Corebridge Financial Inc. Sells 3,892 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Corebridge Financial Inc. cut its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 9.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,727 shares of the company’s stock after selling 3,892 shares during the quarter. Corebridge Financial Inc.’s holdings in Academy Sports and Outdoors were worth $2,113,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. TD Private Client Wealth LLC bought a new position in shares of Academy Sports and Outdoors in the third quarter worth approximately $40,000. AlphaQuest LLC increased its holdings in shares of Academy Sports and Outdoors by 240.8% in the 4th quarter. AlphaQuest LLC now owns 702 shares of the company’s stock worth $40,000 after purchasing an additional 496 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Academy Sports and Outdoors by 1,307.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 985 shares of the company’s stock worth $57,000 after purchasing an additional 915 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Academy Sports and Outdoors by 242.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,190 shares of the company’s stock valued at $69,000 after acquiring an additional 843 shares during the period. Finally, Blue Trust Inc. lifted its position in Academy Sports and Outdoors by 14.8% during the fourth quarter. Blue Trust Inc. now owns 2,591 shares of the company’s stock valued at $151,000 after purchasing an additional 334 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ASO. TD Cowen lifted their price objective on Academy Sports and Outdoors from $54.00 to $61.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. Robert W. Baird cut their target price on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Jefferies Financial Group set a $60.00 price target on shares of Academy Sports and Outdoors in a research report on Thursday, March 20th. Evercore ISI cut their price objective on shares of Academy Sports and Outdoors from $54.00 to $53.00 and set an “in-line” rating for the company in a research report on Tuesday. Finally, Citigroup decreased their target price on Academy Sports and Outdoors from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.69.

Academy Sports and Outdoors Price Performance

Shares of NASDAQ:ASO opened at $46.60 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.32 and a current ratio of 1.57. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 7.65, a P/E/G ratio of 1.02 and a beta of 1.25. The firm has a fifty day moving average price of $50.33 and a 200 day moving average price of $52.80. Academy Sports and Outdoors, Inc. has a fifty-two week low of $43.16 and a fifty-two week high of $66.31.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings data on Thursday, March 20th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.14. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 earnings per share. As a group, sell-side analysts expect that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current fiscal year.

Academy Sports and Outdoors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, March 25th will be given a dividend of $0.13 per share. This is an increase from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Tuesday, March 25th. Academy Sports and Outdoors’s dividend payout ratio is currently 9.01%.

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.