Winnebago Industries (NYSE:WGO) Sets New 52-Week Low - Here's What Happened

Key Points

• Winnebago shares hit a new 52-week low, falling to $25.69 intraday and last trading at $25.28, below the $26.37 prior close.
• Analyst sentiment is cautious: three analysts rate the stock a Buy and nine rate it Hold, producing a consensus rating of Hold and an average price target of $36.22.
• The company raised its quarterly dividend to $0.36, equivalent to a 5.8% annual yield, although its payout ratio is elevated at 105.88%; insiders have also sold shares under pre-arranged trading plans.

Shares of Winnebago Industries, Inc. (NYSE:WGO - Get Free Report) reached a new 52-week low during trading on Monday. The stock traded as low as $25.69 and last traded at $25.28, with a volume of 13212 shares trading hands. The stock had previously closed at $26.37.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WGO. Truist Financial reduced their target price on shares of Winnebago Industries from $43.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, July 8th. Benchmark lowered their price target on shares of Winnebago Industries from $48.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, June 23rd. Citigroup reduced their price objective on Winnebago Industries from $30.00 to $29.00 and set a "neutral" rating for the company in a research note on Wednesday, September 16th. Seaport Research Partners initiated coverage on Winnebago Industries in a research note on Monday, July 27th. They issued a "neutral" rating on the stock. Finally, Roth Capital dropped their target price on Winnebago Industries from $38.00 to $32.00 and set a "neutral" rating on the stock in a report on Tuesday, June 23rd. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $36.22.

Winnebago Industries Stock Performance

The business's 50-day simple moving average is $29.88 and its two-hundred day simple moving average is $30.42. The firm has a market cap of $704.06 million, a price-to-earnings ratio of 18.33 and a beta of 1.18. The company has a quick ratio of 0.92, a current ratio of 2.37 and a debt-to-equity ratio of 0.36.

Winnebago Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 9th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.8%. This is a boost from Winnebago Industries's previous quarterly dividend of $0.35. The ex-dividend date was Wednesday, September 9th. Winnebago Industries's dividend payout ratio (DPR) is presently 105.88%.

Insider Activity at Winnebago Industries

In related news, CEO Michael J. Happe sold 12,045 shares of the business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $32.68, for a total value of $393,630.60. Following the completion of the sale, the chief executive officer owned 349,349 shares of the company's stock, valued at approximately $11,416,725.32. The trade was a 3.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Bret A. Woodson sold 2,414 shares of the company's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $32.66, for a total transaction of $78,841.24. Following the transaction, the senior vice president owned 31,274 shares of the company's stock, valued at $1,021,408.84. This represents a 7.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 15,694 shares of company stock valued at $511,658. Corporate insiders own 4.88% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WGO. Pzena Investment Management LLC acquired a new stake in shares of Winnebago Industries in the second quarter worth approximately $53,406,000. Deprince Race & Zollo Inc. raised its stake in Winnebago Industries by 300.6% in the 1st quarter. Deprince Race & Zollo Inc. now owns 573,448 shares of the RV manufacturer's stock valued at $17,771,000 after purchasing an additional 430,300 shares during the last quarter. Maple Rock Capital Partners Inc. raised its stake in Winnebago Industries by 33.3% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 1,559,231 shares of the RV manufacturer's stock valued at $48,710,000 after purchasing an additional 389,400 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Winnebago Industries in the 2nd quarter valued at $9,545,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Winnebago Industries by 72.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 664,638 shares of the RV manufacturer's stock valued at $20,597,000 after purchasing an additional 280,017 shares in the last quarter.

Winnebago Industries Company Profile

Winnebago Industries, Inc is a manufacturer of recreational vehicles and marine products. The company designs and produces motorhomes, travel trailers, fifth-wheel trailers and other towable recreational vehicles sold under brands including Winnebago, Grand Design, Newmar and other affiliated names.

Through its marine businesses, Winnebago also manufactures recreational boats under brands such as Chris-Craft and Barletta. Its products are distributed primarily through independent dealers and serve consumers seeking travel, outdoor recreation and leisure-oriented transportation.

Founded in 1958 and based in Forest City, Iowa, the company has expanded from its original motorhome business into a broader recreational products organization.

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