Fmr LLC Trims Stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Fmr LLC lessened its holdings in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,514,487 shares of the company’s stock after selling 224,976 shares during the period. Fmr LLC owned about 0.15% of Academy Sports and Outdoors worth $604,898,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Federated Hermes Inc. lifted its stake in shares of Academy Sports and Outdoors by 44.0% during the 4th quarter. Federated Hermes Inc. now owns 55,593 shares of the company’s stock worth $3,198,000 after acquiring an additional 16,982 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Academy Sports and Outdoors by 6.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 231,321 shares of the company’s stock valued at $13,308,000 after acquiring an additional 13,677 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Academy Sports and Outdoors in the fourth quarter worth $1,969,000. Wells Fargo & Company MN lifted its position in shares of Academy Sports and Outdoors by 11.4% during the fourth quarter. Wells Fargo & Company MN now owns 216,686 shares of the company’s stock worth $12,466,000 after purchasing an additional 22,146 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Academy Sports and Outdoors by 19.1% during the fourth quarter. Franklin Resources Inc. now owns 114,111 shares of the company’s stock valued at $6,565,000 after purchasing an additional 18,289 shares during the period.

Academy Sports and Outdoors Price Performance

Shares of ASO stock opened at $34.10 on Wednesday. The stock’s 50-day moving average is $48.28 and its 200 day moving average is $51.89. Academy Sports and Outdoors, Inc. has a 1-year low of $33.78 and a 1-year high of $64.62. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.57 and a quick ratio of 0.32. The company has a market cap of $2.28 billion, a P/E ratio of 5.60, a PEG ratio of 1.02 and a beta of 1.26.

Academy Sports and Outdoors (NASDAQ:ASO) last released its quarterly earnings results 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 business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. The company’s revenue was down 6.6% compared to the same quarter last year. During the same period last year, the business earned $2.21 EPS. Research analysts predict 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 declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, March 25th will be issued a $0.13 dividend. This is a positive change from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a yield of 1.52%. The ex-dividend date is Tuesday, March 25th. Academy Sports and Outdoors’s payout ratio is currently 9.01%.

Analyst Upgrades and Downgrades

Several research firms recently commented on ASO. Evercore ISI reduced their price target on shares of Academy Sports and Outdoors from $54.00 to $53.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. Oppenheimer reduced their target price on shares of Academy Sports and Outdoors from $85.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Robert W. Baird decreased their price target on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Jefferies Financial Group set a $60.00 price objective on Academy Sports and Outdoors in a research note on Thursday, March 20th. Finally, Truist Financial raised their price objective on Academy Sports and Outdoors from $50.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Academy Sports and Outdoors currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.63.

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.