Penn Capital Management Company LLC Acquires 24,674 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Penn Capital Management Company LLC grew its holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,851 shares of the company's stock after purchasing an additional 24,674 shares during the period. Penn Capital Management Company LLC owned approximately 0.25% of Academy Sports and Outdoors worth $10,059,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its position in Academy Sports and Outdoors by 14.6% during 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 period. Dynamic Technology Lab Private Ltd purchased a new position in Academy Sports and Outdoors during the fourth quarter valued at approximately $1,969,000. Wells Fargo & Company MN increased its stake in Academy Sports and Outdoors by 11.4% in the 4th quarter. Wells Fargo & Company MN now owns 216,686 shares of the company's stock valued at $12,466,000 after buying an additional 22,146 shares during the period. Pacifica Capital Investments LLC lifted its position in Academy Sports and Outdoors by 7.9% in the 4th quarter. Pacifica Capital Investments LLC now owns 400,505 shares of the company's stock worth $23,041,000 after buying an additional 29,410 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of 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 buying an additional 27,824 shares during the period.

Academy Sports and Outdoors Stock Performance

ASO stock traded up $0.16 on Friday, reaching $38.21. 1,019,104 shares of the company were exchanged, compared to its average volume of 1,625,507. The firm has a market capitalization of $2.54 billion, a PE ratio of 6.27, a PEG ratio of 1.02 and a beta of 1.26. Academy Sports and Outdoors, Inc. has a 12 month low of $33.34 and a 12 month high of $64.62. The stock's fifty day moving average price is $44.13 and its 200 day moving average price is $50.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.57 and a quick ratio of 0.32.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.14. Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the firm posted $2.21 EPS. The business's revenue was down 6.6% compared to the same quarter last year. On average, research 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, March 25th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Tuesday, March 25th. This is a positive change from Academy Sports and Outdoors's previous quarterly dividend of $0.11. Academy Sports and Outdoors's dividend payout ratio (DPR) is presently 9.01%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ASO shares. Wedbush 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. Jefferies Financial Group set a $60.00 price objective on Academy Sports and Outdoors in a report on Thursday, March 20th. B. Riley reduced their target price on shares of Academy Sports and Outdoors from $70.00 to $65.00 and set a "buy" rating for the company in a research note 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 research report on Monday, March 17th. Finally, Oppenheimer cut their price target on shares of Academy Sports and Outdoors from $85.00 to $70.00 and set an "outperform" rating on the stock in a report 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. According to data from MarketBeat, Academy Sports and Outdoors presently has an average rating of "Moderate Buy" and an average price target of $58.63.

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.