Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC lifted its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 14.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,390 shares of the company’s stock after buying an additional 1,811 shares during the period. Jennison Associates LLC’s holdings in Academy Sports and Outdoors were worth $972,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ASO. Trust Investment Advisors increased its stake in Academy Sports and Outdoors by 1.2% during the 4th quarter. Trust Investment Advisors now owns 14,792 shares of the company’s stock worth $976,000 after buying an additional 172 shares during the period. Meritage Portfolio Management increased its position in shares of Academy Sports and Outdoors by 2.1% during the fourth quarter. Meritage Portfolio Management now owns 8,337 shares of the company’s stock worth $550,000 after acquiring an additional 174 shares during the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of Academy Sports and Outdoors by 14.2% in the third quarter. SkyView Investment Advisors LLC now owns 1,975 shares of the company’s stock worth $93,000 after acquiring an additional 245 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in Academy Sports and Outdoors by 4.6% in the fourth quarter. Cullen Frost Bankers Inc. now owns 5,980 shares of the company’s stock valued at $395,000 after purchasing an additional 265 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Academy Sports and Outdoors by 1.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,410 shares of the company’s stock valued at $1,875,000 after purchasing an additional 276 shares in the last quarter.

Analysts Set New Price Targets

ASO has been the subject of several research analyst reports. Telsey Advisory Group reiterated an “outperform” rating and set a $75.00 target price on shares of Academy Sports and Outdoors in a research note on Tuesday, June 11th. Morgan Stanley reduced their price objective on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 12th. Loop Capital reissued a “buy” rating and issued a $77.00 target price on shares of Academy Sports and Outdoors in a research report on Monday, July 1st. JPMorgan Chase & Co. lifted their price target on Academy Sports and Outdoors from $55.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Finally, Bank of America cut Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and cut their price objective for the company from $75.00 to $63.00 in a research note on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $67.87.

Insiders Place Their Bets

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

Academy Sports and Outdoors Stock Performance

ASO opened at $51.85 on Wednesday. The stock has a 50-day moving average of $54.42 and a 200-day moving average of $61.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.62. Academy Sports and Outdoors, Inc. has a 52-week low of $42.83 and a 52-week high of $75.73. The company has a market cap of $3.74 billion, a PE ratio of 7.93, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34.

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 the consensus estimate of $1.19 by ($0.11). Academy Sports and Outdoors had a net margin of 8.17% and a return on equity of 27.18%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the business earned $1.19 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities research analysts forecast that Academy Sports and Outdoors, Inc. will post 6.4 earnings per share for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

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

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, 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.