Handelsbanken Fonder AB Increases Holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Handelsbanken Fonder AB lifted its holdings in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 51.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,200 shares of the company’s stock after acquiring an additional 7,500 shares during the period. Handelsbanken Fonder AB’s holdings in Academy Sports and Outdoors were worth $1,296,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in Academy Sports and Outdoors in the first quarter valued at $35,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Academy Sports and Outdoors during the first quarter worth about $68,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Academy Sports and Outdoors in the 4th quarter valued at about $73,000. Your Advocates Ltd. LLP boosted its position in shares of Academy Sports and Outdoors by 117.3% in the 2nd quarter. Your Advocates Ltd. LLP now owns 1,706 shares of the company’s stock valued at $91,000 after purchasing an additional 921 shares during the period. Finally, Blue Trust Inc. grew its stake in Academy Sports and Outdoors by 94.7% during the 2nd quarter. Blue Trust Inc. now owns 2,149 shares of the company’s stock worth $114,000 after buying an additional 1,045 shares during the last quarter.

Academy Sports and Outdoors Price Performance

Academy Sports and Outdoors stock opened at $54.39 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.66. Academy Sports and Outdoors, Inc. has a one year low of $43.07 and a one year high of $75.73. The company has a market cap of $3.82 billion, a P/E ratio of 8.39, a price-to-earnings-growth ratio of 1.04 and a beta of 1.34. The business has a fifty day moving average of $55.30 and a two-hundred day moving average of $55.91.

Academy Sports and Outdoors (NASDAQ:ASO) last released its quarterly earnings data on Tuesday, September 10th. The company reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.07. Academy Sports and Outdoors had a net margin of 7.98% and a return on equity of 25.56%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the firm earned $2.01 earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis. As a group, analysts predict that Academy Sports and Outdoors, Inc. will post 6.03 earnings per share for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, September 19th will be issued 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 0.81%. Academy Sports and Outdoors’s dividend payout ratio is presently 6.79%.

Insiders Place Their Bets

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $62.00, for a total value of $74,400.00. Following the completion of the transaction, the director now owns 8,906 shares in the company, valued at $552,172. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Jeffrey C. Tweedy sold 625 shares of Academy Sports and Outdoors stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $54.25, for a total transaction of $33,906.25. Following the completion of the transaction, the director now directly owns 10,106 shares in the company, valued at $548,250.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey C. Tweedy sold 1,200 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total value of $74,400.00. Following the sale, the director now owns 8,906 shares in the company, valued at approximately $552,172. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ASO has been the subject of a number of research reports. Morgan Stanley reiterated an “equal weight” rating and issued a $60.00 price objective on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Evercore ISI downgraded shares of Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and reduced their price target for the company from $65.00 to $60.00 in a research report on Thursday, October 3rd. Wedbush reiterated an “outperform” rating and set a $65.00 price target on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. TD Cowen lifted their price objective on shares of Academy Sports and Outdoors from $54.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, September 11th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $65.00 target price on shares of Academy Sports and Outdoors in a research note on Thursday, September 5th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $62.50.

Academy Sports and Outdoors 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.