Acadian Asset Management LLC increased its position in Johnson Outdoors Inc. (NASDAQ:JOUT) by 13.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 193,374 shares of the company’s stock after buying an additional 23,639 shares during the quarter. Acadian Asset Management LLC’s holdings in Johnson Outdoors were worth $17,984,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Sei Investments Co. bought a new position in Johnson Outdoors during the 2nd quarter valued at $522,000. Renaissance Technologies LLC boosted its stake in Johnson Outdoors by 12.4% during the 2nd quarter. Renaissance Technologies LLC now owns 397,300 shares of the company’s stock valued at $33,584,000 after acquiring an additional 43,700 shares during the last quarter. EAM Investors LLC bought a new position in Johnson Outdoors during the 2nd quarter valued at $1,172,000. Wedge Capital Management L L P NC boosted its stake in Johnson Outdoors by 72.7% during the 2nd quarter. Wedge Capital Management L L P NC now owns 8,936 shares of the company’s stock valued at $755,000 after acquiring an additional 3,761 shares during the last quarter. Finally, Tredje AP fonden boosted its stake in Johnson Outdoors by 90.2% during the 2nd quarter. Tredje AP fonden now owns 156,181 shares of the company’s stock valued at $5,265,000 after acquiring an additional 74,065 shares during the last quarter. Institutional investors and hedge funds own 62.87% of the company’s stock.
JOUT has been the topic of a number of research analyst reports. BidaskClub downgraded shares of Johnson Outdoors from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 26th. Sidoti upgraded shares of Johnson Outdoors from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 7th. Imperial Capital increased their price objective on shares of Johnson Outdoors from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, August 8th. ValuEngine downgraded shares of Johnson Outdoors from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, Zacks Investment Research downgraded shares of Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $98.50.
NASDAQ JOUT opened at $75.88 on Friday. Johnson Outdoors Inc. has a 12 month low of $59.13 and a 12 month high of $107.36. The firm has a market cap of $763.81 million, a price-to-earnings ratio of 24.64 and a beta of 0.90.
Johnson Outdoors (NASDAQ:JOUT) last issued its earnings results on Tuesday, August 7th. The company reported $2.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.96 by $0.41. The company had revenue of $170.78 million for the quarter, compared to analysts’ expectations of $160.86 million. Johnson Outdoors had a net margin of 8.48% and a return on equity of 20.47%. On average, equities research analysts predict that Johnson Outdoors Inc. will post 5.15 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 24th. Shareholders of record on Wednesday, October 10th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.74%. This is a boost from Johnson Outdoors’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, October 9th. Johnson Outdoors’s dividend payout ratio is 18.18%.
Johnson Outdoors Profile
Johnson Outdoors Inc designs, manufactures, and markets outdoor equipment, diving, watercraft, and marine electronics products worldwide. The company's Fishing segment offers battery-powered fishing motors for trolling or primary propulsion, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.
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