Hodges Capital Management Inc. Grows Position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Hodges Capital Management Inc. increased its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 24.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 252,823 shares of the company's stock after buying an additional 50,375 shares during the quarter. Academy Sports and Outdoors makes up 0.9% of Hodges Capital Management Inc.'s holdings, making the stock its 29th biggest position. Hodges Capital Management Inc. owned about 0.36% of Academy Sports and Outdoors worth $14,755,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. XTX Topco Ltd acquired a new stake in shares of Academy Sports and Outdoors in the third quarter valued at approximately $1,221,000. Weiss Asset Management LP bought a new position in shares of Academy Sports and Outdoors in the third quarter valued at about $1,679,000. Tabor Asset Management LP lifted its stake in shares of Academy Sports and Outdoors by 168.5% during the 3rd quarter. Tabor Asset Management LP now owns 100,838 shares of the company's stock worth $5,885,000 after buying an additional 63,288 shares during the last quarter. Polar Asset Management Partners Inc. bought a new stake in shares of Academy Sports and Outdoors during the 3rd quarter worth about $6,811,000. Finally, Ingalls & Snyder LLC acquired a new position in Academy Sports and Outdoors in the 3rd quarter valued at about $1,456,000.

Academy Sports and Outdoors Price Performance

Shares of ASO traded up $1.10 during mid-day trading on Friday, reaching $50.40. The company had a trading volume of 1,982,716 shares, compared to its average volume of 1,448,086. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.66. The company's 50 day simple moving average is $51.75 and its 200 day simple moving average is $53.48. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 7.78, a P/E/G ratio of 0.95 and a beta of 1.31. Academy Sports and Outdoors, Inc. has a 1-year low of $44.73 and a 1-year high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last announced its quarterly earnings data on Tuesday, September 10th. The company reported $2.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.07. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The business's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.01 EPS. Analysts expect that Academy Sports and Outdoors, Inc. will post 6 EPS for the current year.

Academy Sports and Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, December 18th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Wednesday, December 18th. Academy Sports and Outdoors's dividend payout ratio is currently 6.79%.

Insider Buying and Selling at Academy Sports and Outdoors

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the firm's stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total value 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. This trade represents a 11.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.19% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ASO shares. TD Cowen boosted their price objective on Academy Sports and Outdoors from $54.00 to $56.00 and gave the stock a "hold" rating in a report on Wednesday, September 11th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $60.00 price objective on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. Telsey Advisory Group dropped their target price on Academy Sports and Outdoors from $65.00 to $60.00 and set an "outperform" rating for the company in a report on Thursday. Wedbush reissued an "outperform" rating and issued a $65.00 price objective on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. Finally, Evercore ISI downgraded shares of Academy Sports and Outdoors from an "outperform" rating to an "in-line" rating and dropped their price target for the company from $65.00 to $60.00 in a research report on Thursday, October 3rd. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $61.21.

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.