Hodges Capital Management Inc. Buys 50,375 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Hodges Capital Management Inc. increased its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 24.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 252,823 shares of the company’s stock after acquiring an additional 50,375 shares during the quarter. Academy Sports and Outdoors makes up about 0.9% of Hodges Capital Management Inc.’s portfolio, making the stock its 29th largest position. Hodges Capital Management Inc. owned approximately 0.36% of Academy Sports and Outdoors worth $14,755,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of ASO. Tidal Investments LLC acquired a new stake in Academy Sports and Outdoors in the first quarter valued at approximately $201,000. Cetera Advisors LLC acquired a new stake in Academy Sports and Outdoors in the 1st quarter valued at $262,000. CWM LLC increased its stake in Academy Sports and Outdoors by 36.9% during the 2nd quarter. CWM LLC now owns 4,284 shares of the company’s stock valued at $228,000 after purchasing an additional 1,155 shares in the last quarter. SG Americas Securities LLC raised its holdings in Academy Sports and Outdoors by 253.1% during the second quarter. SG Americas Securities LLC now owns 14,757 shares of the company’s stock worth $786,000 after buying an additional 10,578 shares during the last quarter. Finally, Great Valley Advisor Group Inc. lifted its stake in shares of Academy Sports and Outdoors by 3.6% in the second quarter. Great Valley Advisor Group Inc. now owns 7,673 shares of the company’s stock valued at $409,000 after buying an additional 269 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ASO. Wedbush restated an “outperform” rating and issued a $65.00 target price on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. Loop Capital reaffirmed a “buy” rating and set a $77.00 price objective on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. Wells Fargo & Company increased 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 report on Wednesday, September 11th. Jefferies Financial Group dropped 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. Finally, Truist Financial downgraded shares of Academy Sports and Outdoors from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $63.00 to $50.00 in a research report on Tuesday, November 19th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $61.21.

Insider Activity at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,200 shares of the company’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 completion of the sale, the director now directly owns 8,906 shares of the company’s stock, valued at approximately $552,172. This represents a 11.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.19% of the stock is owned by company insiders.

Academy Sports and Outdoors Stock Up 2.2 %

Shares of NASDAQ:ASO opened at $50.40 on Friday. 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, Inc. has a one year low of $44.73 and a one year high of $75.73. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 7.78, a PEG ratio of 0.95 and a beta of 1.31. The firm has a fifty day moving average price of $51.75 and a two-hundred day moving average price of $53.48.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its quarterly earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.07. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the business posted $2.01 EPS. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. Analysts anticipate that Academy Sports and Outdoors, Inc. will post 6 EPS for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 0.87%. The ex-dividend date of this dividend is Wednesday, December 18th. Academy Sports and Outdoors’s payout ratio is currently 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.