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The descendants of Winnebago Industries Inc. founder John K. Hanson and his wife, Luise, revealed today (Feb. 12) another plan to sell more of their Winnebago stock to reduce their holding to 6% of the company.
In compliance with Securities & Exchange Commission (SEC) rules, the family’s investment company, Hanson Capital Partners LLC, revealed today it owns 2.26 million shares of Winnebago stock.
Winnebago has 16.94 million shares outstanding, so Hanson Capital currently owns about 13% of the motorhome manufacturer.
Hanson Capital disclosed today it planned to sell up to 1.25 million shares between now and July 31, depending on the daily market price for the New York Stock Exchange-listed shares.
If Hanson Capital completes the sale of 1.25 million shares, its remaining 1.01 million shares would be equivalent to 6% of Winnebago’s outstanding stock.
Hanson Capital sold 700,000 shares between Nov. 12 and Jan. 6.
The Hansons have picked a good time to cash out some of their holding because Winnebago stock has traded well above $70 in recent weeks. The stock closed at $74.02 a share today.
Hanson Capital’s trading plan will be automatically adjusted on a proportional basis for the 2-for-1 split of Winnebago shares that will take effect March 5 for shareholders of record as of Feb. 20.