Boston Partners Increases Stake in Academy Sports by 22.1%

Boston Partners has significantly increased its stake in Academy Sports and Outdoors, Inc. (NASDAQ: ASO) by 22.1% during the second quarter of 2023. This information comes from the firm’s latest filing with the Securities and Exchange Commission (SEC). Following this adjustment, Boston Partners now holds 701,806 shares of Academy Sports, amounting to a market value of approximately $32.04 million.

Other institutional investors have also adjusted their positions in Academy Sports and Outdoors. For instance, Huntington National Bank raised its stake by an impressive 214.6%, bringing its total holdings to 689 shares valued at $31,000 after acquiring an additional 470 shares during the same quarter. Your Advocates Ltd. LLP increased its stake by 101.5% in the first quarter, now owning 816 shares worth $37,000 after adding 411 shares.

In addition, Northwestern Mutual Wealth Management Co. entered the market by purchasing a new stake valued at $64,000 in the first quarter. Nisa Investment Advisors LLC lifted its position by 25.6%, holding 1,438 shares worth $66,000 after buying an additional 293 shares. Finally, US Bancorp DE increased its stake by a remarkable 280.0%, now owning 1,657 shares valued at $76,000.

Current Stock Performance and Financial Metrics

As of Thursday, the shares of Academy Sports opened at $44.91. The company currently boasts a market capitalization of $2.99 billion and exhibits a price-to-earnings (P/E) ratio of 8.41 alongside a price-to-earnings growth (PEG) ratio of 0.88. The stock has experienced a fifty-two week range with a low of $33.34 and a high of $61.25. Notably, the company maintains a quick ratio of 0.33, a current ratio of 1.64, and a debt-to-equity ratio of 0.23. Its recent moving averages reflect a 50-day average price of $49.22 and a 200-day average price of $48.06.

Recently, Academy Sports declared a quarterly dividend, which was paid on October 9, 2023. Shareholders of record on September 11, 2023 received a dividend of $0.13 per share, leading to an annualized dividend of $0.52 and a yield of 1.2%. The company’s dividend payout ratio stands at 9.74%.

Analyst Ratings and Market Outlook

Several analysts have updated their ratings on Academy Sports in recent weeks. Guggenheim reaffirmed a “buy” rating with a price objective of $60.00 in a report published on September 8, 2023. Meanwhile, Monness Crespi & Hardt initiated coverage and set a target price of $65.00 for the stock. UBS Group issued a “neutral” rating with a price target of $52.00, and Barclays provided an “equal weight” rating with a target of $51.00.

Truist Financial has adjusted its target price from $47.00 to $50.00, maintaining a “hold” rating for the company. Currently, nine research analysts have rated Academy Sports with a “buy” rating, while eleven have assigned a “hold” rating. According to data from MarketBeat, the average rating for the stock is “Hold,” with an average target price of $58.37.

Academy Sports and Outdoors operates as a sporting goods and outdoor recreational retailer in the United States, offering a wide range of products, including camping gear, fishing equipment, and hunting supplies. The firm continues to attract attention from institutional investors, reflecting growing confidence in its market position and future potential.