Victory Capital Management Inc. Buys 6,469 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Victory Capital Management Inc. boosted its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 16.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,094 shares of the company’s stock after purchasing an additional 6,469 shares during the period. Victory Capital Management Inc. owned about 0.06% of Academy Sports and Outdoors worth $2,401,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ASO. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Academy Sports and Outdoors during the 4th quarter valued at about $420,000. Janney Montgomery Scott LLC boosted its position in Academy Sports and Outdoors by 1.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,410 shares of the company’s stock valued at $1,875,000 after acquiring an additional 276 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Academy Sports and Outdoors by 58.0% during the 4th quarter. Quadrant Capital Group LLC now owns 3,186 shares of the company’s stock worth $210,000 after acquiring an additional 1,169 shares during the period. Norges Bank bought a new position in shares of Academy Sports and Outdoors in the 4th quarter worth approximately $47,768,000. Finally, Clearbridge Investments LLC purchased a new position in shares of Academy Sports and Outdoors in the 4th quarter valued at approximately $11,958,000.

Academy Sports and Outdoors Price Performance

NASDAQ ASO opened at $61.05 on Wednesday. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 0.94 and a beta of 1.34. Academy Sports and Outdoors, Inc. has a 1-year low of $42.83 and a 1-year high of $75.73. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 0.41. The business’s fifty day moving average price is $53.91 and its 200-day moving average price is $57.25.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.07. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The company 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 company earned $2.01 earnings per share. Academy Sports and Outdoors’s revenue was down 2.2% on a year-over-year basis. On average, equities analysts predict that Academy Sports and Outdoors, Inc. will post 6.25 earnings per share for the current year.

Academy Sports and Outdoors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, September 19th will be issued 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 yield of 0.72%. Academy Sports and Outdoors’s dividend payout ratio is currently 6.73%.

Insiders Place Their Bets

In other news, Director Jeffrey C. Tweedy sold 625 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $54.25, for a total value of $33,906.25. Following the completion of the sale, 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 available at the SEC website. Insiders own 2.19% of the company’s stock.

Analyst Ratings Changes

ASO has been the topic of a number of research reports. Robert W. Baird dropped their target price on shares of Academy Sports and Outdoors from $80.00 to $68.00 and set an “outperform” rating on the stock in a report on Wednesday, June 12th. Wedbush reiterated an “outperform” rating and issued a $65.00 price target on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. UBS Group downgraded shares of Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and cut their price objective for the company from $81.00 to $58.00 in a research report on Wednesday, June 12th. JPMorgan Chase & Co. cut shares of Academy Sports and Outdoors from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $76.00 to $53.00 in a report on Monday, August 5th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $60.00 price target on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.86.

About Academy Sports and Outdoors

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.