Thrivent Financial for Lutherans reduced its stake in shares of Harley-Davidson (NYSE:HOG) by 7.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,381,436 shares of the company’s stock after selling 114,075 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Harley-Davidson were worth $59,236,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Montreal Can lifted its stake in shares of Harley-Davidson by 17.6% during the 4th quarter. Bank of Montreal Can now owns 85,556 shares of the company’s stock worth $4,353,000 after purchasing an additional 12,807 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Harley-Davidson by 2.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 181,868 shares of the company’s stock worth $9,254,000 after purchasing an additional 4,026 shares during the last quarter. Norinchukin Bank The lifted its stake in shares of Harley-Davidson by 108.4% during the 4th quarter. Norinchukin Bank The now owns 26,457 shares of the company’s stock worth $1,346,000 after purchasing an additional 13,760 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Harley-Davidson by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,730,695 shares of the company’s stock worth $87,869,000 after purchasing an additional 27,799 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Harley-Davidson by 5,971.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 249,889 shares of the company’s stock worth $12,715,000 after purchasing an additional 245,773 shares during the last quarter. Hedge funds and other institutional investors own 95.87% of the company’s stock.
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Shares of Harley-Davidson opened at $40.88 on Tuesday, Marketbeat.com reports. Harley-Davidson has a 1 year low of $40.67 and a 1 year high of $41.11. The stock has a market cap of $6.79 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The company has a current ratio of 1.11, a quick ratio of 0.96 and a debt-to-equity ratio of 2.06.
Harley-Davidson (NYSE:HOG) last announced its earnings results on Tuesday, April 24th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.16. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.24 billion. Harley-Davidson had a return on equity of 32.45% and a net margin of 10.31%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 EPS. research analysts expect that Harley-Davidson will post 3.85 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Wednesday, May 30th. Harley-Davidson’s dividend payout ratio is presently 42.29%.
Harley-Davidson declared that its Board of Directors has authorized a share repurchase plan on Monday, February 5th that permits the company to repurchase 15,000,000 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
A number of brokerages recently weighed in on HOG. Wells Fargo upgraded Harley-Davidson from a “market perform” rating to an “outperform” rating and set a $59.00 price objective for the company in a research note on Monday, January 22nd. Stifel Nicolaus restated a “hold” rating and set a $54.00 price objective (up from $49.00) on shares of Harley-Davidson in a research note on Wednesday, January 17th. ValuEngine cut Harley-Davidson from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research cut Harley-Davidson from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Finally, Citigroup decreased their price objective on Harley-Davidson from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $50.75.
About Harley-Davidson
Harley-Davidson, Inc primarily manufactures and sells cruiser and touring motorcycles. The company operates in two segments, Motorcycles & Related Products, and Financial Services. The Motorcycles & Related Products segment designs, manufactures, and sells at wholesale on-road Harley-Davidson motorcycles, as well as motorcycle parts, accessories, general merchandise, and related services.
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