Bank of Montreal Can Increases Stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Bank of Montreal Can raised its holdings in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 4.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,181 shares of the company’s stock after buying an additional 475 shares during the period. Bank of Montreal Can’s holdings in Academy Sports and Outdoors were worth $543,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ASO. Point72 Asset Management L.P. increased its stake 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 worth $137,878,000 after purchasing an additional 559,414 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Academy Sports and Outdoors by 20.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,010,989 shares of the company’s stock worth $66,725,000 after purchasing an additional 172,783 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Academy Sports and Outdoors in the fourth quarter worth $73,000. Moody National Bank Trust Division increased its stake in shares of Academy Sports and Outdoors by 2.1% in the first quarter. Moody National Bank Trust Division now owns 13,487 shares of the company’s stock worth $911,000 after purchasing an additional 276 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in Academy Sports and Outdoors during the first quarter valued at $68,000.

Academy Sports and Outdoors Trading Up 0.3 %

ASO stock opened at $55.00 on Wednesday. The company has a market capitalization of $3.97 billion, a PE ratio of 8.38, a P/E/G ratio of 1.16 and a beta of 1.34. Academy Sports and Outdoors, Inc. has a 12 month low of $43.07 and a 12 month high of $75.73. The firm’s 50-day moving average is $55.12 and its 200 day moving average is $56.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 0.41.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its earnings results on Tuesday, September 10th. The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.07. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. Academy Sports and Outdoors had a net margin of 7.98% and a return on equity of 25.56%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.01 EPS. On average, research analysts anticipate that Academy Sports and Outdoors, Inc. will post 6.03 EPS for the current year.

Academy Sports and Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Thursday, September 19th. Academy Sports and Outdoors’s payout ratio is currently 6.73%.

Insider Transactions at Academy Sports and Outdoors

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of Academy Sports and Outdoors stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total value of $74,400.00. Following the completion of the sale, the director now directly owns 8,906 shares in the company, valued at $552,172. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Jeffrey C. Tweedy sold 1,200 shares of Academy Sports and Outdoors stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total value of $74,400.00. Following the completion of the sale, the director now directly owns 8,906 shares in the company, valued at $552,172. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey C. Tweedy sold 625 shares of Academy Sports and Outdoors stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $54.25, for a total transaction of $33,906.25. Following the completion of the sale, the director now owns 10,106 shares of the company’s stock, valued at $548,250.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.19% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ASO. Wedbush reaffirmed an “outperform” rating and set a $65.00 target price on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. JPMorgan Chase & Co. cut shares of Academy Sports and Outdoors from an “overweight” rating to a “neutral” rating and cut their target price for the company from $76.00 to $53.00 in a research note on Monday, August 5th. UBS Group lowered shares of Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $81.00 to $58.00 in a research report on Wednesday, June 12th. Truist Financial increased their price objective on shares of Academy Sports and Outdoors from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Jefferies Financial Group lowered their price objective on shares of Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.50.

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.