Invesco Ltd. Reduces Holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Invesco Ltd. cut its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 51.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 392,924 shares of the company’s stock after selling 414,734 shares during the period. Invesco Ltd. owned about 0.57% of Academy Sports and Outdoors worth $22,605,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ASO. Bank of New York Mellon Corp boosted its position in shares of Academy Sports and Outdoors by 14.6% in the 4th quarter. Bank of New York Mellon Corp now owns 712,226 shares of the company’s stock valued at $40,974,000 after purchasing an additional 90,592 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Academy Sports and Outdoors in the fourth quarter valued at approximately $1,969,000. Empowered Funds LLC boosted its holdings in shares of Academy Sports and Outdoors by 20.6% in the fourth quarter. Empowered Funds LLC now owns 163,109 shares of the company’s stock valued at $9,384,000 after acquiring an additional 27,824 shares during the period. Pacifica Capital Investments LLC grew its position in shares of Academy Sports and Outdoors by 7.9% during the fourth quarter. Pacifica Capital Investments LLC now owns 400,505 shares of the company’s stock worth $23,041,000 after acquiring an additional 29,410 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of Academy Sports and Outdoors by 6.2% in the 3rd quarter. HighTower Advisors LLC now owns 5,553 shares of the company’s stock valued at $324,000 after acquiring an additional 323 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Loop Capital lowered their price objective on shares of Academy Sports and Outdoors from $77.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. TD Cowen raised their price target on 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 reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Academy Sports and Outdoors in a research note on Monday, March 17th. Jefferies Financial Group set a $60.00 target price on Academy Sports and Outdoors in a research note on Thursday, March 20th. Finally, Oppenheimer cut their price target on Academy Sports and Outdoors from $85.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.63.

Academy Sports and Outdoors Trading Up 3.3 %

Shares of ASO opened at $37.85 on Friday. The firm’s 50-day moving average is $45.70 and its two-hundred day moving average is $50.67. The firm has a market capitalization of $2.54 billion, a P/E ratio of 6.22, a PEG ratio of 1.02 and a beta of 1.26. Academy Sports and Outdoors, Inc. has a twelve month low of $33.34 and a twelve month high of $64.62. The company has a current ratio of 1.57, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25.

Academy Sports and Outdoors (NASDAQ:ASO) last released its quarterly earnings results on Thursday, March 20th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.14. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.21 earnings per share. On average, research analysts predict that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current fiscal year.

Academy Sports and Outdoors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, March 25th were issued a $0.13 dividend. This is a boost from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, March 25th. This represents a $0.52 annualized dividend and a yield of 1.37%. Academy Sports and Outdoors’s payout ratio is 9.01%.

About Academy Sports and Outdoors

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.