Truist Financial Corp Reduces Position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Truist Financial Corp cut its holdings in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 5.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,269 shares of the company’s stock after selling 390 shares during the quarter. Truist Financial Corp’s holdings in Academy Sports and Outdoors were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ASO. Advisory Services Network LLC increased its position in shares of Academy Sports and Outdoors by 139.2% during the first quarter. Advisory Services Network LLC now owns 421 shares of the company’s stock valued at $27,000 after buying an additional 245 shares during the period. Optimum Investment Advisors bought a new position in shares of Academy Sports and Outdoors in the first quarter worth approximately $33,000. Captrust Financial Advisors increased its position in shares of Academy Sports and Outdoors by 55.0% in the first quarter. Captrust Financial Advisors now owns 1,006 shares of the company’s stock worth $40,000 after purchasing an additional 357 shares during the last quarter. Tucker Asset Management LLC bought a new position in shares of Academy Sports and Outdoors in the first quarter worth approximately $47,000. Finally, Archer Investment Corp bought a new position in Academy Sports and Outdoors during the first quarter valued at approximately $85,000.

Insider Activity

In other news, EVP Samuel J. Johnson sold 40,531 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $50.03, for a total transaction of $2,027,765.93. Following the completion of the transaction, the executive vice president now directly owns 70,303 shares in the company, valued at $3,517,259.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Samuel J. Johnson sold 40,531 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $50.03, for a total transaction of $2,027,765.93. Following the completion of the transaction, the executive vice president now directly owns 70,303 shares in the company, valued at $3,517,259.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey C. Tweedy sold 700 shares of Academy Sports and Outdoors stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $46.66, for a total value of $32,662.00. Following the completion of the sale, the director now owns 11,200 shares of the company’s stock, valued at $522,592. The disclosure for this sale can be found here. Insiders sold 41,531 shares of company stock worth $2,075,260 over the last three months. 3.56% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on ASO shares. TD Cowen reduced their price target on shares of Academy Sports and Outdoors from $68.00 to $65.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 29th. UBS Group increased their price target on shares of Academy Sports and Outdoors from $65.00 to $74.00 in a research report on Friday, September 1st. B. Riley increased their price target on shares of Academy Sports and Outdoors from $63.00 to $65.00 in a research report on Friday, September 1st. Wedbush reissued an “outperform” rating and set a $60.00 price objective on shares of Academy Sports and Outdoors in a research note on Friday, September 1st. Finally, Gordon Haskett lowered Academy Sports and Outdoors from an “accumulate” rating to a “hold” rating and dropped their price objective for the company from $56.00 to $52.00 in a research note on Monday, August 28th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Academy Sports and Outdoors currently has a consensus rating of “Moderate Buy” and an average target price of $69.24.

Academy Sports and Outdoors Stock Performance

Shares of Academy Sports and Outdoors stock opened at $45.67 on Monday. The company has a current ratio of 1.68, a quick ratio of 0.40 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $3.40 billion, a P/E ratio of 6.73, a P/E/G ratio of 0.54 and a beta of 1.28. The business has a fifty day simple moving average of $46.90 and a two-hundred day simple moving average of $54.71. Academy Sports and Outdoors, Inc. has a 12 month low of $42.83 and a 12 month high of $69.02.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings data on Thursday, August 31st. The company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.99 by $0.10. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.58 billion. Academy Sports and Outdoors had a return on equity of 32.91% and a net margin of 8.71%. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.30 earnings per share. On average, equities analysts forecast that Academy Sports and Outdoors, Inc. will post 6.89 earnings per share for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 11th. Stockholders of record on Wednesday, September 13th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $0.36 annualized dividend and a dividend yield of 0.79%. Academy Sports and Outdoors’s payout ratio is presently 5.30%.

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, 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.