Tidal Investments LLC Cuts Stock Position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Tidal Investments LLC reduced its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 23.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,491 shares of the company’s stock after selling 2,924 shares during the period. Tidal Investments LLC’s holdings in Academy Sports and Outdoors were worth $554,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. acquired a new position in shares of Academy Sports and Outdoors during the second quarter worth $174,054,000. FMR LLC lifted its holdings in Academy Sports and Outdoors by 15.3% in the 3rd quarter. FMR LLC now owns 10,739,463 shares of the company’s stock worth $626,755,000 after buying an additional 1,422,971 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Academy Sports and Outdoors by 19.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,969,886 shares of the company’s stock valued at $158,147,000 after buying an additional 481,640 shares during the last quarter. Royce & Associates LP increased its position in shares of Academy Sports and Outdoors by 62.5% during the third quarter. Royce & Associates LP now owns 951,256 shares of the company’s stock worth $55,515,000 after acquiring an additional 365,929 shares during the last quarter. Finally, Verition Fund Management LLC lifted its stake in shares of Academy Sports and Outdoors by 203.2% in the third quarter. Verition Fund Management LLC now owns 514,017 shares of the company’s stock worth $29,998,000 after acquiring an additional 344,466 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Evercore ISI downgraded Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and dropped their price objective for the stock from $65.00 to $60.00 in a report on Thursday, October 3rd. Jefferies Financial Group cut their price target on shares of Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Telsey Advisory Group decreased their price objective on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Loop Capital restated a “buy” rating and issued a $77.00 target price on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Finally, Wells Fargo & Company lifted their price target on Academy Sports and Outdoors from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.33.

Academy Sports and Outdoors Stock Performance

ASO stock opened at $55.64 on Monday. The stock’s fifty day moving average is $51.54 and its two-hundred day moving average is $53.41. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 1.06 and a beta of 1.31. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.57. Academy Sports and Outdoors, Inc. has a 1 year low of $44.73 and a 1 year high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its earnings results on Tuesday, December 10th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.30). Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the firm earned $1.38 earnings per share. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, research analysts predict that Academy Sports and Outdoors, Inc. will post 5.92 EPS for the current year.

Academy Sports and Outdoors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, December 18th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.79%. The ex-dividend date is Wednesday, December 18th. Academy Sports and Outdoors’s payout ratio is currently 7.22%.

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.