JPMorgan Chase & Co. Boosts Holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

JPMorgan Chase & Co. lifted its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 326,132 shares of the company’s stock after acquiring an additional 8,848 shares during the period. JPMorgan Chase & Co. owned 0.47% of Academy Sports and Outdoors worth $19,033,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ASO. FMR LLC raised its holdings in shares of Academy Sports and Outdoors by 15.3% in the 3rd quarter. FMR LLC now owns 10,739,463 shares of the company’s stock worth $626,755,000 after purchasing an additional 1,422,971 shares during the period. Pacer Advisors Inc. purchased a new position in Academy Sports and Outdoors in the second quarter valued at approximately $174,054,000. Dimensional Fund Advisors LP lifted its position in 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 in the last quarter. Geode Capital Management LLC grew its stake in Academy Sports and Outdoors by 2.6% during the third quarter. Geode Capital Management LLC now owns 2,023,192 shares of the company’s stock worth $118,092,000 after buying an additional 50,715 shares during the period. Finally, King Luther Capital Management Corp increased its position in shares of Academy Sports and Outdoors by 1.9% in 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 in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ASO shares. Citigroup began coverage on shares of Academy Sports and Outdoors in a report on Wednesday, December 18th. They set a “buy” rating and a $65.00 target price on the stock. Truist Financial upped their target price on Academy Sports and Outdoors from $50.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Robert W. Baird dropped their target price on Academy Sports and Outdoors from $68.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Telsey Advisory Group decreased their price target on Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. Finally, Wedbush reiterated an “outperform” rating and set a $65.00 price objective on shares of Academy Sports and Outdoors in a research note on Wednesday, December 11th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Academy Sports and Outdoors presently has a consensus rating of “Hold” and an average target price of $61.67.

Academy Sports and Outdoors Stock Up 2.2 %

NASDAQ:ASO opened at $58.86 on Friday. The stock has a 50-day simple moving average of $52.78 and a 200 day simple moving average of $53.82. Academy Sports and Outdoors, Inc. has a one year low of $44.73 and a one year high of $75.73. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 9.67, a price-to-earnings-growth ratio of 1.06 and a beta of 1.25. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.57.

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

Academy Sports and Outdoors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 0.75%. The ex-dividend date of this dividend is Wednesday, December 18th. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 7.22%.

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.