Johnson Outdoors (NASDAQ:JOUT) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Johnson Outdoors (NASDAQ:JOUT) 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

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.