Allspring Global Investments Holdings LLC Raises Stock Holdings in Johnson Outdoors Inc. $JOUT

Allspring Global Investments Holdings LLC grew its stake in shares of Johnson Outdoors Inc. (NASDAQ:JOUT) by 19.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,451 shares of the company’s stock after buying an additional 19,769 shares during the period. Allspring Global Investments Holdings LLC owned 1.15% of Johnson Outdoors worth $5,606,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in JOUT. CANADA LIFE ASSURANCE Co grew its holdings in Johnson Outdoors by 57.8% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,018 shares of the company’s stock valued at $43,000 after buying an additional 373 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Johnson Outdoors by 260.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,122 shares of the company’s stock worth $48,000 after buying an additional 811 shares in the last quarter. Highlander Partners L.P. purchased a new stake in shares of Johnson Outdoors in the fourth quarter worth about $50,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Johnson Outdoors during the 4th quarter worth approximately $50,000. Finally, Raymond James Financial Inc. bought a new position in shares of Johnson Outdoors in the 2nd quarter valued at about $52,000. Institutional investors own 64.05% of the company’s stock.

Johnson Outdoors Trading Down 1.9%

NASDAQ JOUT opened at $45.77 on Friday. The stock has a fifty day simple moving average of $44.94 and a 200-day simple moving average of $46.72. Johnson Outdoors Inc. has a twelve month low of $31.78 and a twelve month high of $53.54. The stock has a market cap of $479.67 million, a PE ratio of -30.11, a P/E/G ratio of 4.45 and a beta of 0.81.

Johnson Outdoors (NASDAQ:JOUT) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.87 by $0.02. The business had revenue of $194.48 million during the quarter, compared to analyst estimates of $185.09 million. Johnson Outdoors had a negative net margin of 2.33% and a positive return on equity of 2.52%. Research analysts predict that Johnson Outdoors Inc. will post 0.75 EPS for the current year.

Johnson Outdoors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Thursday, July 16th will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, July 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.9%. Johnson Outdoors’s dividend payout ratio is -86.84%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on JOUT. Weiss Ratings restated a “sell (d-)” rating on shares of Johnson Outdoors in a report on Friday, May 8th. Wall Street Zen cut shares of Johnson Outdoors from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research downgraded Johnson Outdoors from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Johnson Outdoors presently has an average rating of “Reduce”.

About Johnson Outdoors

Johnson Outdoors Inc is a diversified outdoor recreation company that develops, manufactures and markets a broad range of gear and equipment for marine and land-based activities. The company operates through two primary segments: the Marine Electronics & Boat Group and the Outdoor Products Group. Its marine offerings include electric motors and anchors under the Minn Kota® brand, fish-finding and sonar systems under the Humminbird® brand, and a lineup of recreational watercraft under the Old Town® and Ocean Kayak® names.