Raymond James & Associates Increases Stock Holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Raymond James & Associates increased its holdings in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 14.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,565 shares of the company’s stock after buying an additional 6,615 shares during the period. Raymond James & Associates owned about 0.07% of Academy Sports and Outdoors worth $3,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Centaurus Financial Inc. lifted its holdings in Academy Sports and Outdoors by 3.6% in the 1st quarter. Centaurus Financial Inc. now owns 4,975 shares of the company’s stock valued at $325,000 after purchasing an additional 175 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in Academy Sports and Outdoors by 1.8% in the 2nd quarter. Sunbelt Securities Inc. now owns 11,375 shares of the company’s stock valued at $615,000 after purchasing an additional 202 shares in the last quarter. Prospera Financial Services Inc lifted its holdings in Academy Sports and Outdoors by 3.7% in the 1st quarter. Prospera Financial Services Inc now owns 6,026 shares of the company’s stock valued at $393,000 after purchasing an additional 213 shares in the last quarter. SkyView Investment Advisors LLC lifted its holdings in Academy Sports and Outdoors by 14.2% in the 3rd quarter. SkyView Investment Advisors LLC now owns 1,975 shares of the company’s stock valued at $93,000 after purchasing an additional 245 shares in the last quarter. Finally, Advisory Services Network LLC lifted its holdings in Academy Sports and Outdoors by 139.2% in the 1st quarter. Advisory Services Network LLC now owns 421 shares of the company’s stock valued at $27,000 after purchasing an additional 245 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ASO. Wells Fargo & Company decreased their price objective on Academy Sports and Outdoors from $88.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. JPMorgan Chase & Co. raised their target price on Academy Sports and Outdoors from $55.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Wedbush reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Academy Sports and Outdoors in a research note on Monday, April 1st. Jefferies Financial Group began coverage on Academy Sports and Outdoors in a research note on Friday. They issued a “buy” rating and a $85.00 target price for the company. Finally, Truist Financial reaffirmed a “buy” rating and issued a $77.00 target price on shares of Academy Sports and Outdoors in a research note on Tuesday, March 19th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.47.

Academy Sports and Outdoors Stock Performance

NASDAQ ASO opened at $59.02 on Friday. The company has a market cap of $4.39 billion, a P/E ratio of 8.78, a P/E/G ratio of 0.87 and a beta of 1.35. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.87 and a quick ratio of 0.51. The stock has a 50-day moving average of $67.86 and a two-hundred day moving average of $59.06. Academy Sports and Outdoors, Inc. has a 1-year low of $42.83 and a 1-year high of $75.73.

Academy Sports and Outdoors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Tuesday, March 26th will be given a $0.11 dividend. This is an increase from Academy Sports and Outdoors’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a yield of 0.75%. The ex-dividend date is Monday, March 25th. Academy Sports and Outdoors’s payout ratio is currently 6.55%.

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, 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.