Meritage Portfolio Management Acquires 174 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Meritage Portfolio Management increased its holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,337 shares of the company’s stock after acquiring an additional 174 shares during the period. Meritage Portfolio Management’s holdings in Academy Sports and Outdoors were worth $550,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new position in Academy Sports and Outdoors during the 4th quarter worth $83,000. SkyView Investment Advisors LLC lifted its position in shares of Academy Sports and Outdoors by 14.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 1,975 shares of the company’s stock worth $93,000 after buying an additional 245 shares in the last quarter. PFG Investments LLC grew its holdings in shares of Academy Sports and Outdoors by 7.9% in the third quarter. PFG Investments LLC now owns 4,402 shares of the company’s stock valued at $208,000 after acquiring an additional 321 shares in the last quarter. BRYN MAWR TRUST Co purchased a new stake in shares of Academy Sports and Outdoors during the third quarter valued at approximately $209,000. Finally, Avalon Capital Management purchased a new position in Academy Sports and Outdoors in the fourth quarter worth $211,000.

Academy Sports and Outdoors Price Performance

Shares of ASO traded up $1.34 during midday trading on Friday, reaching $60.41. The stock had a trading volume of 487,058 shares, compared to its average volume of 1,341,228. The company’s 50-day moving average is $66.36 and its 200 day moving average is $59.78. Academy Sports and Outdoors, Inc. has a 12-month low of $42.83 and a 12-month high of $75.73. The company has a current ratio of 1.87, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of 8.79, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35.

Academy Sports and Outdoors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, March 26th were paid a $0.11 dividend. The ex-dividend date of this dividend was Monday, March 25th. This represents a $0.44 annualized dividend and a dividend yield of 0.73%. This is an increase from Academy Sports and Outdoors’s previous quarterly dividend of $0.09. Academy Sports and Outdoors’s dividend payout ratio is presently 6.55%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ASO. Telsey Advisory Group dropped their target price on shares of Academy Sports and Outdoors from $83.00 to $75.00 and set an “outperform” rating on the stock in a research note on Thursday, March 21st. TD Cowen decreased their target price on Academy Sports and Outdoors from $86.00 to $82.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Morgan Stanley dropped their price target on Academy Sports and Outdoors from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Friday, March 22nd. JPMorgan Chase & Co. lifted their price objective on Academy Sports and Outdoors from $55.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Finally, Robert W. Baird upped their price objective on shares of Academy Sports and Outdoors from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.82.

Insider Buying and Selling

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $60.00, for a total value of $72,000.00. Following the sale, the director now owns 7,870 shares in the company, valued at approximately $472,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.56% of the stock is currently owned by company insiders.

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.