Nordea Investment Management AB Buys New Stake in Johnson Outdoors Inc. (JOUT)
Nordea Investment Management AB bought a new stake in Johnson Outdoors Inc. (NASDAQ:JOUT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,600 shares of the company’s stock, valued at approximately $174,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in JOUT. Vanguard Group Inc. increased its position in shares of Johnson Outdoors by 10.3% during the second quarter. Vanguard Group Inc. now owns 217,062 shares of the company’s stock worth $10,464,000 after acquiring an additional 20,232 shares during the period. Northern Trust Corp increased its position in shares of Johnson Outdoors by 5.9% during the second quarter. Northern Trust Corp now owns 77,877 shares of the company’s stock worth $3,754,000 after acquiring an additional 4,339 shares during the period. New York State Common Retirement Fund increased its position in shares of Johnson Outdoors by 30.4% during the second quarter. New York State Common Retirement Fund now owns 6,000 shares of the company’s stock worth $289,000 after acquiring an additional 1,399 shares during the period. Nationwide Fund Advisors increased its position in shares of Johnson Outdoors by 14.8% during the second quarter. Nationwide Fund Advisors now owns 24,806 shares of the company’s stock worth $1,196,000 after acquiring an additional 3,192 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in shares of Johnson Outdoors by 1.5% during the second quarter. TIAA CREF Investment Management LLC now owns 13,269 shares of the company’s stock worth $640,000 after acquiring an additional 195 shares during the period. 59.48% of the stock is currently owned by institutional investors.
A number of research firms have recently weighed in on JOUT. BidaskClub raised Johnson Outdoors from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 9th. ValuEngine lowered Johnson Outdoors from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research lowered Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Imperial Capital upped their price objective on Johnson Outdoors from $49.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. They noted that the move was a valuation call. Finally, Forward View raised 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 given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $67.00.
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In related news, Director Thomas F. Pyle, Jr. sold 1,000 shares of Johnson Outdoors stock in a transaction on Monday, September 11th. The shares were sold at an average price of $63.16, for a total transaction of $63,160.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Terry E. London sold 1,127 shares of Johnson Outdoors stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $59.81, for a total transaction of $67,405.87. The disclosure for this sale can be found here. Insiders have sold a total of 5,077 shares of company stock worth $322,834 in the last ninety days. 28.03% of the stock is currently owned by insiders.
Shares of Johnson Outdoors Inc. (NASDAQ:JOUT) opened at 71.96 on Friday. Johnson Outdoors Inc. has a 52-week low of $31.25 and a 52-week high of $76.18. The stock has a market cap of $707.51 million, a price-to-earnings ratio of 22.22 and a beta of 0.76. The stock’s 50 day moving average price is $67.34 and its 200-day moving average price is $50.96.
Johnson Outdoors (NASDAQ:JOUT) last released its quarterly earnings results on Friday, August 4th. The company reported $1.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $155.27 million for the quarter, compared to the consensus estimate of $149.29 million. On average, analysts predict that Johnson Outdoors Inc. will post $3.49 earnings per share for the current fiscal year.
The company 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 dividend of $0.10 per share. This is an increase from Johnson Outdoors’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, October 12th. This represents a $0.40 annualized dividend and a yield of 0.56%. Johnson Outdoors’s payout ratio is 11.15%.
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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