Lord Abbett & CO. LLC Has $22.49 Million Stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Lord Abbett & CO. LLC lowered its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 38.9% in the third quarter, Holdings Channel reports. The firm owned 385,276 shares of the company’s stock after selling 245,445 shares during the period. Lord Abbett & CO. LLC’s holdings in Academy Sports and Outdoors were worth $22,485,000 as of its most recent filing with the Securities & Exchange Commission.

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

Academy Sports and Outdoors Stock Performance

Shares of NASDAQ:ASO opened at $54.31 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.57 and a quick ratio of 0.41. The business’s fifty day moving average price is $51.41 and its two-hundred day moving average price is $53.44. Academy Sports and Outdoors, Inc. has a fifty-two week low of $44.73 and a fifty-two week high of $75.73. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 8.92, a price-to-earnings-growth ratio of 1.06 and a beta of 1.31.

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

Academy Sports and Outdoors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, December 18th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Wednesday, December 18th. Academy Sports and Outdoors’s payout ratio is currently 7.22%.

Insider Buying and Selling

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total value of $74,400.00. Following the completion of the sale, the director now owns 8,906 shares in the company, valued at approximately $552,172. This trade represents a 11.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on ASO. Jefferies Financial Group dropped their price target on Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Telsey Advisory Group dropped their target price on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Wedbush reissued an “outperform” rating and issued a $65.00 price target on shares of Academy Sports and Outdoors in a report on Wednesday, December 11th. Wells Fargo & Company boosted their price objective on shares of Academy Sports and Outdoors from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 11th. Finally, Truist Financial increased their target price on shares of Academy Sports and Outdoors from $50.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $61.07.

About Academy Sports and Outdoors

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.