Hook Mill Capital Partners LP increased its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO – Free Report) by 40.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 153,140 shares of the company’s stock after purchasing an additional 43,961 shares during the period. Academy Sports and Outdoors accounts for approximately 6.8% of Hook Mill Capital Partners LP’s investment portfolio, making the stock its 4th biggest position. Hook Mill Capital Partners LP owned approximately 0.20% of Academy Sports and Outdoors worth $9,090,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ASO. Hancock Whitney Corp purchased a new stake in shares of Academy Sports and Outdoors in the first quarter valued at approximately $654,000. HWG Holdings LP lifted its holdings in Academy Sports and Outdoors by 738.6% in the first quarter. HWG Holdings LP now owns 12,964 shares of the company’s stock valued at $846,000 after acquiring an additional 11,418 shares during the last quarter. Colony Group LLC purchased a new position in Academy Sports and Outdoors in the first quarter worth approximately $3,276,000. Snowden Capital Advisors LLC acquired a new stake in Academy Sports and Outdoors during the first quarter worth $3,347,000. Finally, Steamboat Capital Partners LLC raised its position in Academy Sports and Outdoors by 42.9% in the first quarter. Steamboat Capital Partners LLC now owns 250,000 shares of the company’s stock valued at $16,312,000 after purchasing an additional 75,000 shares during the period.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on ASO shares. TD Cowen reduced their price objective on shares of Academy Sports and Outdoors from $68.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, August 29th. JPMorgan Chase & Co. lowered their target price on Academy Sports and Outdoors from $70.00 to $61.00 in a report on Monday, June 5th. Wedbush reissued an “outperform” rating and set a $60.00 price target on shares of Academy Sports and Outdoors in a research report on Friday, September 1st. Evercore ISI dropped their price objective on shares of Academy Sports and Outdoors from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, September 1st. Finally, B. Riley Financial began coverage on shares of Academy Sports and Outdoors in a report on Thursday, June 29th. They set a “buy” rating and a $63.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.24.
Insider Buying and Selling at Academy Sports and Outdoors
In related news, Director Jeffrey C. Tweedy sold 1,065 shares of Academy Sports and Outdoors stock in a transaction on Friday, June 16th. The stock was sold at an average price of $49.23, for a total transaction of $52,429.95. Following the completion of the transaction, the director now directly owns 12,200 shares of the company’s stock, valued at $600,606. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.56% of the stock is currently owned by corporate insiders.
Academy Sports and Outdoors Price Performance
Shares of NASDAQ ASO opened at $49.09 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.68 and a quick ratio of 0.33. The company has a market cap of $3.66 billion, a PE ratio of 7.36, a P/E/G ratio of 0.60 and a beta of 1.20. The stock has a fifty day moving average price of $55.04 and a 200 day moving average price of $65.62. Academy Sports and Outdoors, Inc. has a 1-year low of $40.67 and a 1-year high of $69.02.
Academy Sports and Outdoors (NASDAQ:ASO – Get Free Report) last issued its quarterly earnings results on Thursday, August 31st. The company reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.10. Academy Sports and Outdoors had a net margin of 8.71% and a return on equity of 32.91%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the business posted $2.30 earnings per share. The business’s revenue was down 6.2% compared to the same quarter last year. Sell-side analysts forecast that Academy Sports and Outdoors, Inc. will post 6.93 EPS for the current year.
Academy Sports and Outdoors Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 11th. Shareholders of record on Wednesday, September 13th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.36 annualized dividend and a yield of 0.73%. Academy Sports and Outdoors’s payout ratio is currently 5.30%.
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, camping accessories and equipment, sunglasses, backpacks, and sports bags; 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, optics, airguns, and hunting equipment.
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