Ziegler Capital Management LLC Sells 6,727 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Defense World · Apr 5, 2023 18:52

Ziegler Capital Management LLC reduced its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO – Get Rating) by 28.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,329 shares of the company's stock after selling 6,727 shares during the quarter. Ziegler Capital Management LLC's holdings in Academy Sports and Outdoors were worth $910,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ASO. Raymond James Financial Services Advisors Inc. lifted its holdings in Academy Sports and Outdoors by 4.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 48,019 shares of the company's stock valued at $1,892,000 after buying an additional 1,951 shares during the period. Bank of New York Mellon Corp lifted its holdings in Academy Sports and Outdoors by 117.2% in the first quarter. Bank of New York Mellon Corp now owns 850,956 shares of the company's stock valued at $33,529,000 after buying an additional 459,085 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Academy Sports and Outdoors by 42.0% in the first quarter. PNC Financial Services Group Inc. now owns 4,798 shares of the company's stock valued at $190,000 after buying an additional 1,419 shares during the period. Natixis Advisors L.P. acquired a new position in Academy Sports and Outdoors in the first quarter valued at approximately $447,000. Finally, MetLife Investment Management LLC lifted its holdings in Academy Sports and Outdoors by 57.0% in the first quarter. MetLife Investment Management LLC now owns 42,967 shares of the company's stock valued at $1,693,000 after buying an additional 15,599 shares during the period. 94.63% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

ASO has been the topic of several analyst reports. Cowen initiated coverage on shares of Academy Sports and Outdoors in a report on Thursday, February 16th. They issued an "outperform" rating and a $72.00 price objective on the stock. The Goldman Sachs Group increased their target price on shares of Academy Sports and Outdoors from $65.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, February 17th. Oppenheimer increased their target price on shares of Academy Sports and Outdoors from $75.00 to $85.00 and gave the stock an "outperform" rating in a report on Friday, March 17th. Robert W. Baird started coverage on shares of Academy Sports and Outdoors in a report on Tuesday, March 21st. They issued an "outperform" rating and a $80.00 target price on the stock. Finally, Cowen started coverage on shares of Academy Sports and Outdoors in a report on Thursday, February 16th. They issued an "outperform" rating and a $72.00 target price on the stock. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $72.27.

Insider Activity at Academy Sports and Outdoors

In related news, SVP Manish Maini sold 102,328 shares of the firm's stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $58.04, for a total value of $5,939,117.12. Following the completion of the transaction, the senior vice president now owns 103,929 shares of the company's stock, valued at $6,032,039.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 148,059 shares of company stock valued at $8,428,292. Corporate insiders own 3.51% of the company's stock.

Academy Sports and Outdoors Trading Down 5.8 %

Shares of NASDAQ:ASO opened at $62.58 on Wednesday. Academy Sports and Outdoors, Inc. has a 12 month low of $25.10 and a 12 month high of $67.70. The company has a quick ratio of 0.39, a current ratio of 1.62 and a debt-to-equity ratio of 0.36. The company's fifty day simple moving average is $60.71 and its 200 day simple moving average is $52.92. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 0.91 and a beta of 1.14.

Academy Sports and Outdoors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 13th. Investors of record on Thursday, March 23rd will be given a $0.09 dividend. The ex-dividend date is Wednesday, March 22nd. This represents a $0.36 dividend on an annualized basis and a yield of 0.58%. This is an increase from Academy Sports and Outdoors's previous quarterly dividend of $0.08. Academy Sports and Outdoors's dividend payout ratio (DPR) is 4.80%.

Academy Sports and Outdoors Profile

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Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational products retailer in the United States. The company sells coolers and drinkware, camping accessories, camping equipment, sunglasses, backpacks, and sports bags; marine equipment and fishing rods, reels, baits, and equipment; firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, optics, airguns, and hunting equipment; team sports equipment, including baseball, football, basketball, soccer, golf, racket sports, and volleyball; fitness equipment and accessories, and nutrition supplies; and patio furniture, outdoor cooking, wheeled goods, trampolines, playsets, watersports, and pet equipment, as well as electronics products, watches, consumables, batteries, etc.