Meritage Portfolio Management Acquires 1,087 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Meritage Portfolio Management grew its holdings in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 12.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,684 shares of the company’s stock after purchasing an additional 1,087 shares during the quarter. Meritage Portfolio Management’s holdings in Academy Sports and Outdoors were worth $557,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Harbor Capital Advisors Inc. acquired a new position in Academy Sports and Outdoors during the 3rd quarter worth approximately $28,000. V Square Quantitative Management LLC bought a new stake in shares of Academy Sports and Outdoors during the third quarter valued at approximately $40,000. TD Private Client Wealth LLC acquired a new position in shares of Academy Sports and Outdoors during the third quarter worth approximately $40,000. Farther Finance Advisors LLC lifted its holdings 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 purchasing an additional 366 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in Academy Sports and Outdoors in the 3rd quarter valued at $58,000.

Academy Sports and Outdoors Trading Up 1.5 %

Shares of Academy Sports and Outdoors stock opened at $51.98 on Thursday. The stock has a fifty day moving average price of $54.50 and a 200-day moving average price of $53.94. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.57 and a quick ratio of 0.32. The firm has a market cap of $3.61 billion, a PE ratio of 8.54, a P/E/G ratio of 1.17 and a beta of 1.23. Academy Sports and Outdoors, Inc. has a 1 year low of $44.73 and a 1 year high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.30). The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the business posted $1.38 EPS. Equities research analysts anticipate that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current year.

Academy Sports and Outdoors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, December 18th were paid a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $0.44 annualized dividend and a yield of 0.85%. Academy Sports and Outdoors’s payout ratio is 7.22%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ASO shares. TD Cowen upped their price objective on shares of Academy Sports and Outdoors from $54.00 to $61.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. Telsey Advisory Group lowered their target price on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Truist Financial lifted their price target on Academy Sports and Outdoors from $50.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Robert W. Baird decreased their price objective on Academy Sports and Outdoors from $68.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Finally, Wedbush restated an “outperform” rating and issued a $65.00 target price on shares of Academy Sports and Outdoors in a report on Wednesday, December 11th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $61.67.

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.