Winnebago Industries (NYSE:WGO) Shares Gap Down Following Analyst Downgrade

Shares of Winnebago Industries, Inc. (NYSE:WGO) gapped down prior to trading on Wednesday after Benchmark lowered their price target on the stock from $75.00 to $70.00. The stock had previously closed at $58.02, but opened at $53.67. Benchmark currently has a buy rating on the stock. Winnebago Industries shares last traded at $55.11, with a volume of 269,439 shares changing hands.

Several other analysts also recently commented on WGO. Citigroup upped their price target on shares of Winnebago Industries from $71.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, July 12th. StockNews.com downgraded shares of Winnebago Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. Finally, Truist Financial upped their price objective on shares of Winnebago Industries from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.29.

Hedge Funds Weigh In On Winnebago Industries

A number of institutional investors and hedge funds have recently made changes to their positions in WGO. 1832 Asset Management L.P. grew its stake in shares of Winnebago Industries by 484.1% during the 1st quarter. 1832 Asset Management L.P. now owns 1,004,077 shares of the construction company’s stock worth $74,302,000 after purchasing an additional 832,187 shares during the period. Pacer Advisors Inc. grew its stake in Winnebago Industries by 47.8% in the 2nd quarter. Pacer Advisors Inc. now owns 1,431,764 shares of the construction company’s stock valued at $77,602,000 after acquiring an additional 463,257 shares during the last quarter. Millennium Management LLC grew its stake in Winnebago Industries by 1,772.8% in the 2nd quarter. Millennium Management LLC now owns 210,504 shares of the construction company’s stock valued at $11,409,000 after acquiring an additional 199,264 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in Winnebago Industries in the 2nd quarter valued at about $9,708,000. Finally, Marshall Wace LLP acquired a new stake in Winnebago Industries in the 2nd quarter valued at about $7,976,000.

Winnebago Industries Stock Performance

The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 19.99 and a beta of 1.61. The stock’s 50 day moving average is $58.00 and its 200 day moving average is $58.83. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48.

Winnebago Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.63%. This is a boost from Winnebago Industries’s previous quarterly dividend of $0.31. The ex-dividend date was Wednesday, September 11th. Winnebago Industries’s dividend payout ratio is presently 52.51%.

About Winnebago Industries

Winnebago Industries, Inc manufactures and sells recreation vehicles and marine products primarily for use in leisure travel and outdoor recreation activities. The company operates through three segments: Towable RV, Motorhome RV, and Marine. It provides towable products that are non-motorized vehicles to be towed by automobiles, pickup trucks, SUVs, or vans for use as temporary living quarters for recreational travel, such as conventional travel trailers, fifth wheels, folding camper trailers, and truck campers under the Winnebago and Grand Design brand names.