Bwcp LP Acquires 23,848 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

isseyfarran onkworksMarch 5, 2023

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Bwcp LP raised its holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO – Get Rating) by 7.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 335,215 shares of the company’s stock after acquiring an additional 23,848 shares during the period. Academy Sports and Outdoors comprises about 7.4% of Bwcp LP’s investment portfolio, making the stock its 6th largest holding. Bwcp LP owned about 0.42% of Academy Sports and Outdoors worth $14,760,000 at the end of the most recent quarter.

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Several other large investors also recently modified their holdings of ASO. Ronald Blue Trust Inc. acquired a new position in Academy Sports and Outdoors in the 3rd quarter worth $29,000. CWM LLC grew its holdings in shares of Academy Sports and Outdoors by 135.1% during the third quarter. CWM LLC now owns 757 shares of the company’s stock worth $32,000 after buying an additional 435 shares in the last quarter. Captrust Financial Advisors raised its position in Academy Sports and Outdoors by 55.0% in the 1st quarter. Captrust Financial Advisors now owns 1,006 shares of the company’s stock valued at $40,000 after buying an additional 357 shares during the last quarter. Wipfli Financial Advisors LLC bought a new stake in Academy Sports and Outdoors in the 3rd quarter valued at approximately $43,000. Finally, HWG Holdings LP bought a new stake in Academy Sports and Outdoors in the 3rd quarter valued at approximately $65,000. 94.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ASO. The Goldman Sachs Group lifted their price objective on shares of Academy Sports and Outdoors from $65.00 to $72.00 and gave the company a “buy” rating in a report on Friday, February 17th. Cowen began coverage on shares of Academy Sports and Outdoors in a research note on Thursday, February 16th. They set an “outperform” rating and a $72.00 price objective for the company. Wells Fargo & Company raised their price objective on Academy Sports and Outdoors from $56.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, December 8th. Loop Capital upped their target price on Academy Sports and Outdoors from $60.00 to $65.00 in a report on Wednesday, December 14th. Finally, Stephens increased their price target on Academy Sports and Outdoors from $76.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, December 8th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.08.

Academy Sports and Outdoors Stock Performance

Shares of ASO traded up $0.54 during trading hours on Tuesday, hitting $59.85. The company had a trading volume of 141,862 shares, compared to its average volume of 1,175,123. The business has a fifty day moving average of $56.02 and a 200-day moving average of $50.01. The company has a quick ratio of 0.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.44. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 8.35, a PEG ratio of 0.77 and a beta of 1.14. Academy Sports and Outdoors, Inc. has a 12 month low of $25.10 and a 12 month high of $63.89.

Academy Sports and Outdoors (NASDAQ:ASO – Get Rating) last released its quarterly earnings results on Wednesday, December 7th. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.03. Academy Sports and Outdoors had a net margin of 9.48% and a return on equity of 41.27%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Equities analysts anticipate that Academy Sports and Outdoors, Inc. will post 7.39 EPS for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Tuesday, December 20th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, December 19th. Academy Sports and Outdoors’s dividend payout ratio is 4.23%.

Insiders Place Their Bets

In other Academy Sports and Outdoors news, SVP Sherry L. Harriman sold 11,686 shares of Academy Sports and Outdoors stock in a transaction dated Thursday, December 8th. The shares were sold at an average price of $55.26, for a total value of $645,768.36. Following the completion of the sale, the senior vice president now owns 1,990 shares in the company, valued at approximately $109,967.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Sherry L. Harriman sold 11,686 shares of the stock in a transaction that occurred on Thursday, December 8th. The stock was sold at an average price of $55.26, for a total transaction of $645,768.36. Following the sale, the senior vice president now owns 1,990 shares of the company’s stock, valued at $109,967.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael P. Mullican sold 81,008 shares of Academy Sports and Outdoors stock in a transaction on Thursday, December 8th. The shares were sold at an average price of $55.45, for a total value of $4,491,893.60. Following the completion of the transaction, the chief financial officer now directly owns 105,582 shares of the company’s stock, valued at $5,854,521.90. The disclosure for this sale can be found here. Insiders have sold 241,004 shares of company stock worth $13,579,581 in the last 90 days. Company insiders own 3.51% of the company’s stock.

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.