Johnson Outdoors (NASDAQ:JOUT) Raised to “Buy” at upgraded shares of Johnson Outdoors (NASDAQ:JOUTFree Report) from a hold rating to a buy rating in a report released on Friday.

Johnson Outdoors Price Performance

Shares of JOUT stock opened at $52.55 on Friday. Johnson Outdoors has a 1-year low of $47.00 and a 1-year high of $71.88. The company has a market cap of $538.64 million, a price-to-earnings ratio of 11.92, a PEG ratio of 1.01 and a beta of 0.80. The stock has a 50 day simple moving average of $51.76 and a 200-day simple moving average of $56.27.

Johnson Outdoors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, October 13th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.51%. This is an increase from Johnson Outdoors’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Thursday, October 12th. Johnson Outdoors’s dividend payout ratio (DPR) is presently 29.93%.

Insider Transactions at Johnson Outdoors

In related news, CFO David W. Johnson sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $54.85, for a total value of $54,850.00. Following the transaction, the chief financial officer now directly owns 26,857 shares of the company’s stock, valued at approximately $1,473,106.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 27.53% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC purchased a new stake in shares of Johnson Outdoors during the second quarter worth $8,293,000. First Trust Advisors LP raised its holdings in Johnson Outdoors by 147.6% in the 1st quarter. First Trust Advisors LP now owns 110,968 shares of the company’s stock valued at $8,626,000 after acquiring an additional 66,158 shares during the last quarter. Millennium Management LLC lifted its stake in Johnson Outdoors by 198.5% in the 4th quarter. Millennium Management LLC now owns 63,226 shares of the company’s stock worth $4,181,000 after purchasing an additional 42,043 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Johnson Outdoors by 1,135.0% in the third quarter. AQR Capital Management LLC now owns 44,670 shares of the company’s stock valued at $2,443,000 after purchasing an additional 41,053 shares in the last quarter. Finally, Skylands Capital LLC increased its holdings in shares of Johnson Outdoors by 86.6% in the third quarter. Skylands Capital LLC now owns 68,658 shares of the company’s stock valued at $3,755,000 after purchasing an additional 31,858 shares during the last quarter. 60.10% of the stock is owned by institutional investors and hedge funds.

Johnson Outdoors Company Profile

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Johnson Outdoors Inc designs, manufactures, and markets seasonal and outdoor recreational products for fishing worldwide. It operates through four segments: Fishing, Camping, Watercraft Recreation, and Diving. The Fishing segment offers electric motors for trolling, 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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