My Axis is a .223 heavy barrel. It took about 200 rounds before it was an MOA rifle. And it still does not like light bullets. Most std factory ammo in mine shoots 1 1/2" to 2" groups.

To get less than MOA I use match grade bullets and good handloads. Mine is around 1/2 MOA now with careful hand loading and Sierra Matchking bullets (if I was a better shot it could probably do better :) ). Norma and Hornady have some pretty good match bullets as well.

Before scrapping it I'd get some Federal Gold Medal match ammo and try it. If it does not get you below MOA then something might be wrong with your rifle.

Forgot to ask, does yours have a standard contour or heavy varmint barrel? That can make a difference as the barrel heats up. If it is a thin barrel then wait for it to cool between shots.

As mentioned, the factory plastic stocks do not like to have a lot of pressure on the fore end. Just rest it on the bags when you shoot. I put a Boyd's stock on mine so I could use a bipod.