Fmr LLC Buys 1,422,971 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Fmr LLC grew its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 15.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,739,463 shares of the company’s stock after purchasing an additional 1,422,971 shares during the quarter. Fmr LLC owned approximately 15.27% of Academy Sports and Outdoors worth $626,755,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new stake in shares of Academy Sports and Outdoors in the third quarter worth about $28,000. V Square Quantitative Management LLC purchased a new stake in Academy Sports and Outdoors in the 3rd quarter worth approximately $40,000. Farther Finance Advisors LLC grew its position in shares of Academy Sports and Outdoors by 98.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 738 shares of the company’s stock worth $43,000 after buying an additional 366 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Academy Sports and Outdoors during the third quarter valued at approximately $58,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Academy Sports and Outdoors by 53.7% during the third quarter. Nisa Investment Advisors LLC now owns 1,205 shares of the company’s stock valued at $70,000 after acquiring an additional 421 shares in the last quarter.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Jefferies Financial Group cut 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 report on Wednesday, September 11th. Wells Fargo & Company lifted their target price on shares of Academy Sports and Outdoors from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 11th. Loop Capital reissued a “buy” rating and issued a $77.00 price target on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Wedbush reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $60.00 target price on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.57.

Insiders Place Their Bets

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 value of $74,400.00. Following the sale, the director now owns 8,906 shares in the company, valued at approximately $552,172. This trade represents a 11.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.19% of the stock is owned by insiders.

Academy Sports and Outdoors Stock Up 1.7 %

NASDAQ:ASO opened at $48.85 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.66. The firm has a market cap of $3.43 billion, a P/E ratio of 7.54, a P/E/G ratio of 0.95 and a beta of 1.37. Academy Sports and Outdoors, Inc. has a fifty-two week low of $44.73 and a fifty-two week high of $75.73. The firm has a 50-day simple moving average of $53.24 and a two-hundred day simple moving average of $53.73.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.07. The company had revenue of $1.55 billion during 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 firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.01 earnings per share. Analysts predict that Academy Sports and Outdoors, Inc. will post 6.01 earnings per share for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, September 19th were issued a $0.11 dividend. The ex-dividend date was Thursday, September 19th. This represents a $0.44 annualized dividend and a yield of 0.90%. Academy Sports and Outdoors’s payout ratio is 6.79%.

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.