Johnson Outdoors Inc. $JOUT Stake Decreased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. sold 7,824 shares of Johnson Outdoors Inc., reducing its stake by 15.6% to approximately 42,423 shares, valued at $1,054,000.
• Johnson Outdoors reported a positive earnings per share of $0.75 for the quarter, surpassing analyst expectations of $0.24, with revenue of $180.66 million.
• The company announced a quarterly dividend of $0.33 per share, reflecting a 3.2% dividend yield despite a negative payout ratio of -34.11%.

Goldman Sachs Group Inc. lowered its stake in Johnson Outdoors Inc. (NASDAQ:JOUT - Free Report) by 15.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,423 shares of the company's stock after selling 7,824 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.41% of Johnson Outdoors worth $1,054,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in JOUT. Diamond Hill Capital Management Inc. increased its holdings in shares of Johnson Outdoors by 523.6% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 55,143 shares of the company's stock worth $1,370,000 after buying an additional 46,301 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Johnson Outdoors by 11.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 397,117 shares of the company's stock worth $9,864,000 after buying an additional 41,717 shares during the last quarter. Skylands Capital LLC increased its holdings in shares of Johnson Outdoors by 20.8% during the 1st quarter. Skylands Capital LLC now owns 195,950 shares of the company's stock worth $4,867,000 after buying an additional 33,750 shares during the last quarter. Peapod Lane Capital LLC increased its holdings in shares of Johnson Outdoors by 61.4% during the 1st quarter. Peapod Lane Capital LLC now owns 88,471 shares of the company's stock worth $2,198,000 after buying an additional 33,659 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Johnson Outdoors by 127.5% during the 1st quarter. AQR Capital Management LLC now owns 33,515 shares of the company's stock worth $833,000 after buying an additional 18,782 shares during the last quarter. 64.05% of the stock is currently owned by institutional investors and hedge funds.

Johnson Outdoors Price Performance

NASDAQ JOUT traded down $0.47 during trading hours on Monday, hitting $40.40. The company had a trading volume of 40,053 shares, compared to its average volume of 42,115. Johnson Outdoors Inc. has a fifty-two week low of $21.33 and a fifty-two week high of $42.88. The company has a market capitalization of $418.95 million, a price-to-earnings ratio of -10.44 and a beta of 0.85. The firm's 50 day moving average is $37.97 and its 200 day moving average is $30.54.

Johnson Outdoors (NASDAQ:JOUT - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.51. The company had revenue of $180.66 million during the quarter, compared to analysts' expectations of $172.98 million. Johnson Outdoors had a negative net margin of 7.02% and a negative return on equity of 8.80%. On average, equities analysts anticipate that Johnson Outdoors Inc. will post -0.58 EPS for the current year.

Johnson Outdoors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.32 annualized dividend and a dividend yield of 3.3%. Johnson Outdoors's dividend payout ratio (DPR) is presently -34.11%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Johnson Outdoors from a "hold" rating to a "buy" rating in a report on Saturday, August 9th.

Johnson Outdoors 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.