Sunbelt Securities Inc. Cuts Stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Sunbelt Securities Inc. reduced its holdings in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,128 shares of the company’s stock after selling 485 shares during the period. Sunbelt Securities Inc.’s holdings in Academy Sports and Outdoors were worth $481,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ASO. Jones Financial Companies Lllp bought a new position in shares of Academy Sports and Outdoors during the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Academy Sports and Outdoors by 517.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,050 shares of the company’s stock worth $69,000 after buying an additional 880 shares during the period. Kapitalo Investimentos Ltda bought a new stake in shares of Academy Sports and Outdoors in the 4th quarter valued at about $73,000. GAMMA Investing LLC purchased a new stake in Academy Sports and Outdoors during the 4th quarter valued at about $83,000. Finally, SkyView Investment Advisors LLC grew its position in Academy Sports and Outdoors by 14.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 1,975 shares of the company’s stock worth $93,000 after acquiring an additional 245 shares during the last quarter.

Insider Transactions at Academy Sports and Outdoors

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $60.00, for a total value of $72,000.00. Following the transaction, the director now owns 7,870 shares in the company, valued at approximately $472,200. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wells Fargo & Company reiterated an “equal weight” rating and issued a $55.00 price objective (down previously from $80.00) on shares of Academy Sports and Outdoors in a research report on Wednesday, June 12th. Telsey Advisory Group reissued an “outperform” rating and set a $75.00 price target on shares of Academy Sports and Outdoors in a research report on Tuesday, June 11th. UBS Group cut shares of Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $81.00 to $58.00 in a research report on Wednesday, June 12th. Evercore ISI increased their target price on shares of Academy Sports and Outdoors from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. Finally, Truist Financial reduced their price target on Academy Sports and Outdoors from $75.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, June 10th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.93.

Academy Sports and Outdoors Price Performance

NASDAQ:ASO opened at $52.73 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.62 and a quick ratio of 0.41. The firm’s 50-day moving average price is $55.65 and its 200-day moving average price is $62.16. The company has a market capitalization of $3.80 billion, a PE ratio of 8.06, a P/E/G ratio of 0.89 and a beta of 1.37. 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 (NASDAQ:ASO) last announced its quarterly earnings data on Tuesday, June 11th. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.11). Academy Sports and Outdoors had a return on equity of 27.18% and a net margin of 8.17%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the company posted $1.19 EPS. Academy Sports and Outdoors’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities analysts predict that Academy Sports and Outdoors, Inc. will post 6.4 EPS for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Thursday, June 20th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.83%. The ex-dividend date is Thursday, June 20th. Academy Sports and Outdoors’s dividend payout ratio (DPR) is 6.73%.

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, 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.