KLP Kapitalforvaltning AS Buys New Position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

KLP Kapitalforvaltning AS purchased a new position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,500 shares of the company’s stock, valued at approximately $836,000.

A number of other large investors have also modified their holdings of the business. Sei Investments Co. increased its position in shares of Academy Sports and Outdoors by 18.7% in the 4th quarter. Sei Investments Co. now owns 250,087 shares of the company’s stock valued at $14,388,000 after acquiring an additional 39,483 shares during the period. American Century Companies Inc. grew its stake in Academy Sports and Outdoors by 77.2% during the 4th quarter. American Century Companies Inc. now owns 1,252,699 shares of the company’s stock valued at $72,068,000 after purchasing an additional 545,778 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of Academy Sports and Outdoors by 38.0% in the fourth quarter. Quantbot Technologies LP now owns 57,771 shares of the company’s stock valued at $3,324,000 after purchasing an additional 15,916 shares during the period. Blueshift Asset Management LLC purchased a new position in shares of Academy Sports and Outdoors in the fourth quarter worth about $529,000. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Academy Sports and Outdoors by 30.0% during the fourth quarter. Teacher Retirement System of Texas now owns 34,787 shares of the company’s stock worth $2,001,000 after purchasing an additional 8,035 shares during the period.

Academy Sports and Outdoors Stock Performance

NASDAQ:ASO opened at $45.61 on Tuesday. 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 stock has a market capitalization of $3.06 billion, a PE ratio of 7.49, a P/E/G ratio of 1.02 and a beta of 1.25. Academy Sports and Outdoors, Inc. has a fifty-two week low of $43.16 and a fifty-two week high of $68.96. The company has a fifty day moving average of $50.51 and a two-hundred day moving average of $52.88.

Academy Sports and Outdoors (NASDAQ:ASO) last released its quarterly earnings results on Thursday, March 20th. The company reported $1.96 earnings per share 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 firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm earned $2.21 EPS. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. As a group, research analysts forecast that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current fiscal year.

Academy Sports and Outdoors Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, March 25th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.14%. This is a boost from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, March 25th. Academy Sports and Outdoors’s payout ratio is presently 9.01%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ASO shares. Telsey Advisory Group reissued an “outperform” rating and set a $60.00 price target on shares of Academy Sports and Outdoors in a research report on Monday, March 17th. Wedbush reduced their target price on shares of 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. TD Cowen upped their price target on shares of Academy Sports and Outdoors from $54.00 to $61.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price objective on Academy Sports and Outdoors from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, UBS Group lowered their target price on Academy Sports and Outdoors from $58.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.13.

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.