KBC Group NV Raises Stock Position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

KBC Group NV boosted its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 24.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,084 shares of the company’s stock after acquiring an additional 408 shares during the period. KBC Group NV’s holdings in Academy Sports and Outdoors were worth $122,000 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. Russell Investments Group Ltd. boosted its position in shares of Academy Sports and Outdoors by 75.0% during the first quarter. Russell Investments Group Ltd. now owns 39,589 shares of the company’s stock valued at $2,674,000 after buying an additional 16,970 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Academy Sports and Outdoors by 3.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,201 shares of the company’s stock worth $548,000 after purchasing an additional 250 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in Academy Sports and Outdoors in the first quarter valued at about $348,000. Sheaff Brock Investment Advisors LLC acquired a new stake in Academy Sports and Outdoors in the 1st quarter worth approximately $223,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Academy Sports and Outdoors during the first quarter valued at $3,674,000.

Insider Buying and Selling

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of Academy Sports and Outdoors stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total transaction of $74,400.00. Following the sale, the director now owns 8,906 shares of the company’s stock, valued at $552,172. The trade was a 11.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ASO. Jefferies Financial Group reduced their price target on shares of Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Truist Financial lowered shares of Academy Sports and Outdoors from a “buy” rating to a “hold” rating and dropped their target price for the company from $63.00 to $50.00 in a research report on Tuesday. Evercore ISI cut shares of Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and reduced their target price for the company from $65.00 to $60.00 in a research report on Thursday, October 3rd. TD Cowen boosted their price objective on Academy Sports and Outdoors from $54.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday, September 11th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 price target on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Academy Sports and Outdoors has a consensus rating of “Hold” and an average target price of $61.57.

Academy Sports and Outdoors Stock Performance

Shares of ASO opened at $45.63 on Friday. Academy Sports and Outdoors, Inc. has a 1 year low of $44.73 and a 1 year high of $75.73. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 7.04, a PEG ratio of 0.88 and a beta of 1.37. The company’s 50 day simple moving average is $54.23 and its 200 day simple moving average is $54.01. 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 (NASDAQ:ASO) last announced its quarterly earnings results on Tuesday, September 10th. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.96 by $0.07. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the firm posted $2.01 earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis. On average, sell-side analysts predict that Academy Sports and Outdoors, Inc. will post 6.01 EPS for the current year.

Academy Sports and Outdoors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, September 19th were issued 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 0.96%. Academy Sports and Outdoors’s payout ratio is currently 6.79%.

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.