California Public Employees Retirement System lowered its stake in shares of Johnson Outdoors Inc. (NASDAQ:JOUT) by 17.4% during the first quarter, Holdings Channel reports. The firm owned 30,300 shares of the company’s stock after selling 6,400 shares during the period. California Public Employees Retirement System’s holdings in Johnson Outdoors were worth $1,106,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. American International Group Inc. raised its stake in Johnson Outdoors by 7.2% in the first quarter. American International Group Inc. now owns 3,020 shares of the company’s stock valued at $110,000 after buying an additional 202 shares in the last quarter. Acrospire Investment Management LLC acquired a new stake in Johnson Outdoors during the first quarter valued at about $122,000. Bank of Montreal Can raised its stake in Johnson Outdoors by 36.3% in the first quarter. Bank of Montreal Can now owns 4,758 shares of the company’s stock valued at $174,000 after buying an additional 1,268 shares in the last quarter. Oxford Asset Management acquired a new stake in Johnson Outdoors during the first quarter valued at about $281,000. Finally, Highbridge Capital Management LLC acquired a new stake in Johnson Outdoors during the fourth quarter valued at about $362,000. 60.26% of the stock is owned by hedge funds and other institutional investors.

Shares of Johnson Outdoors Inc. (NASDAQ JOUT) traded down 0.30% during trading on Friday, hitting $59.57. The stock had a trading volume of 6,906 shares. Johnson Outdoors Inc. has a 52 week low of $28.26 and a 52 week high of $60.60. The company’s 50 day moving average price is $50.05 and its 200 day moving average price is $41.04. The company has a market capitalization of $585.69 million, a price-to-earnings ratio of 18.40 and a beta of 0.77.

Johnson Outdoors (NASDAQ:JOUT) last posted its quarterly earnings results on Friday, August 4th. The company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.63. The company had revenue of $155.27 million for the quarter, compared to analysts’ expectations of $149.29 million. Johnson Outdoors had a net margin of 10.66% and a return on equity of 28.79%. Analysts predict that Johnson Outdoors Inc. will post $2.87 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 27th. Investors of record on Thursday, July 13th were issued a $0.09 dividend. The ex-dividend date was Tuesday, July 11th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.60%. Johnson Outdoors’s dividend payout ratio (DPR) is presently 11.15%.

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JOUT has been the topic of several research analyst reports. ValuEngine upgraded Johnson Outdoors from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub upgraded Johnson Outdoors from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research lowered Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Forward View upgraded Johnson Outdoors from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Finally, Imperial Capital upped their price objective on Johnson Outdoors from $44.00 to $49.00 and gave the company an “outperform” rating in a research note on Tuesday, May 9th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $53.00.

In related news, Director Terry E. London sold 1,127 shares of Johnson Outdoors stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $59.81, for a total value of $67,405.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 28.03% of the company’s stock.

About Johnson Outdoors

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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Institutional Ownership by Quarter for Johnson Outdoors (NASDAQ:JOUT)

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