Thoroughbred Financial Services LLC Grows Stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Thoroughbred Financial Services LLC lifted its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 6.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 11,490 shares of the company’s stock after buying an additional 666 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Academy Sports and Outdoors were worth $611,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. QRG Capital Management Inc. boosted its position in shares of Academy Sports and Outdoors by 21.1% during the fourth quarter. QRG Capital Management Inc. now owns 6,095 shares of the company’s stock valued at $402,000 after buying an additional 1,064 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of Academy Sports and Outdoors in the 4th quarter worth approximately $420,000. Janney Montgomery Scott LLC boosted its holdings in shares of Academy Sports and Outdoors by 1.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 28,410 shares of the company’s stock worth $1,875,000 after buying an additional 276 shares during the last quarter. Quadrant Capital Group LLC grew its position in Academy Sports and Outdoors by 58.0% during the fourth quarter. Quadrant Capital Group LLC now owns 3,186 shares of the company’s stock valued at $210,000 after buying an additional 1,169 shares during the period. Finally, Norges Bank bought a new position in Academy Sports and Outdoors in the fourth quarter worth approximately $47,768,000.

Academy Sports and Outdoors Stock Performance

Academy Sports and Outdoors stock opened at $59.47 on Tuesday. The company has a quick ratio of 0.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.25. Academy Sports and Outdoors, Inc. has a twelve month low of $42.83 and a twelve month high of $75.73. The company’s 50-day moving average price is $53.73 and its 200-day moving average price is $57.35. The company has a market cap of $4.29 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.94 and a beta of 1.34.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings data on Tuesday, September 10th. The company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.07. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.01 earnings per share. On average, equities research analysts forecast that Academy Sports and Outdoors, Inc. will post 6.25 EPS for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, September 19th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.74%. Academy Sports and Outdoors’s dividend payout ratio is presently 6.73%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Bank of America cut Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $75.00 to $63.00 in a report on Tuesday, June 11th. JPMorgan Chase & Co. lowered shares of Academy Sports and Outdoors from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $76.00 to $53.00 in a report on Monday, August 5th. TD Cowen lifted their price target on shares of Academy Sports and Outdoors from $54.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, September 11th. Evercore ISI increased their price objective on shares of Academy Sports and Outdoors from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $65.00 target price on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.86.

Insider Activity at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 625 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $54.25, for a total transaction of $33,906.25. Following the completion of the transaction, the director now owns 10,106 shares in the company, valued at $548,250.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.19% of the stock is currently owned by insiders.

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.