Texas Permanent School Fund Corp Lowers Stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Texas Permanent School Fund Corp lowered its position in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 6.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,841 shares of the company’s stock after selling 4,055 shares during the quarter. Texas Permanent School Fund Corp owned 0.08% of Academy Sports and Outdoors worth $3,240,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Verition Fund Management LLC lifted its holdings in Academy Sports and Outdoors by 1,014.0% during the fourth quarter. Verition Fund Management LLC now owns 213,542 shares of the company’s stock valued at $14,094,000 after purchasing an additional 194,373 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of 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 buying an additional 172,783 shares during the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Academy Sports and Outdoors during the first quarter valued at approximately $1,021,000. Point72 Asset Management L.P. raised its position in shares of Academy Sports and Outdoors by 36.6% during 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 buying an additional 559,414 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Academy Sports and Outdoors by 75.0% during the first quarter. Russell Investments Group Ltd. now owns 39,589 shares of the company’s stock valued at $2,674,000 after buying an additional 16,970 shares during the last quarter.

Academy Sports and Outdoors Trading Up 5.6 %

Shares of ASO opened at $59.01 on Friday. Academy Sports and Outdoors, Inc. has a twelve month low of $42.83 and a twelve month high of $75.73. The company has a market cap of $4.26 billion, a P/E ratio of 9.02, a P/E/G ratio of 0.94 and a beta of 1.34. The company has a current ratio of 1.66, a quick ratio of 0.41 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $53.61 and its 200-day simple moving average is $57.57.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.07. Academy Sports and Outdoors had a net margin of 7.98% and a return on equity of 25.56%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the firm posted $2.01 earnings per share. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, analysts expect that Academy Sports and Outdoors, Inc. will post 6.25 EPS for the current year.

Academy Sports and Outdoors Announces Dividend

The business 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 $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, September 19th. Academy Sports and Outdoors’s dividend payout ratio is presently 6.73%.

Insider Buying and Selling

In related news, Director Jeffrey C. Tweedy sold 625 shares of the firm’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 owns 10,106 shares of the company’s stock, valued at approximately $548,250.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Telsey Advisory Group reiterated an “outperform” rating and set a $65.00 price objective on shares of Academy Sports and Outdoors in a research report on Thursday, September 5th. Morgan Stanley reiterated an “equal weight” rating and set a $60.00 price objective on shares of Academy Sports and Outdoors in a research report on Wednesday. Jefferies Financial Group reduced their price objective on shares of Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday. Wedbush restated an “outperform” rating and issued a $65.00 price target on shares of Academy Sports and Outdoors in a research report on Wednesday. Finally, Truist Financial upped their price target on shares of Academy Sports and Outdoors from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $62.86.

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.