Hotchkis & Wiley Capital Management LLC Acquires 10,000 Shares of Johnson Outdoors Inc. $JOUT

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Johnson Outdoors Inc. by 5.0%, purchasing an additional 10,000 shares for a total ownership of 211,480 shares valued at approximately $5.25 million.
• Johnson Outdoors reported stronger-than-expected quarterly earnings, with $0.75 EPS that surpassed the consensus estimate of $0.24, and revenues of $180.66 million against an expected $172.98 million.
• The company declared a quarterly dividend of $0.33 per share, representing a dividend yield of 3.2%, despite having a negative dividend payout ratio of -34.11%.

Hotchkis & Wiley Capital Management LLC lifted its position in shares of Johnson Outdoors Inc. (NASDAQ:JOUT - Free Report) by 5.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 211,480 shares of the company's stock after acquiring an additional 10,000 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 2.05% of Johnson Outdoors worth $5,253,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC raised its position in shares of Johnson Outdoors by 49.0% during the first quarter. CWM LLC now owns 1,575 shares of the company's stock worth $39,000 after acquiring an additional 518 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Johnson Outdoors by 57.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,248 shares of the company's stock valued at $74,000 after purchasing an additional 820 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Johnson Outdoors by 26.4% in the fourth quarter. Wells Fargo & Company MN now owns 2,788 shares of the company's stock valued at $92,000 after purchasing an additional 583 shares during the last quarter. GAMMA Investing LLC increased its holdings in Johnson Outdoors by 5,310.7% in the first quarter. GAMMA Investing LLC now owns 3,030 shares of the company's stock valued at $75,000 after purchasing an additional 2,974 shares during the last quarter. Finally, Barclays PLC increased its holdings in Johnson Outdoors by 8.6% in the fourth quarter. Barclays PLC now owns 7,141 shares of the company's stock valued at $236,000 after purchasing an additional 566 shares during the last quarter. Institutional investors own 64.05% of the company's stock.

Johnson Outdoors Trading Down 0.6%

Shares of JOUT stock traded down $0.26 on Friday, hitting $40.32. 46,707 shares of the stock were exchanged, compared to its average volume of 59,029. The firm has a market capitalization of $418.12 million, a P/E ratio of -10.42 and a beta of 0.85. The business has a 50-day moving average of $34.86 and a 200 day moving average of $29.10. Johnson Outdoors Inc. has a fifty-two week low of $21.33 and a fifty-two week high of $42.88.

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, topping the consensus estimate 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 return on equity of 8.80% and a negative net margin of 7.02%. As a group, research analysts forecast that Johnson Outdoors Inc. will post -0.58 EPS for the current fiscal year.

Johnson Outdoors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Investors 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 yield of 3.3%. Johnson Outdoors's dividend payout ratio is -34.11%.

Analysts Set New Price Targets

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

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.