Hancock Whitney Corp lifted its stake in shares of Johnson Outdoors Inc. (NASDAQ:JOUT) by 30.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 19,030 shares of the company’s stock after buying an additional 4,473 shares during the quarter. Hancock Whitney Corp’s holdings in Johnson Outdoors were worth $1,358,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the company. Advisor Group Inc. lifted its stake in Johnson Outdoors by 63.0% during the first quarter. Advisor Group Inc. now owns 352 shares of the company’s stock worth $25,000 after purchasing an additional 136 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Johnson Outdoors by 3,187.1% during the first quarter. BNP Paribas Arbitrage SA now owns 1,019 shares of the company’s stock worth $73,000 after purchasing an additional 988 shares during the last quarter. Citigroup Inc. lifted its stake in Johnson Outdoors by 16.4% during the fourth quarter. Citigroup Inc. now owns 1,558 shares of the company’s stock worth $92,000 after purchasing an additional 220 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in Johnson Outdoors by 337.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 1,790 shares of the company’s stock worth $105,000 after purchasing an additional 1,381 shares during the last quarter. Finally, State of Tennessee Treasury Department lifted its stake in Johnson Outdoors by 22.3% during the first quarter. State of Tennessee Treasury Department now owns 3,270 shares of the company’s stock worth $233,000 after purchasing an additional 596 shares during the last quarter. 62.49% of the stock is owned by institutional investors and hedge funds.
JOUT stock opened at $79.36 on Friday. The firm has a market capitalization of $793.87 million, a price-to-earnings ratio of 17.91 and a beta of 1.04. Johnson Outdoors Inc. has a 1 year low of $54.66 and a 1 year high of $107.36.
Johnson Outdoors (NASDAQ:JOUT) last posted its earnings results on Friday, May 3rd. The company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.32. The company had revenue of $177.71 million for the quarter, compared to analysts’ expectations of $171.80 million. Johnson Outdoors had a return on equity of 15.51% and a net margin of 8.13%. On average, equities research analysts anticipate that Johnson Outdoors Inc. will post 4.76 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Wednesday, July 10th. Johnson Outdoors’s payout ratio is 11.94%.
JOUT has been the topic of several research analyst reports. BidaskClub upgraded Johnson Outdoors from a “strong sell” rating to a “sell” rating in a research note on Monday, April 1st. Zacks Investment Research cut Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 10th. ValuEngine upgraded Johnson Outdoors from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Finally, Imperial Capital raised their price objective on Johnson Outdoors from $75.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $94.00.
In other Johnson Outdoors news, CFO David W. Johnson sold 1,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $82.07, for a total value of $82,070.00. Following the sale, the chief financial officer now directly owns 14,958 shares in the company, valued at $1,227,603.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 18.60% of the company’s stock.
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Johnson Outdoors Company Profile
Johnson Outdoors Inc designs, manufactures, and markets camping, diving, watercraft, and marine electronics products worldwide. The company's Fishing segment offers electric 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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