Norges Bank Buys New Position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Norges Bank acquired a new stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 824,552 shares of the company's stock, valued at approximately $47,436,000. Norges Bank owned approximately 1.19% of Academy Sports and Outdoors as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in ASO. Pacer Advisors Inc. boosted its stake in shares of Academy Sports and Outdoors by 8.1% in the 4th quarter. Pacer Advisors Inc. now owns 2,649,276 shares of the company's stock valued at $152,413,000 after purchasing an additional 197,384 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Academy Sports and Outdoors by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,023,192 shares of the company's stock valued at $118,092,000 after purchasing an additional 50,715 shares during the last quarter. American Century Companies Inc. boosted its position in Academy Sports and Outdoors by 77.2% in the fourth quarter. American Century Companies Inc. now owns 1,252,699 shares of the company's stock valued at $72,068,000 after buying an additional 545,778 shares in the last quarter. Royce & Associates LP grew its stake in Academy Sports and Outdoors by 23.5% during the fourth quarter. Royce & Associates LP now owns 1,174,576 shares of the company's stock worth $67,573,000 after buying an additional 223,320 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its holdings in shares of Academy Sports and Outdoors by 331.4% during the fourth quarter. Stephens Investment Management Group LLC now owns 959,680 shares of the company's stock worth $55,210,000 after buying an additional 737,212 shares in the last quarter.

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Academy Sports and Outdoors Trading Up 17.0 %

NASDAQ:ASO traded up $5.81 during trading hours on Wednesday, hitting $39.91. The stock had a trading volume of 3,596,133 shares, compared to its average volume of 1,610,156. The business's 50 day moving average is $47.74 and its 200-day moving average is $51.66. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.32 and a current ratio of 1.57. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 6.55, a P/E/G ratio of 1.02 and a beta of 1.26. Academy Sports and Outdoors, Inc. has a one year low of $33.39 and a one year high of $64.62.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.82 by $0.14. The business had revenue of $1.68 billion during the quarter, compared to analysts' expectations 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 quarter in the prior year, the company earned $2.21 EPS. Sell-side analysts anticipate that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current fiscal year.

Academy Sports and Outdoors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, March 25th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.30%. This is a boost from Academy Sports and Outdoors's previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, March 25th. Academy Sports and Outdoors's dividend payout ratio is presently 9.01%.

Analyst Ratings Changes

ASO has been the topic of a number of research analyst reports. Oppenheimer decreased their price target on Academy Sports and Outdoors from $85.00 to $70.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Citigroup lowered their target price on Academy Sports and Outdoors from $65.00 to $60.00 and set a "buy" rating for the company in a research note on Monday, March 17th. Loop Capital reduced their price target on shares of Academy Sports and Outdoors from $77.00 to $60.00 and set a "buy" rating on the stock in a research report on Tuesday. Jefferies Financial Group set a $60.00 price objective on shares of Academy Sports and Outdoors in a research report on Thursday, March 20th. Finally, UBS Group dropped their target price on shares of Academy Sports and Outdoors from $58.00 to $55.00 and set a "neutral" rating for the company in a research note on Tuesday, March 18th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $58.63.

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.