Invesco Ltd. Sells 414,734 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

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

Other hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its position in shares of Academy Sports and Outdoors by 6.2% during the third quarter. HighTower Advisors LLC now owns 5,553 shares of the company's stock worth $324,000 after purchasing an additional 323 shares in the last quarter. Virtu Financial LLC bought a new position in Academy Sports and Outdoors during the third quarter worth about $306,000. Wilmington Savings Fund Society FSB grew its stake in Academy Sports and Outdoors by 94.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 8,300 shares of the company's stock valued at $484,000 after acquiring an additional 4,038 shares during the period. Franklin Resources Inc. increased its holdings in shares of Academy Sports and Outdoors by 0.6% in the third quarter. Franklin Resources Inc. now owns 95,822 shares of the company's stock worth $5,139,000 after acquiring an additional 576 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Academy Sports and Outdoors by 2.8% during the third quarter. JPMorgan Chase & Co. now owns 326,132 shares of the company's stock worth $19,033,000 after purchasing an additional 8,848 shares during the period.

Academy Sports and Outdoors Stock Performance

Shares of Academy Sports and Outdoors stock traded up $0.79 on Wednesday, hitting $37.67. The stock had a trading volume of 1,550,890 shares, compared to its average volume of 1,790,106. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 6.19, a price-to-earnings-growth ratio of 1.02 and a beta of 1.26. The business's 50 day moving average is $45.05 and its two-hundred day moving average is $50.36. The company has a quick ratio of 0.32, a current ratio of 1.57 and a debt-to-equity ratio of 0.25. Academy Sports and Outdoors, Inc. has a twelve month low of $33.34 and a twelve month high of $64.61.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.82 by $0.14. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. The firm's quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 earnings per share. Analysts forecast that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current year.

Academy Sports and Outdoors Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, March 25th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.38%. This is an increase from Academy Sports and Outdoors's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, March 25th. Academy Sports and Outdoors's dividend payout ratio is presently 9.01%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Evercore ISI decreased their price objective on Academy Sports and Outdoors from $54.00 to $53.00 and set an "in-line" rating for the company in a research report on Tuesday, April 1st. Wedbush cut their price objective on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. B. Riley dropped their price target on Academy Sports and Outdoors from $70.00 to $65.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. UBS Group reduced their price objective on Academy Sports and Outdoors from $58.00 to $55.00 and set a "neutral" rating for the company in a research report on Tuesday, March 18th. Finally, Oppenheimer cut their target price on Academy Sports and Outdoors from $85.00 to $70.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Academy Sports and Outdoors has an average rating of "Moderate Buy" and a consensus price target of $58.63.

Academy Sports and Outdoors Company 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.