Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Shares Acquired by Citigroup Inc.

Posted by Defense World Staff on May 24th, 2023

Citigroup Inc. lifted its holdings in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO – Get Rating) by 28.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,005 shares of the company’s stock after purchasing an additional 11,861 shares during the quarter. Citigroup Inc. owned about 0.07% of Academy Sports and Outdoors worth $2,837,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Braun Stacey Associates Inc. purchased a new position in shares of Academy Sports and Outdoors in the 4th quarter worth $6,513,000. Russell Investments Group Ltd. raised its position in shares of Academy Sports and Outdoors by 31.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 107,745 shares of the company’s stock worth $4,542,000 after buying an additional 26,062 shares during the period. LSV Asset Management raised its position in shares of Academy Sports and Outdoors by 114.5% in the 4th quarter. LSV Asset Management now owns 1,259,160 shares of the company’s stock worth $66,156,000 after buying an additional 672,160 shares during the period. Sigma Planning Corp purchased a new position in shares of Academy Sports and Outdoors in the 3rd quarter worth $213,000. Finally, Bullseye Investment Management LLC purchased a new position in shares of Academy Sports and Outdoors in the 4th quarter worth $1,939,000. Institutional investors and hedge funds own 94.63% of the company’s stock.

Analyst Upgrades and Downgrades

ASO has been the topic of several research reports. Jefferies Financial Group initiated coverage on Academy Sports and Outdoors in a research report on Tuesday, March 14th. They issued a “buy” rating and a $73.00 target price on the stock. The Goldman Sachs Group raised their price objective on Academy Sports and Outdoors from $65.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, February 17th. Robert W. Baird initiated coverage on Academy Sports and Outdoors in a research report on Tuesday, March 21st. They issued an “outperform” rating and a $80.00 price objective on the stock. Cowen initiated coverage on Academy Sports and Outdoors in a research report on Thursday, February 16th. They issued an “outperform” rating and a $72.00 price objective on the stock. Finally, Wedbush raised their price objective on Academy Sports and Outdoors from $68.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, March 17th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Academy Sports and Outdoors presently has an average rating of “Moderate Buy” and an average target price of $73.80.

Academy Sports and Outdoors Stock Down 0.5 %

Shares of Academy Sports and Outdoors stock opened at $52.67 on Wednesday. The business has a 50-day moving average of $62.81 and a 200-day moving average of $57.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.62 and a quick ratio of 0.39. The company has a market capitalization of $4.06 billion, a PE ratio of 7.02, a P/E/G ratio of 0.60 and a beta of 1.14. Academy Sports and Outdoors, Inc. has a 1-year low of $25.10 and a 1-year high of $69.02.

Academy Sports and Outdoors (NASDAQ:ASO – Get Rating) last announced its earnings results on Thursday, March 16th. The company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.16. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.79 billion. Academy Sports and Outdoors had a return on equity of 41.09% and a net margin of 9.82%. During the same period last year, the firm earned $1.61 earnings per share. As a group, equities analysts forecast that Academy Sports and Outdoors, Inc. will post 7.18 EPS for the current fiscal year.

Academy Sports and Outdoors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 13th. Stockholders of record on Thursday, March 23rd were given a $0.09 dividend. This is a positive change from Academy Sports and Outdoors’s previous quarterly dividend of $0.08. The ex-dividend date was Wednesday, March 22nd. This represents a $0.36 annualized dividend and a dividend yield of 0.68%. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 4.80%.

Academy Sports and Outdoors Profile

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Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational products retailer in the United States. The company sells coolers and drinkware, camping accessories, camping equipment, sunglasses, backpacks, and sports bags; marine equipment and fishing rods, reels, baits, and equipment; firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, optics, airguns, and hunting equipment; team sports equipment, including baseball, football, basketball, soccer, golf, racket sports, and volleyball; fitness equipment and accessories, and nutrition supplies; and patio furniture, outdoor cooking, wheeled goods, trampolines, playsets, watersports, and pet equipment, as well as electronics products, watches, consumables, batteries, etc.