Maryland State Retirement & Pension System Trims Position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Maryland State Retirement & Pension System lowered its position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,720 shares of the company’s stock after selling 369 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Academy Sports and Outdoors were worth $1,805,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new position in Academy Sports and Outdoors in the fourth quarter worth approximately $26,000. Future Financial Wealth Managment LLC acquired a new stake in Academy Sports and Outdoors in the first quarter worth about $68,000. EverSource Wealth Advisors LLC boosted its stake in Academy Sports and Outdoors by 517.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,050 shares of the company’s stock worth $69,000 after purchasing an additional 880 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Academy Sports and Outdoors during the fourth quarter valued at $73,000. Finally, GAMMA Investing LLC purchased a new stake in Academy Sports and Outdoors during the 4th quarter valued at about $83,000.

Academy Sports and Outdoors Stock Performance

Shares of ASO stock traded up $0.66 during mid-day trading on Friday, hitting $51.60. 187,334 shares of the stock were exchanged, compared to its average volume of 1,456,461. The stock’s fifty day simple moving average is $54.88 and its two-hundred day simple moving average is $61.85. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.62. Academy Sports and Outdoors, Inc. has a 12-month low of $42.83 and a 12-month high of $75.73. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 7.79, a P/E/G ratio of 0.86 and a beta of 1.34.

Academy Sports and Outdoors (NASDAQ:ASO) last released its quarterly earnings results on Tuesday, June 11th. The company reported $1.08 earnings per share (EPS) 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 firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the business earned $1.19 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, analysts forecast that Academy Sports and Outdoors, Inc. will post 6.4 EPS for the current year.

Academy Sports and Outdoors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Thursday, June 20th will be issued a $0.11 dividend. The ex-dividend date is Thursday, June 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.85%. Academy Sports and Outdoors’s payout ratio is 6.73%.

Insider Buying and Selling at Academy Sports and Outdoors

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $60.00, for a total transaction of $72,000.00. Following the transaction, the director now directly owns 7,870 shares in the company, valued at $472,200. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ASO shares. Truist Financial cut their price objective on shares of Academy Sports and Outdoors from $75.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, June 10th. Morgan Stanley decreased their target price on Academy Sports and Outdoors from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 12th. Loop Capital reiterated a “buy” rating and issued a $77.00 price objective on shares of Academy Sports and Outdoors in a report on Monday. UBS Group lowered shares of Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $81.00 to $58.00 in a report on Wednesday, June 12th. Finally, Robert W. Baird cut their price target on Academy Sports and Outdoors from $80.00 to $68.00 and set an “outperform” rating for the company in a report on Wednesday, June 12th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Academy Sports and Outdoors currently has an average rating of “Moderate Buy” and a consensus price target of $67.87.

Academy Sports and Outdoors Company 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.