American International Group Inc. Decreases Stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

American International Group Inc. lessened its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 3.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,475 shares of the company’s stock after selling 1,603 shares during the quarter. American International Group Inc.’s holdings in Academy Sports and Outdoors were worth $2,605,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in Academy Sports and Outdoors by 52.3% during the 4th quarter. Victory Capital Management Inc. now owns 46,454 shares of the company’s stock valued at $3,066,000 after buying an additional 15,955 shares in the last quarter. Verition Fund Management LLC boosted its position in shares of Academy Sports and Outdoors by 1,014.0% during the 4th quarter. Verition Fund Management LLC now owns 213,542 shares of the company’s stock valued at $14,094,000 after acquiring an additional 194,373 shares during the last quarter. Bryn Mawr Capital Management LLC bought a new stake in shares of Academy Sports and Outdoors during the 4th quarter valued at about $2,501,000. Point72 Asset Management L.P. boosted its position in shares of Academy Sports and Outdoors by 36.6% during the 4th quarter. Point72 Asset Management L.P. now owns 2,089,067 shares of the company’s stock valued at $137,878,000 after acquiring an additional 559,414 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Academy Sports and Outdoors by 23.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 370,715 shares of the company’s stock valued at $24,467,000 after acquiring an additional 70,438 shares during the last quarter.

Academy Sports and Outdoors Price Performance

Shares of Academy Sports and Outdoors stock opened at $53.51 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.62 and a quick ratio of 0.41. The business’s 50 day simple moving average is $56.01 and its two-hundred day simple moving average is $62.27. The stock has a market capitalization of $3.86 billion, a P/E ratio of 8.26, a price-to-earnings-growth ratio of 0.91 and a beta of 1.37. Academy Sports and Outdoors, Inc. has a one year low of $42.83 and a one year high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings results on Tuesday, June 11th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.11). The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Academy Sports and Outdoors had a return on equity of 27.18% and a net margin of 8.17%. Academy Sports and Outdoors’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the firm earned $1.19 earnings per share. Analysts forecast that Academy Sports and Outdoors, Inc. will post 6.4 EPS for the current year.

Academy Sports and Outdoors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Thursday, June 20th will be paid a dividend of $0.11 per share. The ex-dividend date is Thursday, June 20th. This represents a $0.44 annualized dividend and a dividend yield of 0.82%. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 6.73%.

Insider Activity

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the business’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 transaction, the director now directly owns 7,870 shares of the company’s stock, valued at $472,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ASO. TD Cowen dropped their price target on Academy Sports and Outdoors from $82.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, June 12th. Morgan Stanley dropped their price target on Academy Sports and Outdoors from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 12th. Telsey Advisory Group reiterated an “outperform” rating and set a $75.00 price target on shares of Academy Sports and Outdoors in a research report on Tuesday, June 11th. Robert W. Baird dropped their target price on Academy Sports and Outdoors from $80.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday, June 12th. Finally, Jefferies Financial Group initiated coverage on Academy Sports and Outdoors in a research report on Friday, April 12th. They issued a “buy” rating and a $85.00 target price for the company. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $66.93.

Academy Sports and Outdoors Company 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.