Russell Investments Group Ltd. Sells 35,310 Shares of Johnson Outdoors Inc. $JOUT

Key Points

• Russell Investments Group Ltd. reduced its stake in Johnson Outdoors Inc. by 19.9% in the first quarter, now holding 142,266 shares worth approximately $3.5 million.
• Several other institutional investors have increased their stakes in Johnson Outdoors, with Ameriprise Financial raising its position by 31.1% in the fourth quarter.
• Johnson Outdoors reported $0.75 EPS in its latest earnings, significantly surpassing analysts' expectations of $0.24, and had a revenue of $180.66 million for the quarter.

Russell Investments Group Ltd. lessened its position in Johnson Outdoors Inc. (NASDAQ:JOUT - Free Report) by 19.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 142,266 shares of the company's stock after selling 35,310 shares during the quarter. Russell Investments Group Ltd. owned approximately 1.38% of Johnson Outdoors worth $3,534,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameriprise Financial Inc. raised its position in Johnson Outdoors by 31.1% in the 4th quarter. Ameriprise Financial Inc. now owns 43,397 shares of the company's stock valued at $1,432,000 after buying an additional 10,300 shares during the last quarter. Two Sigma Investments LP increased its position in shares of Johnson Outdoors by 164.9% during the 4th quarter. Two Sigma Investments LP now owns 21,006 shares of the company's stock worth $693,000 after purchasing an additional 13,076 shares during the last quarter. Millennium Management LLC increased its position in shares of Johnson Outdoors by 30.0% during the 4th quarter. Millennium Management LLC now owns 67,520 shares of the company's stock worth $2,228,000 after purchasing an additional 15,575 shares during the last quarter. Peapod Lane Capital LLC increased its position 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 purchasing an additional 33,659 shares during the last quarter. Finally, Skylands Capital LLC increased its position 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 purchasing an additional 33,750 shares during the last quarter. Institutional investors and hedge funds own 64.05% of the company's stock.

Analysts Set New Price Targets

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

Johnson Outdoors Stock Down 1.0%

Shares of JOUT stock traded down $0.43 during trading on Thursday, reaching $40.71. 17,628 shares of the company's stock were exchanged, compared to its average volume of 53,331. The stock has a market capitalization of $422.16 million, a PE ratio of -10.53 and a beta of 0.81. Johnson Outdoors Inc. has a twelve month low of $21.33 and a twelve month high of $42.88. The firm's fifty day moving average price is $34.42 and its 200-day moving average price is $28.94.

Johnson Outdoors (NASDAQ:JOUT - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.51. The business had revenue of $180.66 million for the quarter, compared to analyst estimates 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, analysts anticipate that Johnson Outdoors Inc. will post -0.58 EPS for the current fiscal year.

Johnson Outdoors Announces Dividend

The business also recently announced 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Thursday, July 10th. Johnson Outdoors's dividend payout ratio is presently -34.11%.

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.