Wells Fargo & Company MN raised its position in Johnson Outdoors Inc. (NASDAQ:JOUT) by 55.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,761 shares of the company’s stock after purchasing an additional 41,257 shares during the period. Wells Fargo & Company MN owned about 1.15% of Johnson Outdoors worth $8,632,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. THB Asset Management lifted its holdings in shares of Johnson Outdoors by 48.4% during the 1st quarter. THB Asset Management now owns 221,935 shares of the company’s stock worth $15,837,000 after acquiring an additional 72,423 shares during the period. James Investment Research Inc. lifted its holdings in shares of Johnson Outdoors by 20.7% during the 2nd quarter. James Investment Research Inc. now owns 7,465 shares of the company’s stock worth $557,000 after acquiring an additional 1,280 shares during the period. Mesirow Financial Investment Management Inc. lifted its holdings in shares of Johnson Outdoors by 12.0% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 6,797 shares of the company’s stock worth $511,000 after acquiring an additional 729 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Johnson Outdoors by 23.9% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,970 shares of the company’s stock worth $371,000 after acquiring an additional 960 shares during the period. Finally, Aurora Investment Counsel purchased a new position in shares of Johnson Outdoors during the 2nd quarter worth about $1,252,000. Institutional investors and hedge funds own 63.47% of the company’s stock.
JOUT has been the topic of several recent analyst reports. Sidoti lowered shares of Johnson Outdoors from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $102.00 to $80.00 in a report on Monday, July 15th. Zacks Investment Research lowered shares of Johnson Outdoors from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Imperial Capital cut their price objective on shares of Johnson Outdoors from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. They noted that the move was a valuation call. BidaskClub upgraded shares of Johnson Outdoors from a “strong sell” rating to a “sell” rating in a report on Friday. Finally, ValuEngine downgraded shares of Johnson Outdoors from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $79.00.
In related news, CFO David W. Johnson sold 1,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $60.39, for a total transaction of $60,390.00. Following the completion of the sale, the chief financial officer now owns 13,958 shares of the company’s stock, valued at approximately $842,923.62. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.60% of the stock is currently owned by corporate insiders.
JOUT traded down $0.69 on Friday, reaching $61.01. 637 shares of the company’s stock were exchanged, compared to its average volume of 54,353. The company’s 50 day moving average is $59.93 and its 200-day moving average is $70.62. The company has a market cap of $623.45 million, a price-to-earnings ratio of 12.99 and a beta of 0.94. Johnson Outdoors Inc. has a twelve month low of $54.12 and a twelve month high of $104.88.
Johnson Outdoors (NASDAQ:JOUT) last posted its earnings results on Friday, August 2nd. The company reported $2.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.32 by ($0.13). The business had revenue of $176.25 million for the quarter, compared to analyst estimates of $176.30 million. Johnson Outdoors had a return on equity of 14.40% and a net margin of 7.74%. As a group, equities research analysts forecast that Johnson Outdoors Inc. will post 4.53 earnings per share for the current fiscal year.
Johnson Outdoors Profile
Johnson Outdoors Inc designs, manufactures, and markets camping, diving, watercraft, and marine electronics products worldwide. The company's Fishing segment offers electric 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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