Bessemer Group Inc. Boosts Stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Bessemer Group Inc. raised its position in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 7.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,977 shares of the company’s stock after buying an additional 14,862 shares during the quarter. Bessemer Group Inc. owned about 0.30% of Academy Sports and Outdoors worth $14,790,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in Academy Sports and Outdoors by 52.3% during the 4th quarter. Victory Capital Management Inc. now owns 46,454 shares of the company’s stock valued at $3,066,000 after buying an additional 15,955 shares in the last quarter. Verition Fund Management LLC lifted its stake in shares of Academy Sports and Outdoors by 1,014.0% during the 4th quarter. Verition Fund Management LLC now owns 213,542 shares of the company’s stock worth $14,094,000 after purchasing an additional 194,373 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Academy Sports and Outdoors by 20.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,010,989 shares of the company’s stock valued at $66,725,000 after purchasing an additional 172,783 shares in the last quarter. Bryn Mawr Capital Management LLC purchased a new position in Academy Sports and Outdoors in the fourth quarter valued at about $2,501,000. Finally, Point72 Asset Management L.P. raised its holdings in Academy Sports and Outdoors by 36.6% in the fourth quarter. Point72 Asset Management L.P. now owns 2,089,067 shares of the company’s stock worth $137,878,000 after purchasing an additional 559,414 shares in the last quarter.

Academy Sports and Outdoors Price Performance

NASDAQ ASO traded down $0.22 during trading hours on Thursday, hitting $54.16. 230,314 shares of the company’s stock traded hands, compared to its average volume of 1,465,328. The company has a market capitalization of $3.91 billion, a PE ratio of 8.35, a PEG ratio of 0.93 and a beta of 1.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.62 and a quick ratio of 0.41. Academy Sports and Outdoors, Inc. has a 52-week low of $42.83 and a 52-week high of $75.73. The firm’s 50-day moving average is $53.92 and its 200-day moving average is $60.84.

Academy Sports and Outdoors (NASDAQ:ASO) last posted 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 net margin of 8.17% and a return on equity of 27.18%. The company 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 earned $1.19 earnings per share. Academy Sports and Outdoors’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities analysts forecast that Academy Sports and Outdoors, Inc. will post 6.35 EPS for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Thursday, June 20th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $0.44 annualized dividend and a dividend yield of 0.81%. Academy Sports and Outdoors’s payout ratio is 6.73%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ASO shares. Morgan Stanley reduced their target price on Academy Sports and Outdoors from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 12th. Truist Financial decreased their target price on Academy Sports and Outdoors from $75.00 to $73.00 and set a “buy” rating for the company in a report on Monday, June 10th. Telsey Advisory Group reiterated an “outperform” rating and issued a $75.00 price target on shares of Academy Sports and Outdoors in a report on Tuesday, June 11th. Wedbush decreased their price objective on shares of Academy Sports and Outdoors from $80.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. Finally, Evercore ISI increased their price objective on shares of Academy Sports and Outdoors from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, June 20th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Academy Sports and Outdoors has an average rating of “Moderate Buy” and an average target price of $67.87.

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 dated Tuesday, July 16th. The shares were sold at an average price of $54.25, for a total value of $33,906.25. Following the transaction, the director now directly owns 10,106 shares in the company, valued at approximately $548,250.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.19% of the stock is currently owned by insiders.

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.