Wedge Capital Management L L P NC lowered its position in Johnson Outdoors Inc. (NASDAQ:JOUT) by 40.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,275 shares of the company’s stock after selling 4,300 shares during the quarter. Wedge Capital Management L L P NC owned about 0.06% of Johnson Outdoors worth $460,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in JOUT. AQR Capital Management LLC acquired a new stake in shares of Johnson Outdoors in the first quarter valued at approximately $1,883,000. FMR LLC increased its stake in shares of Johnson Outdoors by 52.8% in the first quarter. FMR LLC now owns 138,613 shares of the company’s stock valued at $5,059,000 after purchasing an additional 47,913 shares during the period. Vanguard Group Inc. increased its stake in shares of Johnson Outdoors by 14.0% in the first quarter. Vanguard Group Inc. now owns 196,830 shares of the company’s stock valued at $7,184,000 after purchasing an additional 24,147 shares during the period. Bowling Portfolio Management LLC acquired a new stake in shares of Johnson Outdoors in the second quarter valued at approximately $1,152,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Johnson Outdoors in the second quarter valued at approximately $1,007,000. Institutional investors own 59.02% of the company’s stock.
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JOUT has been the topic of several analyst reports. Forward View restated a “buy” rating and issued a $72.00 price target on shares of Johnson Outdoors in a research note on Sunday, September 3rd. BidaskClub cut shares of Johnson Outdoors from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. ValuEngine upgraded shares of Johnson Outdoors from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research cut shares of Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 10th. Finally, Imperial Capital increased their price objective on shares of Johnson Outdoors from $49.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, August 7th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Johnson Outdoors presently has a consensus rating of “Buy” and a consensus price target of $67.00.
In related news, Director Thomas F. Pyle, Jr. sold 1,950 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $64.23, for a total transaction of $125,248.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David W. Johnson sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $67.02, for a total transaction of $67,020.00. The disclosure for this sale can be found here. Insiders sold 3,950 shares of company stock valued at $255,429 over the last quarter. Insiders own 28.03% of the company’s stock.
Johnson Outdoors Inc. (JOUT) opened at $69.99 on Friday. The stock has a market cap of $681.16, a P/E ratio of 24.34 and a beta of 0.69. Johnson Outdoors Inc. has a 1-year low of $31.25 and a 1-year high of $76.18.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, October 13th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This is a boost from Johnson Outdoors’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.57%. Johnson Outdoors’s dividend payout ratio (DPR) is 12.38%.
Johnson Outdoors Profile
Johnson Outdoors Inc is a manufacturer and marketer of branded seasonal, outdoor recreation products. The Company operates through four segments: Marine Electronics, Outdoor Equipment, Watercraft and Diving. Its Marine Electronics segment’s brands are Minn Kota, Humminbird and Cannon. Its Outdoor Equipment segment’s brands are Eureka!, Jetboil and Silva.
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