Federated Hermes Inc. Raises Stock Holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Federated Hermes Inc. boosted its position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 44.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,593 shares of the company's stock after purchasing an additional 16,982 shares during the quarter. Federated Hermes Inc. owned approximately 0.08% of Academy Sports and Outdoors worth $3,198,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Academy Sports and Outdoors by 2.6% during the third quarter. Geode Capital Management LLC now owns 2,023,192 shares of the company's stock valued at $118,092,000 after acquiring an additional 50,715 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in 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 worth $40,974,000 after acquiring an additional 90,592 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Academy Sports and Outdoors during the fourth quarter valued at $1,969,000. Empowered Funds LLC lifted its stake in Academy Sports and Outdoors by 20.6% during the 4th 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. Finally, Pacifica Capital Investments LLC grew its stake in shares of Academy Sports and Outdoors by 7.9% in 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 period.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ASO. B. Riley lowered their price objective on shares of Academy Sports and Outdoors from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Jefferies Financial Group set a $60.00 price target on Academy Sports and Outdoors in a report on Thursday, March 20th. Robert W. Baird cut their price objective on Academy Sports and Outdoors from $65.00 to $60.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Telsey Advisory Group reissued an "outperform" rating and issued a $60.00 target price on shares of Academy Sports and Outdoors in a report on Monday, March 17th. Finally, Oppenheimer reduced their price target on shares of Academy Sports and Outdoors from $85.00 to $70.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Academy Sports and Outdoors has a consensus rating of "Moderate Buy" and a consensus target price of $58.63.

Academy Sports and Outdoors Price Performance

Shares of Academy Sports and Outdoors stock traded up $1.20 during trading hours on Friday, hitting $37.85. The company's stock had a trading volume of 1,580,859 shares, compared to its average volume of 1,618,705. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.32 and a current ratio of 1.57. Academy Sports and Outdoors, Inc. has a 12-month low of $33.34 and a 12-month high of $64.62. The business has a 50 day moving average price of $46.00 and a two-hundred day moving average price of $50.79. The company has a market cap of $2.54 billion, a PE ratio of 6.22, a PEG ratio of 1.02 and a beta of 1.26.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.14. The company had revenue of $1.68 billion for 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 firm's revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.21 EPS. Analysts expect 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 business 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 an increase from Academy Sports and Outdoors's previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Tuesday, March 25th. Academy Sports and Outdoors's payout ratio is currently 9.01%.

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.