Wedbush Securities Inc. Sells 2,200 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Wedbush Securities Inc. reduced its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 23.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,370 shares of the company’s stock after selling 2,200 shares during the period. Wedbush Securities Inc.’s holdings in Academy Sports and Outdoors were worth $424,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ASO. HighTower Advisors LLC increased its holdings in Academy Sports and Outdoors by 6.2% during the 3rd quarter. HighTower Advisors LLC now owns 5,553 shares of the company’s stock worth $324,000 after purchasing an additional 323 shares during the period. XTX Topco Ltd purchased a new position in shares of Academy Sports and Outdoors during the third quarter valued at $1,221,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Academy Sports and Outdoors in the third quarter valued at about $323,000. Vestcor Inc lifted its stake in Academy Sports and Outdoors by 184.3% in the third quarter. Vestcor Inc now owns 16,197 shares of the company’s stock worth $945,000 after acquiring an additional 10,500 shares during the period. Finally, Geode Capital Management LLC grew 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 worth $118,092,000 after acquiring an additional 50,715 shares in the last quarter.

Academy Sports and Outdoors Price Performance

NASDAQ:ASO opened at $34.10 on Wednesday. The firm’s fifty day moving average is $48.28 and its two-hundred day moving average is $51.89. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 1.02 and a beta of 1.26. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.32 and a current ratio of 1.57. Academy Sports and Outdoors, Inc. has a one year low of $33.78 and a one year high of $64.62.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its earnings results on Thursday, March 20th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.82 by $0.14. Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the company earned $2.21 earnings per share. Academy Sports and Outdoors’s revenue for the quarter was down 6.6% compared to the same quarter last year. Research analysts expect that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current year.

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 issued a $0.13 dividend. This is a boost from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, March 25th. This represents a $0.52 dividend on an annualized basis and a yield of 1.52%. Academy Sports and Outdoors’s dividend payout ratio is presently 9.01%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ASO shares. B. Riley cut their price objective on shares of Academy Sports and Outdoors from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Wedbush cut their price target on Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Telsey Advisory Group restated an “outperform” rating and set a $60.00 price objective on shares of Academy Sports and Outdoors in a research note on Monday, March 17th. Citigroup reduced their target price on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set a “buy” rating for the company in a report on Monday, March 17th. Finally, Robert W. Baird lowered their price target on shares of Academy Sports and Outdoors from $65.00 to $60.00 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.com, Academy Sports and Outdoors has a consensus rating of “Moderate Buy” and an average 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.