stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $64.81, for a total value of $69,022.65. Following the transaction, the director now owns 9,070 shares in the company, valued at $587,826.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.56% of the company’s stock.

Hedge Funds Weigh In On Academy Sports and Outdoors

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC boosted its holdings in Academy Sports and Outdoors by 139.2% in the first quarter. Advisory Services Network LLC now owns 421 shares of the company’s stock worth $27,000 after acquiring an additional 245 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Academy Sports and Outdoors by 55.0% in the first quarter. Captrust Financial Advisors now owns 1,006 shares of the company’s stock worth $40,000 after acquiring an additional 357 shares in the last quarter. KB Financial Partners LLC acquired a new stake in Academy Sports and Outdoors in the second quarter worth about $84,000. SkyView Investment Advisors LLC acquired a new stake in Academy Sports and Outdoors in the second quarter worth about $94,000. Finally, Retirement Group LLC acquired a new stake in Academy Sports and Outdoors in the fourth quarter worth about $103,000.

Wall Street Analyst Weigh In

ASO has been the subject of a number of analyst reports. Evercore ISI raised their price target on Academy Sports and Outdoors from $75.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday. Morgan Stanley lowered their price target on Academy Sports and Outdoors from $70.00 to $65.00 and set an “equal weight” rating for the company in a research report on Friday. TD Cowen lowered their price target on Academy Sports and Outdoors from $86.00 to $82.00 and set an “outperform” rating for the company in a research report on Friday. JPMorgan Chase & Co. lifted their target price on Academy Sports and Outdoors from $55.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Telsey Advisory Group decreased their target price on Academy Sports and Outdoors from $83.00 to $75.00 and set an “outperform” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.38.

About Academy Sports and Outdoors

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, camping accessories and equipment, sunglasses, backpacks, and sports bags; 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, optics, airguns, and hunting equipment.