Envestnet Asset Management Inc. Grows Stock Position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Envestnet Asset Management Inc. increased its holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 231,321 shares of the company’s stock after buying an additional 13,677 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Academy Sports and Outdoors were worth $13,308,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ASO. Geode Capital Management LLC raised its stake in shares of Academy Sports and Outdoors by 2.6% in the third quarter. Geode Capital Management LLC now owns 2,023,192 shares of the company’s stock worth $118,092,000 after buying an additional 50,715 shares during the period. Bank of New York Mellon Corp raised its stake in Academy Sports and Outdoors by 14.6% during the 4th quarter. Bank of New York Mellon Corp now owns 712,226 shares of the company’s stock worth $40,974,000 after acquiring an additional 90,592 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Academy Sports and Outdoors during the fourth quarter valued at approximately $1,969,000. Empowered Funds LLC lifted its holdings in Academy Sports and Outdoors by 20.6% during the fourth quarter. Empowered Funds LLC now owns 163,109 shares of the company’s stock valued at $9,384,000 after purchasing an additional 27,824 shares in the last quarter. Finally, Pacifica Capital Investments LLC boosted its position in shares of Academy Sports and Outdoors by 7.9% in the fourth quarter. Pacifica Capital Investments LLC now owns 400,505 shares of the company’s stock worth $23,041,000 after purchasing an additional 29,410 shares during the period.

Analyst Ratings Changes

ASO has been the topic of a number of analyst reports. Citigroup lowered their target price on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Oppenheimer lowered their price objective on Academy Sports and Outdoors from $85.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Telsey Advisory Group reiterated an “outperform” rating and set a $60.00 target price on shares of Academy Sports and Outdoors in a research report on Monday, March 17th. Evercore ISI lowered their price target on Academy Sports and Outdoors from $54.00 to $53.00 and set an “in-line” rating on the stock in a report on Tuesday, April 1st. Finally, Robert W. Baird dropped their price target on Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a research note 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.63.

Academy Sports and Outdoors Price Performance

ASO stock opened at $36.65 on Thursday. Academy Sports and Outdoors, Inc. has a 52 week low of $33.34 and a 52 week high of $64.62. The firm has a market capitalization of $2.46 billion, a P/E ratio of 6.02, a price-to-earnings-growth ratio of 1.02 and a beta of 1.26. The company has a fifty day simple moving average of $46.30 and a two-hundred day simple moving average of $50.93. The company has a quick ratio of 0.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.25.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings results on Thursday, March 20th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.14. Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the firm earned $2.21 EPS. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. Analysts anticipate that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current fiscal year.

Academy Sports and Outdoors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, March 25th will be issued a $0.13 dividend. This is a boost from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.42%. Academy Sports and Outdoors’s payout ratio is 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.