Maryland State Retirement & Pension System Sells 1,434 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Posted by Defense World Staff on Sep 22nd, 2023

Maryland State Retirement & Pension System decreased its holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO – Free Report) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,035 shares of the company’s stock after selling 1,434 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Academy Sports and Outdoors were worth $1,623,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ASO. AE Wealth Management LLC boosted its holdings in Academy Sports and Outdoors by 45.1% in the second quarter. AE Wealth Management LLC now owns 7,134 shares of the company’s stock valued at $386,000 after acquiring an additional 2,219 shares during the last quarter. Moody National Bank Trust Division boosted its stake in shares of Academy Sports and Outdoors by 1.5% in the 2nd quarter. Moody National Bank Trust Division now owns 19,619 shares of the company’s stock valued at $1,060,000 after purchasing an additional 297 shares during the last quarter. Radnor Capital Management LLC increased its position in shares of Academy Sports and Outdoors by 94.3% during the second quarter. Radnor Capital Management LLC now owns 25,430 shares of the company’s stock worth $1,374,000 after buying an additional 12,340 shares during the period. Atria Wealth Solutions Inc. bought a new position in Academy Sports and Outdoors during the first quarter worth $213,000. Finally, Ameriprise Financial Inc. raised its stake in Academy Sports and Outdoors by 30.4% during the first quarter. Ameriprise Financial Inc. now owns 424,858 shares of the company’s stock worth $27,726,000 after buying an additional 98,947 shares during the last quarter.

Academy Sports and Outdoors Stock Down 2.2 %

Shares of NASDAQ ASO opened at $47.63 on Friday. The stock has a market capitalization of $3.55 billion, a P/E ratio of 7.01, a P/E/G ratio of 0.58 and a beta of 1.20. The company has a 50-day moving average price of $53.99 and a 200-day moving average price of $64.13. Academy Sports and Outdoors, Inc. has a 1 year low of $40.67 and a 1 year high of $69.02. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.68 and a quick ratio of 0.40.

Academy Sports and Outdoors (NASDAQ:ASO – Get Free Report) last issued its quarterly earnings data on Thursday, August 31st. The company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.10. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Academy Sports and Outdoors had a net margin of 8.71% and a return on equity of 32.91%. The business’s revenue was down 6.2% on a year-over-year basis. During the same period last year, the company earned $2.30 earnings per share. On average, equities research analysts forecast that Academy Sports and Outdoors, Inc. will post 6.9 EPS for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 11th. Investors of record on Wednesday, September 13th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.76%. The ex-dividend date is Tuesday, September 12th. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 5.30%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ASO. Loop Capital lowered their target price on shares of Academy Sports and Outdoors from $73.00 to $65.00 in a research note on Wednesday, June 7th. UBS Group lifted their target price on shares of Academy Sports and Outdoors from $65.00 to $74.00 in a research note on Friday, September 1st. Morgan Stanley lifted their target price on shares of Academy Sports and Outdoors from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, September 1st. JPMorgan Chase & Co. lowered their target price on shares of Academy Sports and Outdoors from $70.00 to $61.00 in a research note on Monday, June 5th. Finally, Bank of America lowered their target price on shares of Academy Sports and Outdoors from $85.00 to $75.00 in a research note on Wednesday, June 7th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.24.

Get Our Latest Stock Analysis on ASO

Insider Buying and Selling

In related news, EVP Samuel J. Johnson sold 40,531 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $50.03, for a total transaction of $2,027,765.93. Following the transaction, the executive vice president now directly owns 70,303 shares in the company, valued at $3,517,259.09. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.56% of the stock is owned by corporate insiders.

Academy Sports and Outdoors Profile

(Free Report)

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, camping accessories and equipment, sunglasses, backpacks, and sports bags; 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, optics, airguns, and hunting equipment.