Principal Financial Group Inc. Has $19.86 Million Stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Principal Financial Group Inc. lowered its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 19.5% in the third quarter, Holdings Channel reports. The institutional investor owned 340,339 shares of the company’s stock after selling 82,677 shares during the period. Principal Financial Group Inc.’s holdings in Academy Sports and Outdoors were worth $19,862,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ASO. Jackson Square Capital LLC bought a new position in Academy Sports and Outdoors during the third quarter valued at about $515,000. Foster & Motley Inc. grew its holdings in shares of Academy Sports and Outdoors by 3.5% during the 3rd quarter. Foster & Motley Inc. now owns 19,530 shares of the company’s stock worth $1,141,000 after purchasing an additional 666 shares in the last quarter. QRG Capital Management Inc. bought a new stake in shares of Academy Sports and Outdoors during the third quarter valued at approximately $205,000. Harbor Capital Advisors Inc. acquired a new position in shares of Academy Sports and Outdoors in the third quarter valued at $28,000. Finally, James Investment Research Inc. bought a new position in Academy Sports and Outdoors in the third quarter worth $264,000.

Academy Sports and Outdoors Price Performance

Academy Sports and Outdoors stock opened at $49.29 on Friday. The business’s fifty day moving average is $55.14 and its two-hundred day moving average is $54.46. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.66. The firm has a market cap of $3.47 billion, a P/E ratio of 7.61, a P/E/G ratio of 0.96 and a beta of 1.37. Academy Sports and Outdoors, Inc. has a 52 week low of $45.47 and a 52 week high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.07. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. Academy Sports and Outdoors had a net margin of 7.98% and a return on equity of 25.56%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.01 EPS. Equities research analysts forecast that Academy Sports and Outdoors, Inc. will post 6.02 earnings per share for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.11 per share. The ex-dividend date was Thursday, September 19th. This represents a $0.44 annualized dividend and a dividend yield of 0.89%. Academy Sports and Outdoors’s dividend payout ratio (DPR) is currently 6.79%.

Insider Activity at Academy Sports and Outdoors

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $62.00, for a total value of $74,400.00. Following the transaction, the director now owns 8,906 shares in the company, valued at $552,172. This trade represents a 11.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ASO shares. TD Cowen boosted their price target on shares of Academy Sports and Outdoors from $54.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, September 11th. Morgan Stanley reissued an “equal weight” rating and issued a $60.00 target price on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Evercore ISI cut shares of Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and cut their price target for the stock from $65.00 to $60.00 in a research note on Thursday, October 3rd. Jefferies Financial Group lowered their price objective on Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. downgraded Academy Sports and Outdoors from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $76.00 to $53.00 in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Academy Sports and Outdoors has an average rating of “Moderate Buy” and a consensus price target of $62.50.

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.