Allspring Global Investments Holdings LLC Grows Position in Johnson Outdoors Inc. $JOUT

Allspring Global Investments Holdings LLC grew its stake in shares of Johnson Outdoors Inc. (NASDAQ:JOUT) by 19.8% in the first quarter, Holdings Channel.com reports. The fund owned 119,451 shares of the company’s stock after purchasing an additional 19,769 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Johnson Outdoors were worth $5,606,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Gamco Investors INC. ET AL lifted its position in Johnson Outdoors by 4.4% during the fourth quarter. Gamco Investors INC. ET AL now owns 418,100 shares of the company’s stock valued at $17,748,000 after acquiring an additional 17,700 shares during the last quarter. Ritholtz Wealth Management grew its holdings in Johnson Outdoors by 235.4% during the first quarter. Ritholtz Wealth Management now owns 17,380 shares of the company’s stock worth $808,000 after acquiring an additional 12,198 shares during the period. Illumine Investment Management LLC purchased a new stake in Johnson Outdoors during the first quarter worth $955,000. North Star Investment Management Corp. boosted its position in Johnson Outdoors by 51.4% during the first quarter. North Star Investment Management Corp. now owns 52,700 shares of the company’s stock worth $2,451,000 after purchasing an additional 17,899 shares in the last quarter. Finally, Corient Private Wealth LLC acquired a new stake in Johnson Outdoors in the 2nd quarter worth about $1,528,000. 64.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Johnson Outdoors Price Performance

Shares of JOUT stock opened at $45.77 on Friday. The business’s fifty day moving average price is $44.94 and its 200 day moving average price is $46.72. Johnson Outdoors Inc. has a 1-year low of $31.78 and a 1-year high of $53.54. The firm has a market capitalization 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 results on Friday, May 8th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.02. Johnson Outdoors had a negative net margin of 2.33% and a positive return on equity of 2.52%. The company had revenue of $194.48 million during the quarter, compared to the consensus estimate of $185.09 million. Equities research analysts expect that Johnson Outdoors Inc. will post 0.75 earnings per share for the current fiscal year.

Johnson Outdoors Announces Dividend

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

Johnson Outdoors Company Profile

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.