Principal Financial Group Inc. Boosts Stock Position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Principal Financial Group Inc. grew its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 345,718 shares of the company’s stock after acquiring an additional 4,279 shares during the period. Principal Financial Group Inc. owned 0.52% of Academy Sports and Outdoors worth $15,768,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. William Blair Investment Management LLC purchased a new stake in shares of Academy Sports and Outdoors in the 4th quarter valued at about $52,402,000. Norges Bank purchased a new position in Academy Sports and Outdoors in the fourth quarter worth $47,436,000. Hood River Capital Management LLC purchased a new position in Academy Sports and Outdoors in the fourth quarter worth $42,320,000. American Century Companies Inc. grew its position in Academy Sports and Outdoors by 77.2% in the fourth quarter. American Century Companies Inc. now owns 1,252,699 shares of the company’s stock worth $72,068,000 after acquiring an additional 545,778 shares in the last quarter. Finally, Boston Partners purchased a new position in Academy Sports and Outdoors in the fourth quarter worth $27,445,000.

Academy Sports and Outdoors Stock Performance

NASDAQ:ASO opened at $50.66 on Friday. The stock has a market cap of $3.37 billion, a P/E ratio of 9.31, a price-to-earnings-growth ratio of 0.96 and a beta of 1.29. The firm’s fifty day simple moving average is $44.23 and its 200 day simple moving average is $46.92. Academy Sports and Outdoors, Inc. has a twelve month low of $33.34 and a twelve month high of $64.62. The company has a quick ratio of 0.29, a current ratio of 1.52 and a debt-to-equity ratio of 0.25.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its earnings results on Tuesday, June 10th. The company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.13). Academy Sports and Outdoors had a net margin of 6.55% and a return on equity of 19.62%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the business posted $1.08 EPS. Academy Sports and Outdoors’s revenue for the quarter was down .9% on a year-over-year basis. As a group, research analysts predict that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current year.

Academy Sports and Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Thursday, June 19th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Wednesday, June 18th. Academy Sports and Outdoors’s dividend payout ratio (DPR) is 9.56%.

Insiders Place Their Bets

In other Academy Sports and Outdoors news, Director Christopher Lee Turner sold 4,400 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $44.48, for a total transaction of $195,712.00. Following the sale, the director directly owned 7,084 shares in the company, valued at approximately $315,096.32. This trade represents a 38.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.62% of the company’s stock.

Wall Street Analyst Weigh In

ASO has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on shares of Academy Sports and Outdoors from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Oppenheimer decreased their price target on shares of Academy Sports and Outdoors from $85.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Truist Financial lifted their price target on shares of Academy Sports and Outdoors from $45.00 to $47.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. 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. Finally, Citigroup decreased their price target on shares of Academy Sports and Outdoors from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, June 4th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.31.

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.