Divisadero Street Capital Management LP Takes Position in Johnson Outdoors Inc. $JOUT

Divisadero Street Capital Management LP acquired a new position in shares of Johnson Outdoors Inc. (NASDAQ:JOUT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 190,057 shares of the company’s stock, valued at approximately $7,676,000. Divisadero Street Capital Management LP owned approximately 1.83% of Johnson Outdoors at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Johnson Outdoors by 158.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 100,913 shares of the company’s stock valued at $4,142,000 after acquiring an additional 61,934 shares during the last quarter. Aristides Capital LLC raised its stake in Johnson Outdoors by 188.4% in the 3rd quarter. Aristides Capital LLC now owns 90,440 shares of the company’s stock valued at $3,653,000 after purchasing an additional 59,079 shares during the last quarter. Corient Private Wealth LLC acquired a new position in Johnson Outdoors in the 2nd quarter valued at about $1,528,000. Two Sigma Investments LP lifted its holdings in Johnson Outdoors by 429.5% in the 3rd quarter. Two Sigma Investments LP now owns 56,159 shares of the company’s stock valued at $2,268,000 after purchasing an additional 45,552 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Johnson Outdoors by 28.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 182,574 shares of the company’s stock valued at $5,527,000 after purchasing an additional 40,308 shares in the last quarter. 64.05% of the stock is owned by hedge funds and other institutional investors.

Johnson Outdoors Trading Down 0.5%

Shares of Johnson Outdoors stock opened at $44.05 on Monday. The business’s fifty day moving average price is $46.91 and its 200 day moving average price is $43.24. Johnson Outdoors Inc. has a twelve month low of $21.33 and a twelve month high of $51.65. The stock has a market capitalization of $458.56 million, a P/E ratio of -20.11, a PEG ratio of 2.74 and a beta of 0.88.

Johnson Outdoors (NASDAQ:JOUT) last announced its quarterly earnings results on Friday, February 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.12. The company had revenue of $140.94 million during the quarter, compared to analyst estimates of $123.95 million. Johnson Outdoors had a positive return on equity of 0.83% and a negative net margin of 3.56%. As a group, sell-side analysts predict that Johnson Outdoors Inc. will post -0.58 EPS for the current year.

Johnson Outdoors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 16th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, April 16th. Johnson Outdoors’s dividend payout ratio is -60.27%.

Insider Activity at Johnson Outdoors

In related news, Director Richard Casey Sheahan sold 7,580 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $49.77, for a total value of $377,256.60. Following the transaction, the director owned 5,739 shares in the company, valued at approximately $285,630.03. This trade represents a 56.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Edward F. Lang sold 2,000 shares of Johnson Outdoors stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $43.94, for a total transaction of $87,880.00. Following the transaction, the director directly owned 32,171 shares in the company, valued at approximately $1,413,593.74. This trade represents a 5.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 28.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on JOUT. Weiss Ratings reiterated a “sell (d)” rating on shares of Johnson Outdoors in a report on Monday, December 29th. Wall Street Zen downgraded shares of Johnson Outdoors from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 15th. Finally, Zacks Research upgraded shares of Johnson Outdoors from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

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.