Renaissance Technologies LLC Has $13.24 Million Holdings in Johnson Outdoors Inc. (JOUT)
Renaissance Technologies LLC reduced its stake in shares of Johnson Outdoors Inc. (NASDAQ:JOUT) by 2.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 274,600 shares of the company’s stock after selling 6,100 shares during the quarter. Renaissance Technologies LLC owned about 2.80% of Johnson Outdoors worth $13,238,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. American International Group Inc. boosted its position in shares of Johnson Outdoors by 7.2% during 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 during the period. Smith Asset Management Group LP purchased a new position in shares of Johnson Outdoors during the second quarter valued at approximately $149,000. ClariVest Asset Management LLC purchased a new position in shares of Johnson Outdoors during the second quarter valued at approximately $174,000. Nordea Investment Management AB purchased a new position in shares of Johnson Outdoors during the second quarter valued at approximately $174,000. Finally, UBS Group AG boosted its position in shares of Johnson Outdoors by 416.1% during the first quarter. UBS Group AG now owns 5,445 shares of the company’s stock valued at $199,000 after buying an additional 4,390 shares during the period. 59.43% of the stock is currently owned by institutional investors.
Johnson Outdoors Inc. (NASDAQ JOUT) opened at 72.23 on Wednesday. The firm’s 50 day moving average price is $67.77 and its 200 day moving average price is $51.44. Johnson Outdoors Inc. has a 12 month low of $31.25 and a 12 month high of $76.18. The stock has a market cap of $710.17 million, a price-to-earnings ratio of 22.31 and a beta of 0.76.
Johnson Outdoors (NASDAQ:JOUT) last announced its quarterly earnings results on Friday, August 4th. The company reported $1.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.63. The business had revenue of $155.27 million during the quarter, compared to the consensus estimate of $149.29 million. Johnson Outdoors had a net margin of 6.85% and a return on equity of 12.90%. On average, equities research analysts predict that Johnson Outdoors Inc. will post $3.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 13th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, October 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.55%. This is an increase from Johnson Outdoors’s previous quarterly dividend of $0.09. Johnson Outdoors’s dividend payout ratio (DPR) is currently 12.38%.
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In other news, CFO David W. Johnson sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $67.02, for a total transaction of $67,020.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas F. Pyle, Jr. sold 1,950 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $64.23, for a total transaction of $125,248.50. The disclosure for this sale can be found here. Insiders have sold a total of 5,077 shares of company stock valued at $322,834 in the last 90 days. Insiders own 28.42% of the company’s stock.
Several research analysts have issued reports on the company. Imperial Capital boosted their target price 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. Zacks Investment Research lowered Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th. ValuEngine upgraded Johnson Outdoors from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub upgraded Johnson Outdoors from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 9th. Finally, Forward View upgraded Johnson Outdoors from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. 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’s stock. Johnson Outdoors presently has an average rating of “Buy” and an average price target of $67.00.
Johnson Outdoors Company 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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