Wells Fargo & Company MN lowered its position in shares of Johnson Outdoors Inc. (NASDAQ:JOUT) by 20.1% in the third quarter, Holdings Channel reports. The fund owned 34,908 shares of the company’s stock after selling 8,791 shares during the period. Wells Fargo & Company MN’s holdings in Johnson Outdoors were worth $2,559,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Citadel Advisors LLC bought a new stake in shares of Johnson Outdoors during the third quarter worth $317,000. Nordea Investment Management AB raised its position in shares of Johnson Outdoors by 55.6% during the third quarter. Nordea Investment Management AB now owns 5,600 shares of the company’s stock worth $410,000 after acquiring an additional 2,000 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of Johnson Outdoors by 141.0% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 18,800 shares of the company’s stock worth $1,378,000 after acquiring an additional 11,000 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Johnson Outdoors during the third quarter worth $206,000. Finally, Macquarie Group Ltd. bought a new stake in shares of Johnson Outdoors during the third quarter worth $874,000. Institutional investors own 61.31% of the company’s stock.

A number of research firms have recently weighed in 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. BidaskClub downgraded Johnson Outdoors from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Imperial Capital restated an “outperform” rating and set a $70.00 target price (up previously from $63.00) on shares of Johnson Outdoors in a research report on Friday, December 15th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Johnson Outdoors presently has an average rating of “Buy” and a consensus target price of $71.67.

Shares of Johnson Outdoors Inc. (NASDAQ:JOUT) opened at $62.40 on Friday. The firm has a market capitalization of $623.88, a price-to-earnings ratio of 20.33 and a beta of 0.67. Johnson Outdoors Inc. has a 52-week low of $31.25 and a 52-week high of $76.18.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Thursday, January 11th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.64%. Johnson Outdoors’s dividend payout ratio is presently 11.43%.

In related news, VP David W. Johnson sold 1,000 shares of the company’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $62.31, for a total value of $62,310.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Case Sheahan sold 4,434 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $61.65, for a total value of $273,356.10. The disclosure for this sale can be found here. Corporate insiders own 28.03% of the company’s stock.

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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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