Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,720 shares of the company’s stock after selling 369 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Academy Sports and Outdoors were worth $1,805,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp acquired a new position in Academy Sports and Outdoors during the fourth quarter worth approximately $26,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Academy Sports and Outdoors during the first quarter valued at about $68,000. EverSource Wealth Advisors LLC raised its position in shares of Academy Sports and Outdoors by 517.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,050 shares of the company’s stock valued at $69,000 after purchasing an additional 880 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in Academy Sports and Outdoors during the 4th quarter worth $73,000. Finally, GAMMA Investing LLC acquired a new stake in Academy Sports and Outdoors during the fourth quarter valued at approximately $83,000.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ASO. UBS Group downgraded shares of Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $81.00 to $58.00 in a research report on Wednesday, June 12th. Morgan Stanley dropped their target price 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. Bank of America cut shares of Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $75.00 to $63.00 in a research note on Tuesday, June 11th. Jefferies Financial Group started coverage on shares of Academy Sports and Outdoors in a research report on Friday, April 12th. They issued a “buy” rating and a $85.00 price target on the stock. Finally, Robert W. Baird decreased their target price on shares of Academy Sports and Outdoors from $80.00 to $68.00 and set an “outperform” rating for the company in a report on Wednesday, June 12th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Academy Sports and Outdoors has a consensus rating of “Moderate Buy” and a consensus target price of $67.87.

Academy Sports and Outdoors Price Performance

NASDAQ:ASO traded up $0.66 during trading hours on Friday, reaching $51.60. The company had a trading volume of 187,334 shares, compared to its average volume of 1,456,461. The firm has a market capitalization of $3.72 billion, a PE ratio of 7.79, a PEG ratio of 0.86 and a beta of 1.34. The company has a quick ratio of 0.41, a current ratio of 1.62 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average of $54.88 and a two-hundred day moving average of $61.85. 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 issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.38 billion. Academy Sports and Outdoors had a return on equity of 27.18% and a net margin of 8.17%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.19 EPS. Analysts forecast that Academy Sports and Outdoors, Inc. will post 6.4 earnings per share for the current year.

Academy Sports and Outdoors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Thursday, June 20th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Thursday, June 20th. Academy Sports and Outdoors’s dividend payout ratio (DPR) is currently 6.73%.

Insider Activity

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $60.00, for a total value of $72,000.00. Following the completion of the transaction, the director now directly owns 7,870 shares of the company’s stock, valued at approximately $472,200. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.19% of the stock is currently owned by company insiders.

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.