Johnson Outdoors Inc. (JOUT) Shares Sold by Bank of New York Mellon Corp
Bank of New York Mellon Corp reduced its holdings in Johnson Outdoors Inc. (NASDAQ:JOUT) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,462 shares of the company’s stock after selling 1,077 shares during the quarter. Bank of New York Mellon Corp owned about 0.43% of Johnson Outdoors worth $2,047,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. ClariVest Asset Management LLC acquired a new stake in shares of Johnson Outdoors in the second quarter valued at about $174,000. Smith Asset Management Group LP acquired a new stake in shares of Johnson Outdoors in the second quarter valued at about $149,000. First Trust Advisors LP acquired a new stake in shares of Johnson Outdoors in the second quarter valued at about $226,000. Algert Global LLC grew its position in shares of Johnson Outdoors by 88.9% in the second quarter. Algert Global LLC now owns 24,832 shares of the company’s stock valued at $1,197,000 after purchasing an additional 11,689 shares during the last quarter. Finally, Essex Investment Management Co. LLC grew its position in shares of Johnson Outdoors by 37.0% in the second quarter. Essex Investment Management Co. LLC now owns 20,413 shares of the company’s stock valued at $984,000 after purchasing an additional 5,511 shares during the last quarter. 59.43% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on JOUT. ValuEngine downgraded Johnson Outdoors from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research downgraded Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Forward View reaffirmed a “buy” rating and issued a $72.00 price target on shares of Johnson Outdoors in a research report on Sunday, September 3rd. BidaskClub raised Johnson Outdoors from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 9th. Finally, Imperial Capital raised their price target on Johnson Outdoors from $49.00 to $63.00 and gave the company an “outperform” rating in a research 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 given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $67.00.
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Shares of Johnson Outdoors Inc. (NASDAQ JOUT) opened at 72.14 on Monday. The firm has a market capitalization of $709.28 million, a P/E ratio of 22.28 and a beta of 0.75. The company’s 50-day moving average price is $67.77 and its 200-day moving average price is $51.44. Johnson Outdoors Inc. has a 52-week low of $31.25 and a 52-week high of $76.18.
Johnson Outdoors (NASDAQ:JOUT) last announced its quarterly earnings results on Friday, August 4th. The company reported $1.65 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.63. Johnson Outdoors had a net margin of 6.85% and a return on equity of 12.90%. The business had revenue of $155.27 million for the quarter, compared to analyst estimates of $149.29 million. On average, equities research analysts expect that Johnson Outdoors Inc. will post $3.49 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be paid a $0.10 dividend. The ex-dividend date is Thursday, October 12th. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. This is a positive change from Johnson Outdoors’s previous quarterly dividend of $0.09. Johnson Outdoors’s dividend payout ratio is 12.38%.
In related news, Director Terry E. London sold 1,127 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $59.81, for a total value of $67,405.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David W. Johnson sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were 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. In the last quarter, insiders sold 5,077 shares of company stock worth $322,834. 28.42% of the stock is owned by company insiders.
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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