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. trimmed its holdings in Johnson Outdoors Inc. (NASDAQ:JOUT - Free Report) by 19.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,266 shares of the company's stock after selling 35,310 shares during the period. Russell Investments Group Ltd. owned 1.38% of Johnson Outdoors worth $3,534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its stake in shares of Johnson Outdoors by 31.1% during the fourth quarter. Ameriprise Financial Inc. now owns 43,397 shares of the company's stock worth $1,432,000 after buying an additional 10,300 shares during the last quarter. Two Sigma Investments LP lifted its holdings in Johnson Outdoors by 164.9% in the fourth quarter. Two Sigma Investments LP now owns 21,006 shares of the company's stock valued at $693,000 after buying an additional 13,076 shares during the period. Millennium Management LLC lifted its holdings in Johnson Outdoors by 30.0% in the fourth quarter. Millennium Management LLC now owns 67,520 shares of the company's stock valued at $2,228,000 after buying an additional 15,575 shares during the period. Peapod Lane Capital LLC raised its holdings in shares of Johnson Outdoors by 61.4% during the first quarter. Peapod Lane Capital LLC now owns 88,471 shares of the company's stock valued at $2,198,000 after purchasing an additional 33,659 shares during the period. Finally, Skylands Capital LLC raised its holdings in shares of Johnson Outdoors by 20.8% during the first quarter. Skylands Capital LLC now owns 195,950 shares of the company's stock valued at $4,867,000 after purchasing an additional 33,750 shares during the period. 64.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Johnson Outdoors Stock Down 0.6%

JOUT stock traded down $0.26 during trading on Friday, reaching $40.32. The stock had a trading volume of 46,707 shares, compared to its average volume of 64,576. Johnson Outdoors Inc. has a one year low of $21.33 and a one year high of $42.88. The company's 50 day moving average is $34.86 and its two-hundred day moving average is $29.10. The company has a market capitalization of $418.12 million, a price-to-earnings ratio of -10.42 and a beta of 0.81.

Johnson Outdoors (NASDAQ:JOUT - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.51. Johnson Outdoors had a negative net margin of 7.02% and a negative return on equity of 8.80%. The business had revenue of $180.66 million during the quarter, compared to the consensus estimate of $172.98 million. As a group, research analysts predict that Johnson Outdoors Inc. will post -0.58 earnings per share 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 3.3%. The ex-dividend date of this dividend was Thursday, July 10th. Johnson Outdoors's dividend payout ratio is currently -34.11%.

About Johnson Outdoors

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.