Moody National Bank Trust Division Raises Stock Holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Moody National Bank Trust Division boosted its holdings in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,293 shares of the company’s stock after purchasing an additional 806 shares during the quarter. Moody National Bank Trust Division’s holdings in Academy Sports and Outdoors were worth $761,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Academy Sports and Outdoors during the fourth quarter valued at approximately $47,768,000. Point72 Asset Management L.P. increased its holdings in shares of 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 valued at $137,878,000 after purchasing an additional 559,414 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Academy Sports and Outdoors in the fourth quarter valued at approximately $25,933,000. LSV Asset Management increased its holdings in shares of Academy Sports and Outdoors by 28.4% in the fourth quarter. LSV Asset Management now owns 1,652,541 shares of the company’s stock valued at $109,068,000 after purchasing an additional 365,855 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Academy Sports and Outdoors by 953.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 403,467 shares of the company’s stock valued at $26,629,000 after purchasing an additional 365,168 shares during the last quarter.

Academy Sports and Outdoors Stock Down 0.7 %

NASDAQ:ASO traded down $0.35 on Monday, reaching $48.79. The stock had a trading volume of 2,584,958 shares, compared to its average volume of 1,478,016. The company has a current ratio of 1.62, a quick ratio of 0.41 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average of $53.72 and a 200 day moving average of $60.20. The stock has a market cap of $3.52 billion, a P/E ratio of 7.46, a price-to-earnings-growth ratio of 0.87 and a beta of 1.34. Academy Sports and Outdoors, Inc. has a 12-month low of $42.83 and a 12-month high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings results on Tuesday, June 11th. The company reported $1.08 EPS for the quarter, missing the consensus estimate 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 company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the business posted $1.19 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts predict that Academy Sports and Outdoors, Inc. will post 6.35 earnings per share for the current year.

Academy Sports and Outdoors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Thursday, June 20th were paid a $0.11 dividend. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $0.44 annualized dividend and a dividend yield of 0.90%. Academy Sports and Outdoors’s payout ratio is currently 6.73%.

Insider Buying and Selling at Academy Sports and Outdoors

In related news, Director Jeffrey C. Tweedy sold 625 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $54.25, for a total transaction of $33,906.25. Following the transaction, the director now owns 10,106 shares in the company, valued at $548,250.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ASO shares. JPMorgan Chase & Co. cut Academy Sports and Outdoors from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $76.00 to $53.00 in a research note on Monday. Truist Financial cut their target price on Academy Sports and Outdoors from $75.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, June 10th. Loop Capital reissued a “buy” rating and set a $77.00 target price on shares of Academy Sports and Outdoors in a research note on Monday, July 1st. Wells Fargo & Company restated an “equal weight” rating and set a $55.00 price target (down from $80.00) on shares of Academy Sports and Outdoors in a research report on Wednesday, June 12th. Finally, Morgan Stanley lowered their price target on Academy Sports and Outdoors from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 12th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Academy Sports and Outdoors presently has an average rating of “Moderate Buy” and an average price target of $65.60.

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.