Ritholtz Wealth Management Raises Stock Position in Johnson Outdoors Inc. $JOUT

Ritholtz Wealth Management increased its position in shares of Johnson Outdoors Inc. (NASDAQ:JOUT) by 235.4% in the 1st quarter, HoldingsChannel reports. The fund owned 17,380 shares of the company’s stock after acquiring an additional 12,198 shares during the period. Ritholtz Wealth Management’s holdings in Johnson Outdoors were worth $808,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. CWM LLC raised its stake in Johnson Outdoors by 6.5% in the fourth quarter. CWM LLC now owns 4,743 shares of the company’s stock valued at $201,000 after buying an additional 289 shares during the last quarter. Rhumbline Advisers boosted its holdings in Johnson Outdoors by 3.7% in the second quarter. Rhumbline Advisers now owns 8,066 shares of the company’s stock worth $244,000 after acquiring an additional 289 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Johnson Outdoors by 57.8% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,018 shares of the company’s stock worth $43,000 after acquiring an additional 373 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Johnson Outdoors by 21.1% during the fourth quarter. Deutsche Bank AG now owns 3,091 shares of the company’s stock worth $131,000 after acquiring an additional 538 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Johnson Outdoors by 5.8% during the second quarter. Sei Investments Co. now owns 11,409 shares of the company’s stock valued at $345,000 after acquiring an additional 622 shares in the last quarter. Hedge funds and other institutional investors own 64.05% of the company’s stock.

Johnson Outdoors Stock Performance

Shares of JOUT opened at $45.80 on Tuesday. The stock has a 50-day moving average of $46.79 and a two-hundred day moving average of $46.55. The stock has a market cap of $479.98 million, a P/E ratio of -30.13, a P/E/G ratio of 4.45 and a beta of 0.82. Johnson Outdoors Inc. has a one year low of $29.54 and a one year high of $53.54.

Johnson Outdoors (NASDAQ:JOUT) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.02. Johnson Outdoors had a positive return on equity of 2.52% and a negative net margin of 2.33%.The firm had revenue of $194.48 million during the quarter, compared to analysts’ expectations of $185.09 million. Analysts predict that Johnson Outdoors Inc. will post 0.75 EPS for the current fiscal year.

Johnson Outdoors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Thursday, July 16th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.9%. The ex-dividend date is Thursday, July 16th. Johnson Outdoors’s dividend payout ratio is -86.84%.

Analyst Upgrades and Downgrades

JOUT has been the subject of several research analyst reports. Zacks Research lowered shares of Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Wall Street Zen lowered shares of Johnson Outdoors from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Johnson Outdoors in a research note on Friday, May 8th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Johnson Outdoors presently has a consensus rating of “Reduce”.

About Johnson Outdoors

Johnson Outdoors Inc is a diversified outdoor recreation company that develops, manufactures and markets a broad range of gear and equipment for marine and land-based activities. The company operates through two primary segments: the Marine Electronics & Boat Group and the Outdoor Products Group. Its marine offerings include electric motors and anchors under the Minn Kota® brand, fish-finding and sonar systems under the Humminbird® brand, and a lineup of recreational watercraft under the Old Town® and Ocean Kayak® names.