Raymond James & Associates Acquires 16,947 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Raymond James & Associates lifted its holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASOGet Rating) by 27.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,117 shares of the company’s stock after buying an additional 16,947 shares during the quarter. Raymond James & Associates’ holdings in Academy Sports and Outdoors were worth $3,337,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ASO. Ronald Blue Trust Inc. bought a new position in shares of Academy Sports and Outdoors in the third quarter valued at about $29,000. Captrust Financial Advisors raised its holdings in Academy Sports and Outdoors by 55.0% during the 1st 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. Kistler Tiffany Companies LLC bought a new stake in Academy Sports and Outdoors during the 2nd quarter worth about $96,000. FinTrust Capital Advisors LLC bought a new stake in Academy Sports and Outdoors during the 2nd quarter worth about $104,000. Finally, Counterpoint Mutual Funds LLC raised its holdings in Academy Sports and Outdoors by 408.8% during the 2nd quarter. Counterpoint Mutual Funds LLC now owns 3,338 shares of the company’s stock worth $119,000 after purchasing an additional 2,682 shares during the last quarter. 94.63% of the stock is owned by institutional investors.

Academy Sports and Outdoors Price Performance

Shares of ASO opened at $52.91 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.32 and a current ratio of 1.57. The stock has a 50 day simple moving average of $51.59 and a 200 day simple moving average of $46.54. Academy Sports and Outdoors, Inc. has a 52-week low of $25.10 and a 52-week high of $57.85. The firm has a market capitalization of $4.13 billion, a PE ratio of 7.45, a P/E/G ratio of 0.71 and a beta of 1.14.

Academy Sports and Outdoors (NASDAQ:ASOGet Rating) last issued its quarterly earnings data on Wednesday, December 7th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.03. Academy Sports and Outdoors had a return on equity of 41.27% and a net margin of 9.48%. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.55 billion. Sell-side analysts predict that Academy Sports and Outdoors, Inc. will post 7.39 EPS for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Tuesday, December 20th were given a $0.075 dividend. The ex-dividend date of this dividend was Monday, December 19th. This represents a $0.30 annualized dividend and a dividend yield of 0.57%. Academy Sports and Outdoors’s dividend payout ratio is presently 4.23%.

Analysts Set New Price Targets

Several brokerages have weighed in on ASO. Guggenheim boosted their price objective on Academy Sports and Outdoors to $63.00 in a report on Monday, December 12th. Loop Capital boosted their price objective on Academy Sports and Outdoors from $60.00 to $65.00 in a report on Wednesday, December 14th. The Goldman Sachs Group boosted their price objective on Academy Sports and Outdoors from $53.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, December 12th. Stephens upped their price target on Academy Sports and Outdoors from $76.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, December 8th. Finally, Wedbush upped their price target on Academy Sports and Outdoors from $57.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, December 8th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $64.36.

Insider Activity at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, CFO Michael P. Mullican sold 81,008 shares of the company’s stock in a transaction that occurred on Thursday, December 8th. The stock was sold at an average price of $55.45, for a total transaction of $4,491,893.60. Following the completion of the transaction, the chief financial officer now owns 105,582 shares of the company’s stock, valued at approximately $5,854,521.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Academy Sports and Outdoors news, CFO Michael P. Mullican sold 81,008 shares of the company’s stock in a transaction that occurred on Thursday, December 8th. The stock was sold at an average price of $55.45, for a total transaction of $4,491,893.60. Following the completion of the transaction, the chief financial officer now owns 105,582 shares of the company’s stock, valued at approximately $5,854,521.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Heather A. Davis sold 6,307 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $43.13, for a total value of $272,020.91. Following the transaction, the senior vice president now directly owns 88,075 shares of the company’s stock, valued at approximately $3,798,674.75. The disclosure for this sale can be found here. In the last three months, insiders sold 144,701 shares of company stock worth $7,893,878. 3.51% of the stock is owned by company insiders.

Academy Sports and Outdoors Profile

(Get Rating)

Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational products retailer in the United States. The company sells coolers and drinkware, camping accessories, camping equipment, sunglasses, backpacks, and sports bags; marine equipment and fishing rods, reels, baits, and equipment; firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, optics, airguns, and hunting equipment; team sports equipment, including baseball, football, basketball, soccer, golf, racket sports, and volleyball; fitness equipment and accessories, and nutrition supplies; and patio furniture, outdoor cooking, wheeled goods, trampolines, playsets, watersports, and pet equipment, as well as electronics products, watches, consumables, batteries, etc.

Further Reading

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Institutional Ownership by Quarter for Academy Sports and Outdoors (NASDAQ:ASO)

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