ExodusPoint Capital Management LP Has $2.80 Million Stock Position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Aug 29, 2023

ExodusPoint Capital Management LP raised its holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Get Rating) by 272.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,340 shares of the company's stock after buying an additional 39,022 shares during the quarter. ExodusPoint Capital Management LP owned 0.07% of Academy Sports and Outdoors worth $2,802,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ASO. Raymond James Financial Services Advisors Inc. lifted its position in shares of Academy Sports and Outdoors by 4.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 48,019 shares of the company's stock worth $1,892,000 after acquiring an additional 1,951 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Academy Sports and Outdoors by 117.2% in the 1st quarter. Bank of New York Mellon Corp now owns 850,956 shares of the company's stock worth $33,529,000 after acquiring an additional 459,085 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Academy Sports and Outdoors by 42.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,798 shares of the company's stock worth $190,000 after acquiring an additional 1,419 shares during the period. Natixis Advisors L.P. bought a new stake in shares of Academy Sports and Outdoors in the 1st quarter worth approximately $447,000. Finally, MetLife Investment Management LLC lifted its position in shares of Academy Sports and Outdoors by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 42,967 shares of the company's stock worth $1,693,000 after acquiring an additional 15,599 shares during the period. Institutional investors and hedge funds own 94.63% of the company's stock.

Several research firms recently commented on ASO. JPMorgan Chase & Co. cut their target price on Academy Sports and Outdoors from $70.00 to $61.00 in a research report on Monday. Robert W. Baird cut their target price on Academy Sports and Outdoors from $75.00 to $70.00 in a research report on Wednesday. Morgan Stanley cut their target price on Academy Sports and Outdoors from $70.00 to $55.00 in a research report on Wednesday. Evercore ISI cut their target price on Academy Sports and Outdoors from $80.00 to $70.00 in a research report on Wednesday. Finally, Jefferies Financial Group assumed coverage on Academy Sports and Outdoors in a research report on Tuesday, March 14th. They issued a "buy" rating and a $73.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Academy Sports and Outdoors has an average rating of "Moderate Buy" and an average price target of $71.00.

ASO opened at $51.38 on Thursday. Academy Sports and Outdoors, Inc. has a 52-week low of $32.86 and a 52-week high of $69.02. The firm has a market capitalization of $3.96 billion, a PE ratio of 6.85, a PEG ratio of 0.53 and a beta of 1.16. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.39 and a current ratio of 1.62. The business's 50-day simple moving average is $71.96 and its 200 day simple moving average is $77.07.

Academy Sports and Outdoors (NASDAQ:ASO - Get Rating) last released its earnings results on Tuesday, June 6th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). Academy Sports and Outdoors had a return on equity of 41.09% and a net margin of 9.82%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the company posted $1.73 EPS. The business's revenue was down 5.7% on a year-over-year basis. As a group, sell-side analysts expect that Academy Sports and Outdoors, Inc. will post 7.28 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 13th. Shareholders of record on Thursday, June 15th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Wednesday, June 14th. Academy Sports and Outdoors's dividend payout ratio (DPR) is presently 4.80%.

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.

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