Tensile Capital Management LP Sells 70,000 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Tensile Capital Management LP lessened its position in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 11.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 527,039 shares of the company’s stock after selling 70,000 shares during the quarter. Academy Sports and Outdoors makes up about 3.2% of Tensile Capital Management LP’s investment portfolio, making the stock its 13th largest position. Tensile Capital Management LP’s holdings in Academy Sports and Outdoors were worth $30,321,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC grew its position in Academy Sports and Outdoors by 240.8% in the fourth quarter. AlphaQuest LLC now owns 702 shares of the company’s stock valued at $40,000 after acquiring an additional 496 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Academy Sports and Outdoors by 1,307.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 985 shares of the company’s stock worth $57,000 after acquiring an additional 915 shares during the last quarter. LGT Financial Advisors LLC lifted its position in shares of Academy Sports and Outdoors by 1,041.7% during the fourth quarter. LGT Financial Advisors LLC now owns 1,096 shares of the company’s stock worth $63,000 after purchasing an additional 1,000 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Academy Sports and Outdoors by 242.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,190 shares of the company’s stock valued at $69,000 after purchasing an additional 843 shares during the last quarter. Finally, Sterling Capital Management LLC grew its stake in shares of Academy Sports and Outdoors by 724.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,625 shares of the company’s stock valued at $93,000 after purchasing an additional 1,428 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have commented on ASO. Wedbush decreased their price objective on Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. B. Riley lowered their price objective on Academy Sports and Outdoors from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, March 21st. UBS Group dropped their price objective on Academy Sports and Outdoors from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday, March 18th. Jefferies Financial Group set a $60.00 target price on shares of Academy Sports and Outdoors in a research note on Thursday, March 20th. Finally, Oppenheimer cut their price objective on shares of Academy Sports and Outdoors from $85.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $57.75.

Academy Sports and Outdoors Stock Down 0.6%

NASDAQ:ASO opened at $45.23 on Friday. Academy Sports and Outdoors, Inc. has a 1 year low of $33.34 and a 1 year high of $64.62. The stock has a 50-day moving average price of $41.51 and a two-hundred day moving average price of $48.67. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 7.43, a PEG ratio of 1.02 and a beta of 1.29. The company has a current ratio of 1.57, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25.

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

Academy Sports and Outdoors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Tuesday, March 25th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.15%. This is a positive change from Academy Sports and Outdoors’s previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, March 25th. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 9.01%.

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.