Winnebago Industries (NYSE:WGO) Stock Price Down 4.9% – Here’s Why

Winnebago Industries, Inc. (NYSE:WGO)’s share price was down 4.9% during mid-day trading on Monday. The company traded as low as $22.87 and last traded at $22.8240. Approximately 86,645 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 645,400 shares. The stock had previously closed at $24.00.

Analyst Ratings Changes

Several brokerages recently commented on WGO. Roth Capital dropped their price target on shares of Winnebago Industries from $38.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, June 23rd. Weiss Ratings lowered shares of Winnebago Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 14th. Wall Street Zen upgraded shares of Winnebago Industries from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Benchmark lowered their price objective on shares of Winnebago Industries from $48.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, June 23rd. Finally, Seaport Research Partners assumed coverage on Winnebago Industries in a report on Monday, July 27th. They set a “neutral” rating for the company. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $35.67.

Winnebago Industries Trading Up 2.3%

The company has a debt-to-equity ratio of 0.36, a current ratio of 2.37 and a quick ratio of 0.92. The business’s 50-day simple moving average is $28.02 and its two-hundred day simple moving average is $29.68. The stock has a market capitalization of $655.89 million, a price-to-earnings ratio of 17.06 and a beta of 1.18.

Winnebago Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 9th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 6.2%. The ex-dividend date was Wednesday, September 9th. This is a positive change from Winnebago Industries’s previous quarterly dividend of $0.35. Winnebago Industries’s dividend payout ratio (DPR) is presently 105.88%.

Insiders Place Their Bets

In related news, CEO Michael Happe sold 12,045 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $32.68, for a total value of $393,630.60. Following the completion of the sale, the chief executive officer directly owned 349,349 shares in the company, valued at approximately $11,416,725.32. This represents a 3.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Bret Woodson sold 1,235 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $31.73, for a total value of $39,186.55. Following the completion of the sale, the senior vice president owned 31,373 shares of the company’s stock, valued at approximately $995,465.29. This represents a 3.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 15,694 shares of company stock valued at $511,658. 4.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Winnebago Industries

Several institutional investors and hedge funds have recently modified their holdings of WGO. Maple Rock Capital Partners Inc. increased its position in shares of Winnebago Industries by 33.3% during the second quarter. Maple Rock Capital Partners Inc. now owns 1,559,231 shares of the RV manufacturer’s stock worth $48,710,000 after acquiring an additional 389,400 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of Winnebago Industries by 181.3% in the second quarter. Squarepoint Ops LLC now owns 113,403 shares of the RV manufacturer’s stock worth $3,543,000 after acquiring an additional 73,084 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Winnebago Industries in the second quarter valued at about $1,332,000. Bank of New York Mellon Corp purchased a new position in Winnebago Industries in the second quarter valued at about $5,881,000. Finally, Jefferies Financial Group Inc. purchased a new position in Winnebago Industries in the second quarter valued at about $1,384,000.

Winnebago Industries Company Profile

Winnebago Industries, Inc is a manufacturer of recreational vehicles and marine products. The company designs and produces motorhomes, travel trailers, fifth-wheel trailers and other towable recreational vehicles sold under brands including Winnebago, Grand Design, Newmar and other affiliated names.

Through its marine businesses, Winnebago also manufactures recreational boats under brands such as Chris-Craft and Barletta. Its products are distributed primarily through independent dealers and serve consumers seeking travel, outdoor recreation and leisure-oriented transportation.

Founded in 1958 and based in Forest City, Iowa, the company has expanded from its original motorhome business into a broader recreational products organization.