Geode Capital Management LLC Purchases 50,715 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Geode Capital Management LLC grew its position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,023,192 shares of the company’s stock after purchasing an additional 50,715 shares during the quarter. Geode Capital Management LLC owned approximately 2.88% of Academy Sports and Outdoors worth $118,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC raised its stake in Academy Sports and Outdoors by 15.3% during the 3rd quarter. FMR LLC now owns 10,739,463 shares of the company’s stock valued at $626,755,000 after purchasing an additional 1,422,971 shares during the period. Pacer Advisors Inc. purchased a new stake in Academy Sports and Outdoors during the 2nd quarter valued at approximately $174,054,000. Dimensional Fund Advisors LP raised its position in shares of Academy Sports and Outdoors by 19.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,969,886 shares of the company’s stock valued at $158,147,000 after buying an additional 481,640 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Academy Sports and Outdoors by 4.2% in the second quarter. LSV Asset Management now owns 1,721,741 shares of the company’s stock worth $91,683,000 after buying an additional 69,700 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its position in shares of Academy Sports and Outdoors by 1.9% during the second quarter. King Luther Capital Management Corp now owns 1,613,209 shares of the company’s stock worth $85,903,000 after acquiring an additional 29,912 shares during the last quarter.

Academy Sports and Outdoors Stock Up 1.9 %

Shares of ASO opened at $56.01 on Wednesday. The firm has a fifty day moving average price of $51.43 and a 200-day moving average price of $53.41. The company has a current ratio of 1.57, a quick ratio of 0.41 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $3.89 billion, a P/E ratio of 9.20, a P/E/G ratio of 1.06 and a beta of 1.31. Academy Sports and Outdoors, Inc. has a 12-month low of $44.73 and a 12-month high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its earnings results on Tuesday, December 10th. The company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.30). Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the company earned $1.38 earnings per share. Academy Sports and Outdoors’s revenue was down 3.9% on a year-over-year basis. Equities research analysts expect that Academy Sports and Outdoors, Inc. will post 5.92 earnings per share for the current year.

Academy Sports and Outdoors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, December 18th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Wednesday, December 18th. Academy Sports and Outdoors’s dividend payout ratio is 7.22%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Loop Capital reissued a “buy” rating and set a $77.00 price objective on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. Jefferies Financial Group cut their price target on Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Wells Fargo & Company increased their target price on Academy Sports and Outdoors from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 11th. Robert W. Baird reduced their price target on shares of Academy Sports and Outdoors from $68.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Finally, Telsey Advisory Group lowered their price objective on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $61.07.

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.