Empowered Funds LLC Invests $7.90 Million in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Empowered Funds LLC purchased a new position in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 135,285 shares of the company’s stock, valued at approximately $7,895,000. Empowered Funds LLC owned about 0.19% of Academy Sports and Outdoors at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ASO. Harbor Capital Advisors Inc. acquired a new position in shares of Academy Sports and Outdoors during the third quarter worth approximately $28,000. Headlands Technologies LLC acquired a new stake in shares of Academy Sports and Outdoors in the 1st quarter valued at $35,000. V Square Quantitative Management LLC bought a new stake in shares of Academy Sports and Outdoors during the third quarter worth $40,000. Farther Finance Advisors LLC boosted its holdings in Academy Sports and Outdoors by 98.4% in the third quarter. Farther Finance Advisors LLC now owns 738 shares of the company’s stock valued at $43,000 after acquiring an additional 366 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in Academy Sports and Outdoors in the third quarter worth about $58,000.

Academy Sports and Outdoors Stock Performance

Shares of ASO opened at $47.80 on Friday. Academy Sports and Outdoors, Inc. has a 52-week low of $45.47 and a 52-week high of $75.73. The stock’s 50-day simple moving average is $54.93 and its 200 day simple moving average is $54.33. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.66. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 7.38, a price-to-earnings-growth ratio of 0.95 and a beta of 1.37.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings data on Tuesday, September 10th. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.96 by $0.07. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the firm earned $2.01 earnings per share. Academy Sports and Outdoors’s revenue was down 2.2% on a year-over-year basis. Research analysts forecast that Academy Sports and Outdoors, Inc. will post 6.02 EPS for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, September 19th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, September 19th. Academy Sports and Outdoors’s dividend payout ratio (DPR) is currently 6.79%.

Analyst Upgrades and Downgrades

ASO has been the subject of a number of analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $65.00 target price on shares of Academy Sports and Outdoors in a report on Thursday, September 5th. Wells Fargo & Company raised their target price on Academy Sports and Outdoors from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 11th. Evercore ISI cut Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and lowered their price target for the company from $65.00 to $60.00 in a research note on Thursday, October 3rd. Morgan Stanley restated an “equal weight” rating and set a $60.00 price objective on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. Finally, TD Cowen increased their target price on shares of Academy Sports and Outdoors from $54.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, September 11th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.50.

Insider Activity

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total transaction of $74,400.00. Following the sale, the director now owns 8,906 shares in the company, valued at approximately $552,172. The trade was a 11.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.19% of the company’s stock.

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.