Varma Mutual Pension Insurance Co Lowers Holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Varma Mutual Pension Insurance Co reduced its holdings in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 52.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 114,400 shares of the company’s stock after selling 125,600 shares during the period. Varma Mutual Pension Insurance Co owned about 0.16% of Academy Sports and Outdoors worth $6,092,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Academy Sports and Outdoors in the 4th quarter valued at about $47,768,000. Point72 Asset Management L.P. boosted its holdings in shares of Academy Sports and Outdoors by 36.6% in 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 buying an additional 559,414 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Academy Sports and Outdoors by 953.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 403,467 shares of the company’s stock worth $26,629,000 after acquiring an additional 365,168 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in Academy Sports and Outdoors by 169.0% in the first quarter. Lord Abbett & CO. LLC now owns 510,727 shares of the company’s stock valued at $34,494,000 after acquiring an additional 320,835 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Academy Sports and Outdoors by 74.9% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 687,135 shares of the company’s stock valued at $46,410,000 after acquiring an additional 294,215 shares in the last quarter.

Academy Sports and Outdoors Stock Performance

Shares of ASO stock opened at $52.64 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 0.41 and a debt-to-equity ratio of 0.25. Academy Sports and Outdoors, Inc. has a 12-month low of $42.83 and a 12-month high of $75.73. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 8.05, a price-to-earnings-growth ratio of 0.92 and a beta of 1.34. The stock has a 50 day simple moving average of $53.19 and a 200-day simple moving average of $57.91.

Academy Sports and Outdoors (NASDAQ:ASO) last released its 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). Academy Sports and Outdoors had a net margin of 8.17% and a return on equity of 27.18%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the business posted $1.19 EPS. Academy Sports and Outdoors’s revenue was down 1.4% compared to the same quarter last year. On average, equities analysts forecast that Academy Sports and Outdoors, Inc. will post 6.25 EPS for the current year.

Academy Sports and Outdoors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, September 19th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, September 19th. This represents a $0.44 annualized dividend and a yield of 0.84%. Academy Sports and Outdoors’s payout ratio is currently 6.73%.

Insider Buying and Selling at Academy Sports and Outdoors

In related news, Director Jeffrey C. Tweedy sold 625 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $54.25, for a total value of $33,906.25. Following the sale, the director now owns 10,106 shares in the company, valued at approximately $548,250.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on ASO. Truist Financial reduced their target price on Academy Sports and Outdoors from $75.00 to $73.00 and set a “buy” rating for the company in a report on Monday, June 10th. Wedbush reissued an “outperform” rating and issued a $65.00 price objective on shares of Academy Sports and Outdoors in a report on Thursday, September 5th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $65.00 target price on shares of Academy Sports and Outdoors in a report on Thursday, September 5th. Wells Fargo & Company decreased their price target on shares of Academy Sports and Outdoors from $55.00 to $46.00 and set an “equal weight” rating for the company in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. lowered shares of Academy Sports and Outdoors from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $76.00 to $53.00 in a research note on Monday, August 5th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.93.

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.