On its own it wouldn't be a negative unless the subject of guns becomes a recurring theme in your essays that they think you're a gun nut.
Having said that, what makes the activity you're describing less compelling is the fact that it's a solitary activity. In group-oriented activities, you have more opportunities to talk about your interpersonal/leadership/team skills, which is a lot more relevant to business than say, being a good shot.
Admitting things like being a member of the KKK, militia groups, having a porno business on the side, gambling, etc. isn't probably something you want to talk about. But shooting for sport isn't really a huge deal, but there's not a whole lot you can say about it that is relevant to business or to a b-school environment.
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