Allspring Global Investments Holdings LLC Acquires 70,438 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Allspring Global Investments Holdings LLC raised its position in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 23.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 370,715 shares of the company’s stock after buying an additional 70,438 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.50% of Academy Sports and Outdoors worth $24,467,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ASO. Advisory Services Network LLC lifted its position in shares of Academy Sports and Outdoors by 139.2% during the first quarter. Advisory Services Network LLC now owns 421 shares of the company’s stock valued at $27,000 after buying an additional 245 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Academy Sports and Outdoors by 55.0% during the first quarter. Captrust Financial Advisors now owns 1,006 shares of the company’s stock valued at $40,000 after buying an additional 357 shares during the last quarter. Ronald Blue Trust Inc. raised its position in shares of Academy Sports and Outdoors by 449.1% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,768 shares of the company’s stock valued at $84,000 after purchasing an additional 1,446 shares during the last quarter. KB Financial Partners LLC purchased a new position in shares of Academy Sports and Outdoors in the 2nd quarter valued at approximately $84,000. Finally, SkyView Investment Advisors LLC raised its position in shares of 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 during the last quarter.

Academy Sports and Outdoors Price Performance

NASDAQ:ASO opened at $59.02 on Friday. 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 firm has a market cap of $4.39 billion, a price-to-earnings ratio of 8.78, a price-to-earnings-growth ratio of 0.87 and a beta of 1.35. The company has a 50 day moving average price of $67.86 and a 200-day moving average price 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. Stockholders of record on Tuesday, March 26th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.75%. This is a positive change from Academy Sports and Outdoors’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, March 25th. Academy Sports and Outdoors’s payout ratio is 6.55%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Robert W. Baird increased their price objective on shares of Academy Sports and Outdoors from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. TD Cowen decreased their price objective on shares of Academy Sports and Outdoors from $86.00 to $82.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. JPMorgan Chase & Co. increased their price objective on shares of Academy Sports and Outdoors from $55.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Wedbush reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Academy Sports and Outdoors in a research report on Monday, April 1st. Finally, B. Riley reissued a “buy” rating and set a $72.00 price target (up from $65.00) on shares of Academy Sports and Outdoors in a research report on Monday, March 25th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.47.

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.