Wallace Capital Management Inc. Has $11.65 Million Holdings in Johnson Outdoors Inc. (NASDAQ:JOUT)

Wallace Capital Management Inc. reduced its position in Johnson Outdoors Inc. (NASDAQ:JOUT) by 3.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 332,896 shares of the company’s stock after selling 10,890 shares during the quarter. Johnson Outdoors makes up about 1.5% of Wallace Capital Management Inc.’s investment portfolio, making the stock its 14th largest holding. Wallace Capital Management Inc.’s holdings in Johnson Outdoors were worth $11,645,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Johnson Outdoors by 13.9% during the 1st quarter. Vanguard Group Inc. now owns 346,115 shares of the company’s stock valued at $15,959,000 after acquiring an additional 42,314 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Johnson Outdoors by 39.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 248,300 shares of the company’s stock valued at $11,449,000 after acquiring an additional 70,300 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Johnson Outdoors by 17.3% during the 1st quarter. ProShare Advisors LLC now owns 163,026 shares of the company’s stock valued at $7,517,000 after acquiring an additional 23,987 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Johnson Outdoors by 8.2% during the 1st quarter. Empowered Funds LLC now owns 16,213 shares of the company’s stock valued at $748,000 after acquiring an additional 1,225 shares during the last quarter. Finally, Gabelli Funds LLC increased its holdings in shares of Johnson Outdoors by 20.4% during the 4th quarter. Gabelli Funds LLC now owns 17,700 shares of the company’s stock valued at $946,000 after acquiring an additional 3,000 shares during the last quarter. 64.05% of the stock is owned by institutional investors and hedge funds.

Johnson Outdoors Stock Performance

Shares of NASDAQ JOUT opened at $36.46 on Monday. The business’s 50-day simple moving average is $37.14 and its 200-day simple moving average is $38.27. Johnson Outdoors Inc. has a 52 week low of $32.79 and a 52 week high of $55.43. The firm has a market cap of $375.57 million, a price-to-earnings ratio of 77.57, a P/E/G ratio of 38.12 and a beta of 0.70.

Johnson Outdoors (NASDAQ:JOUT) last announced its earnings results on Monday, August 5th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.06). Johnson Outdoors had a negative net margin of 1.42% and a negative return on equity of 1.65%. The business had revenue of $172.47 million for the quarter, compared to the consensus estimate of $176.14 million. During the same quarter in the previous year, the company earned $1.44 EPS. As a group, equities research analysts forecast that Johnson Outdoors Inc. will post 0.07 earnings per share for the current year.

Johnson Outdoors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.32 annualized dividend and a yield of 3.62%. Johnson Outdoors’s payout ratio is 280.85%.

Analysts Set New Price Targets

Separately, StockNews.com raised Johnson Outdoors from a “sell” rating to a “hold” rating in a report on Thursday, August 8th.

Johnson Outdoors Company Profile

Johnson Outdoors Inc designs, manufactures, and markets seasonal and outdoor recreational products for fishing worldwide. It operates through four segments: Fishing, Camping, Watercraft Recreation, and Diving. The Fishing segment offers electric motors for trolling, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.