US Bancorp DE trimmed its stake in shares of Johnson Outdoors Inc. (NASDAQ:JOUT) by 2.4% in the second quarter, HoldingsChannel.com reports. The fund owned 14,434 shares of the company’s stock after selling 354 shares during the quarter. US Bancorp DE’s holdings in Johnson Outdoors were worth $1,076,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in JOUT. Royce & Associates LP lifted its position in shares of Johnson Outdoors by 63.6% during the 1st quarter. Royce & Associates LP now owns 231,722 shares of the company’s stock valued at $16,536,000 after acquiring an additional 90,053 shares during the period. THB Asset Management lifted its position in shares of Johnson Outdoors by 48.4% during the 1st quarter. THB Asset Management now owns 221,935 shares of the company’s stock valued at $15,837,000 after acquiring an additional 72,423 shares during the period. Wells Fargo & Company MN lifted its position in shares of Johnson Outdoors by 55.4% during the 2nd quarter. Wells Fargo & Company MN now owns 115,761 shares of the company’s stock valued at $8,632,000 after acquiring an additional 41,257 shares during the period. Renaissance Technologies LLC lifted its position in shares of Johnson Outdoors by 6.4% during the 2nd quarter. Renaissance Technologies LLC now owns 370,900 shares of the company’s stock valued at $27,658,000 after acquiring an additional 22,153 shares during the period. Finally, Aurora Investment Counsel bought a new stake in shares of Johnson Outdoors during the 2nd quarter valued at $1,252,000. Hedge funds and other institutional investors own 63.47% of the company’s stock.
In other news, CFO David W. Johnson sold 1,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $60.39, for a total transaction of $60,390.00. Following the completion of the transaction, the chief financial officer now owns 13,958 shares of the company’s stock, valued at approximately $842,923.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 18.60% of the stock is currently owned by insiders.
Johnson Outdoors (NASDAQ:JOUT) last posted its quarterly earnings results on Friday, August 2nd. The company reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.13). Johnson Outdoors had a return on equity of 14.40% and a net margin of 7.74%. The business had revenue of $176.25 million for the quarter, compared to analyst estimates of $176.30 million. As a group, sell-side analysts anticipate that Johnson Outdoors Inc. will post 4.53 EPS for the current fiscal year.
A number of research firms have recently commented on JOUT. Imperial Capital lowered their price target on Johnson Outdoors from $95.00 to $80.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. They noted that the move was a valuation call. BidaskClub cut Johnson Outdoors from a “sell” rating to a “strong sell” rating in a report on Tuesday. ValuEngine cut Johnson Outdoors from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Zacks Investment Research cut Johnson Outdoors from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Sidoti cut Johnson Outdoors from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $102.00 to $80.00 in a report on Monday, July 15th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $79.00.
About Johnson Outdoors
Johnson Outdoors Inc designs, manufactures, and markets camping, diving, watercraft, and marine electronics products worldwide. The company's Fishing segment offers electric motors for trolling or primary propulsion, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.
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