Johnson Outdoors Inc. (JOUT) Position Lifted by ClariVest Asset Management LLC
ClariVest Asset Management LLC increased its stake in Johnson Outdoors Inc. (NASDAQ:JOUT) by 161.5% during the third quarter, HoldingsChannel.com reports. The firm owned 12,968 shares of the company’s stock after acquiring an additional 8,009 shares during the period. ClariVest Asset Management LLC’s holdings in Johnson Outdoors were worth $1,205,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Stratos Wealth Partners LTD. acquired a new stake in Johnson Outdoors in the third quarter valued at about $144,000. AMP Capital Investors Ltd acquired a new stake in Johnson Outdoors in the second quarter valued at about $248,000. Paloma Partners Management Co acquired a new stake in Johnson Outdoors in the second quarter valued at about $251,000. Hartford Investment Management Co. acquired a new stake in Johnson Outdoors in the second quarter valued at about $256,000. Finally, Cypress Capital Management LLC WY boosted its stake in Johnson Outdoors by 20.5% in the third quarter. Cypress Capital Management LLC WY now owns 4,170 shares of the company’s stock valued at $388,000 after buying an additional 710 shares in the last quarter. Institutional investors own 60.81% of the company’s stock.
Several analysts recently weighed in on JOUT shares. BidaskClub lowered Johnson Outdoors from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 26th. Sidoti raised Johnson Outdoors from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 7th. Imperial Capital raised their price objective on Johnson Outdoors from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, August 8th. ValuEngine lowered Johnson Outdoors from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, Zacks Investment Research lowered Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. Johnson Outdoors presently has a consensus rating of “Hold” and an average price target of $98.50.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 24th. Stockholders of record on Wednesday, October 10th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.81%. This is a positive change from Johnson Outdoors’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, October 9th. Johnson Outdoors’s dividend payout ratio (DPR) is presently 18.18%.
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Johnson Outdoors Profile
Johnson Outdoors Inc designs, manufactures, and markets outdoor equipment, diving, watercraft, and marine electronics products worldwide. The company's Fishing segment offers battery-powered fishing 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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