State of New Jersey Common Pension Fund D Grows Holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

State of New Jersey Common Pension Fund D grew its position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 6.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,908 shares of the company’s stock after acquiring an additional 2,189 shares during the period. State of New Jersey Common Pension Fund D owned about 0.05% of Academy Sports and Outdoors worth $2,096,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Meritage Portfolio Management lifted its position in shares of Academy Sports and Outdoors by 9.2% during the 3rd quarter. Meritage Portfolio Management now owns 8,597 shares of the company’s stock valued at $502,000 after buying an additional 721 shares in the last quarter. Jackson Square Capital LLC purchased a new position in Academy Sports and Outdoors during the third quarter valued at $515,000. Foster & Motley Inc. increased its stake in shares of Academy Sports and Outdoors by 3.5% during the third 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. acquired a new position in shares of Academy Sports and Outdoors during the 3rd quarter worth about $205,000. Finally, Harbor Capital Advisors Inc. purchased a new position in Academy Sports and Outdoors in the 3rd quarter valued at about $28,000.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Loop Capital reissued a “buy” rating and set a $77.00 target price on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. Telsey Advisory Group reaffirmed 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. JPMorgan Chase & Co. cut shares of Academy Sports and Outdoors from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $76.00 to $53.00 in a research report on Monday, August 5th. TD Cowen upped 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, Jefferies Financial Group decreased their target price on shares of 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. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Academy Sports and Outdoors has a consensus rating of “Moderate Buy” and a consensus target price of $62.50.

Insider Activity

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 8,906 shares of the company’s stock, valued at approximately $552,172. This trade represents a 11.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.19% of the company’s stock.

Academy Sports and Outdoors Price Performance

NASDAQ:ASO opened at $47.80 on Friday. Academy Sports and Outdoors, Inc. has a 52 week low of $45.47 and a 52 week high of $75.73. The stock’s fifty day moving average is $54.93 and its two-hundred day moving average is $54.33. The company has a market capitalization of $3.36 billion, a P/E ratio of 7.38, a P/E/G ratio of 0.95 and a beta of 1.37. The company has a quick ratio of 0.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.25.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its earnings results on Tuesday, September 10th. The company reported $2.03 EPS for the quarter, beating 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 company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the prior year, the company posted $2.01 earnings per share. Academy Sports and Outdoors’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities analysts expect that Academy Sports and Outdoors, Inc. will post 6.02 EPS for the current year.

Academy Sports and Outdoors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th were given 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 0.92%. Academy Sports and Outdoors’s dividend payout ratio is currently 6.79%.

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.