JPMorgan Chase & Co. Trims Stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

JPMorgan Chase & Co. lowered its holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 48.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 167,645 shares of the company’s stock after selling 158,487 shares during the period. JPMorgan Chase & Co. owned approximately 0.24% of Academy Sports and Outdoors worth $9,645,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. William Blair Investment Management LLC purchased a new position in Academy Sports and Outdoors in the fourth quarter worth $52,402,000. Stephens Investment Management Group LLC boosted its holdings in shares of Academy Sports and Outdoors by 331.4% in the 4th quarter. Stephens Investment Management Group LLC now owns 959,680 shares of the company’s stock worth $55,210,000 after purchasing an additional 737,212 shares in the last quarter. American Century Companies Inc. increased its position in shares of Academy Sports and Outdoors by 77.2% during the 4th quarter. American Century Companies Inc. now owns 1,252,699 shares of the company’s stock valued at $72,068,000 after purchasing an additional 545,778 shares during the last quarter. Boston Partners purchased a new position in shares of Academy Sports and Outdoors during the 4th quarter valued at about $27,445,000. Finally, Greatmark Investment Partners Inc. bought a new stake in Academy Sports and Outdoors in the 4th quarter worth approximately $17,439,000.

Wall Street Analysts Forecast Growth

ASO has been the topic of several research reports. Wedbush decreased their price target on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Oppenheimer lowered their price target on shares of Academy Sports and Outdoors from $85.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Citigroup cut their price target on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, March 17th. JPMorgan Chase & Co. boosted their price objective on Academy Sports and Outdoors from $52.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Finally, Morgan Stanley cut their target price on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $58.63.

Academy Sports and Outdoors Price Performance

Shares of NASDAQ ASO opened at $37.25 on Tuesday. Academy Sports and Outdoors, Inc. has a 1 year low of $33.34 and a 1 year high of $64.62. The stock has a market capitalization of $2.50 billion, a P/E ratio of 6.12, a P/E/G ratio of 1.02 and a beta of 1.26. The company’s 50-day moving average is $46.88 and its 200 day moving average is $51.13. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.57 and a quick ratio of 0.32.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its earnings results on Thursday, March 20th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.14. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.21 EPS. On average, sell-side analysts expect that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current year.

Academy Sports and Outdoors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, March 25th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.52 annualized dividend and a yield of 1.40%. This is a positive change from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. Academy Sports and Outdoors’s dividend payout ratio (DPR) is currently 9.01%.

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.