Hodges Capital Management Inc. Sells 43,399 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Hodges Capital Management Inc. reduced its position in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 20.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,071 shares of the company’s stock after selling 43,399 shares during the quarter. Hodges Capital Management Inc. owned 0.22% of Academy Sports and Outdoors worth $11,284,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ASO. Norges Bank bought a new stake in Academy Sports and Outdoors during the fourth quarter worth $47,768,000. Point72 Asset Management L.P. increased its holdings in shares of Academy Sports and Outdoors by 36.6% in the fourth quarter. Point72 Asset Management L.P. now owns 2,089,067 shares of the company’s stock valued at $137,878,000 after purchasing an additional 559,414 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Academy Sports and Outdoors in the fourth quarter valued at $25,933,000. LSV Asset Management increased its holdings in shares of Academy Sports and Outdoors by 28.4% in the fourth quarter. LSV Asset Management now owns 1,652,541 shares of the company’s stock valued at $109,068,000 after purchasing an additional 365,855 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Academy Sports and Outdoors by 953.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 403,467 shares of the company’s stock valued at $26,629,000 after purchasing an additional 365,168 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have commented on ASO shares. Wedbush decreased their price objective on shares of Academy Sports and Outdoors from $80.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, June 12th. TD Cowen decreased their price objective on shares of Academy Sports and Outdoors from $82.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, June 12th. B. Riley reiterated a “buy” rating and issued a $72.00 price objective (up from $65.00) on shares of Academy Sports and Outdoors in a report on Monday, March 25th. Truist Financial decreased their price objective on shares of Academy Sports and Outdoors from $75.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, June 10th. Finally, UBS Group downgraded shares of Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and decreased their price target for the company from $81.00 to $58.00 in a research note on Wednesday, June 12th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.93.

Academy Sports and Outdoors Price Performance

ASO traded down $0.04 on Friday, hitting $53.25. 3,435,226 shares of the stock were exchanged, compared to its average volume of 2,143,467. Academy Sports and Outdoors, Inc. has a 12 month low of $42.83 and a 12 month high of $75.73. The business has a 50-day moving average of $55.51 and a two-hundred day moving average of $62.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.62 and a quick ratio of 0.41. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 8.14, a PEG ratio of 0.90 and a beta of 1.37.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its quarterly earnings data on Tuesday, June 11th. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.11). The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. Academy Sports and Outdoors had a return on equity of 27.18% and a net margin of 8.17%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.19 EPS. Sell-side analysts forecast that Academy Sports and Outdoors, Inc. will post 6.4 EPS for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Thursday, June 20th will be issued a $0.11 dividend. The ex-dividend date is Thursday, June 20th. This represents a $0.44 dividend on an annualized basis and a yield of 0.83%. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 6.73%.

Insider Activity at Academy Sports and Outdoors

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $60.00, for a total value of $72,000.00. Following the completion of the transaction, the director now owns 7,870 shares in the company, valued at approximately $472,200. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.19% of the stock is owned by company insiders.

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.