Principal Financial Group Inc. Sells 82,677 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Principal Financial Group Inc. lowered its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 19.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 340,339 shares of the company's stock after selling 82,677 shares during the quarter. Principal Financial Group Inc. owned about 0.48% of Academy Sports and Outdoors worth $19,862,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ASO. Pacer Advisors Inc. acquired a new position in Academy Sports and Outdoors during the second quarter worth about $174,054,000. Dimensional Fund Advisors LP lifted its stake in Academy Sports and Outdoors by 19.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,969,886 shares of the company's stock valued at $158,147,000 after purchasing an additional 481,640 shares during the last quarter. Marshall Wace LLP bought a new stake in Academy Sports and Outdoors during the second quarter worth approximately $10,224,000. The Manufacturers Life Insurance Company grew its position in Academy Sports and Outdoors by 43.4% in the second quarter. The Manufacturers Life Insurance Company now owns 612,175 shares of the company's stock worth $32,598,000 after buying an additional 185,295 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Academy Sports and Outdoors by 739.5% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 167,890 shares of the company's stock valued at $8,940,000 after buying an additional 147,890 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley reissued an "equal weight" rating and issued a $60.00 target price on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. TD Cowen raised their target price on Academy Sports and Outdoors from $54.00 to $56.00 and gave the stock a "hold" rating in a research report on Wednesday, September 11th. Loop Capital reissued a "buy" rating and set a $77.00 price target on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. Telsey Advisory Group restated an "outperform" rating and set a $65.00 price objective on shares of Academy Sports and Outdoors in a research report on Thursday, September 5th. Finally, Jefferies Financial Group lowered their target price on Academy Sports and Outdoors from $68.00 to $64.00 and set a "buy" rating on the stock in a research note on Wednesday, September 11th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $62.50.

Insiders Place Their Bets

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the business's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $62.00, for a total transaction of $74,400.00. Following the completion of the transaction, the director now directly owns 8,906 shares in the company, valued at approximately $552,172. The trade was a 11.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.19% of the company's stock.

Academy Sports and Outdoors Stock Performance

ASO stock traded down $1.49 during trading on Friday, reaching $47.80. 1,074,009 shares of the stock were exchanged, compared to its average volume of 1,423,311. The stock has a 50 day simple moving average of $55.05 and a 200-day simple moving average of $54.42. The company has a current ratio of 1.66, a quick ratio of 0.41 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $3.36 billion, a P/E ratio of 7.59, a price-to-earnings-growth ratio of 0.95 and a beta of 1.37. Academy Sports and Outdoors, Inc. has a twelve month low of $45.47 and a twelve month high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last released its quarterly earnings data on Tuesday, September 10th. The company reported $2.03 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.07. Academy Sports and Outdoors had a net margin of 7.98% and a return on equity of 25.56%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the firm earned $2.01 EPS. The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Academy Sports and Outdoors, Inc. will post 6.02 earnings per share for the current year.

Academy Sports and Outdoors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, September 19th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, September 19th. Academy Sports and Outdoors's dividend payout ratio (DPR) is presently 6.79%.

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.