Royce & Associates LP Raises Stock Holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Royce & Associates LP grew its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 23.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,174,576 shares of the company’s stock after buying an additional 223,320 shares during the quarter. Academy Sports and Outdoors makes up 0.6% of Royce & Associates LP’s portfolio, making the stock its 23rd biggest holding. Royce & Associates LP owned 1.69% of Academy Sports and Outdoors worth $67,573,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ASO. TD Private Client Wealth LLC purchased a new stake in shares of Academy Sports and Outdoors during the third quarter worth about $40,000. AlphaQuest LLC grew its position in shares of Academy Sports and Outdoors by 240.8% during the fourth quarter. AlphaQuest LLC now owns 702 shares of the company’s stock worth $40,000 after purchasing an additional 496 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Academy Sports and Outdoors by 1,307.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 985 shares of the company’s stock worth $57,000 after purchasing an additional 915 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Academy Sports and Outdoors by 242.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,190 shares of the company’s stock worth $69,000 after purchasing an additional 843 shares in the last quarter. Finally, KBC Group NV grew its position in shares of Academy Sports and Outdoors by 24.3% during the third quarter. KBC Group NV now owns 2,084 shares of the company’s stock worth $122,000 after purchasing an additional 408 shares in the last quarter.

Academy Sports and Outdoors Price Performance

Shares of ASO stock opened at $45.10 on Friday. Academy Sports and Outdoors, Inc. has a 52-week low of $43.16 and a 52-week high of $72.43. 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 firm has a market capitalization of $3.13 billion, a P/E ratio of 7.41, a P/E/G ratio of 1.02 and a beta of 1.25. The stock has a 50 day moving average price of $52.18 and a 200 day moving average price of $53.43.

Academy Sports and Outdoors Increases Dividend

The firm also recently declared 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 is a positive change from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Tuesday, March 25th. Academy Sports and Outdoors’s dividend payout ratio (DPR) is currently 8.54%.

Wall Street Analyst Weigh In

ASO has been the subject of several research analyst reports. Truist Financial increased their target price on 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. Citigroup initiated coverage on Academy Sports and Outdoors in a report on Wednesday, December 18th. They set a “buy” rating and a $65.00 price target for the company. Wedbush restated an “outperform” rating and set a $65.00 price target on shares of Academy Sports and Outdoors in a report on Wednesday, December 11th. Robert W. Baird cut their price target on 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, TD Cowen raised their price target on Academy Sports and Outdoors from $54.00 to $61.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $61.67.

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.