JPMorgan Chase & Co. Acquires 8,848 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

JPMorgan Chase & Co. grew its holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 326,132 shares of the company's stock after purchasing an additional 8,848 shares during the period. JPMorgan Chase & Co. owned about 0.47% of Academy Sports and Outdoors worth $19,033,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ASO. Harbor Capital Advisors Inc. acquired a new position in Academy Sports and Outdoors during the third quarter valued at approximately $28,000. V Square Quantitative Management LLC bought a new stake in shares of Academy Sports and Outdoors during the 3rd quarter worth $40,000. TD Private Client Wealth LLC acquired a new position in Academy Sports and Outdoors in the 3rd quarter valued at $40,000. Farther Finance Advisors LLC raised its holdings in Academy Sports and Outdoors by 98.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 738 shares of the company's stock worth $43,000 after acquiring an additional 366 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in Academy Sports and Outdoors during the 3rd quarter worth $58,000.

Academy Sports and Outdoors Trading Down 2.0 %

Shares of ASO traded down $1.16 during trading hours on Friday, reaching $57.70. The stock had a trading volume of 1,575,344 shares, compared to its average volume of 1,601,875. The company has a market cap of $4.00 billion, a P/E ratio of 9.47, a P/E/G ratio of 1.06 and a beta of 1.25. Academy Sports and Outdoors, Inc. has a 52 week low of $44.73 and a 52 week high of $75.73. The company has a quick ratio of 0.41, a current ratio of 1.57 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average of $52.92 and a 200 day moving average of $53.85.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last released its quarterly earnings results on Tuesday, December 10th. The company reported $0.98 EPS for the quarter, missing analysts' consensus estimates of $1.28 by ($0.30). Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the business earned $1.38 EPS. The company's revenue for the quarter was down 3.9% compared to the same quarter last year. On average, sell-side analysts expect that Academy Sports and Outdoors, Inc. will post 5.92 earnings per share for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, December 18th will be issued a dividend of $0.11 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.76%. Academy Sports and Outdoors's payout ratio is 7.22%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. TD Cowen increased their target price on Academy Sports and Outdoors from $54.00 to $61.00 and gave the company a "hold" rating in a research note on Wednesday. Telsey Advisory Group reduced their price objective on Academy Sports and Outdoors from $65.00 to $60.00 and set an "outperform" rating for the company in a research report on Thursday, December 5th. Truist Financial boosted their target price on shares of Academy Sports and Outdoors from $50.00 to $51.00 and gave the stock a "hold" rating in a research report on Wednesday, December 11th. Robert W. Baird reduced their price target on shares of Academy Sports and Outdoors from $68.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, December 11th. Finally, Evercore ISI lowered shares of Academy Sports and Outdoors from an "outperform" rating to an "in-line" rating and cut their price objective for the company from $65.00 to $60.00 in a research report on Thursday, October 3rd. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $61.67.

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.