Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Stake Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 3.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 687,469 shares of the company’s stock after selling 24,757 shares during the quarter. Bank of New York Mellon Corp owned about 1.03% of Academy Sports and Outdoors worth $31,355,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. William Blair Investment Management LLC bought a new position in shares of Academy Sports and Outdoors during the fourth quarter worth $52,402,000. Norges Bank acquired a new position in Academy Sports and Outdoors during the fourth quarter worth about $47,436,000. Hood River Capital Management LLC acquired a new position in shares of Academy Sports and Outdoors in the fourth quarter valued at approximately $42,320,000. American Century Companies Inc. lifted its holdings in 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 worth $72,068,000 after buying an additional 545,778 shares during the period. Finally, Boston Partners acquired a new position in Academy Sports and Outdoors in the fourth quarter valued at $27,445,000.

Analyst Ratings Changes

Several brokerages have commented on ASO. Robert W. Baird cut their price target on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, March 21st. UBS Group dropped their target price on shares of Academy Sports and Outdoors from $54.00 to $48.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 4th. Morgan Stanley lowered their price objective on shares of Academy Sports and Outdoors from $55.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 11th. Wedbush reduced their target price on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Finally, Oppenheimer reduced their price objective 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. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.31.

Academy Sports and Outdoors Stock Up 0.4%

ASO stock opened at $51.31 on Wednesday. The stock’s 50 day moving average is $44.77 and its 200-day moving average is $46.72. The firm has a market capitalization of $3.41 billion, a PE ratio of 9.43, a P/E/G ratio of 0.95 and a beta of 1.29. 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 issued its earnings results on Tuesday, June 10th. The company reported $0.76 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the business posted $1.08 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. Sell-side analysts expect that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Thursday, June 19th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Wednesday, June 18th. Academy Sports and Outdoors’s dividend payout ratio is presently 9.56%.

Insider Buying and Selling

In related news, Director Christopher Lee Turner sold 4,400 shares of the company’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $44.48, for a total value of $195,712.00. Following the transaction, the director directly owned 7,084 shares of the company’s stock, valued at $315,096.32. This represents a 38.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.62% of the stock is owned by company insiders.

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.