Commonwealth Equity Services LLC Decreases Stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Commonwealth Equity Services LLC reduced its position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,648 shares of the company’s stock after selling 486 shares during the period. Commonwealth Equity Services LLC’s holdings in Academy Sports and Outdoors were worth $461,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rothschild Investment LLC purchased a new position in Academy Sports and Outdoors in the 2nd quarter valued at about $690,000. Bryn Mawr Capital Management LLC boosted its position in Academy Sports and Outdoors by 3.1% in the 2nd quarter. Bryn Mawr Capital Management LLC now owns 38,693 shares of the company’s stock valued at $2,060,000 after buying an additional 1,154 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Academy Sports and Outdoors during the second quarter worth about $666,000. Peregrine Capital Management LLC lifted its position in shares of Academy Sports and Outdoors by 7.5% during the second quarter. Peregrine Capital Management LLC now owns 173,708 shares of the company’s stock worth $9,250,000 after purchasing an additional 12,185 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Academy Sports and Outdoors by 14.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,404 shares of the company’s stock worth $927,000 after purchasing an additional 2,134 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ASO. Jefferies Financial Group reduced their price target 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, September 11th. Evercore ISI increased their price target on shares of Academy Sports and Outdoors from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. cut shares of Academy Sports and Outdoors from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $76.00 to $53.00 in a research report on Monday, August 5th. UBS Group cut shares of Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $81.00 to $58.00 in a research report on Wednesday, June 12th. Finally, Loop Capital reaffirmed a “buy” rating and set a $77.00 price target on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.86.

Insider Buying and Selling at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,200 shares of the firm’s 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 sale, the director now owns 8,906 shares in the company, valued at $552,172. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jeffrey C. Tweedy sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total transaction of $74,400.00. Following the transaction, the director now owns 8,906 shares in the company, valued at $552,172. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 approximately $548,250.50. The disclosure for this sale can be found here. 2.19% of the stock is owned by company insiders.

Academy Sports and Outdoors Price Performance

ASO opened at $60.34 on Friday. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 9.23, a price-to-earnings-growth ratio of 0.94 and a beta of 1.34. Academy Sports and Outdoors, Inc. has a fifty-two week low of $42.83 and a fifty-two week high of $75.73. The company’s 50-day moving average price is $54.43 and its 200 day moving average price is $57.22. The company has a quick ratio of 0.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.25.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings results on Tuesday, September 10th. The company reported $2.03 EPS 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 company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the business earned $2.01 earnings per share. Academy Sports and Outdoors’s revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Academy Sports and Outdoors, Inc. will post 6.25 earnings per share for the current year.

Academy Sports and Outdoors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, September 19th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.44 annualized dividend and a dividend yield of 0.73%. Academy Sports and Outdoors’s payout ratio is currently 6.73%.

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.