Wedge Capital Management L L P NC Raises Position in Harley-Davidson, Inc. (NYSE:HOG)

Wedge Capital Management L L P NC boosted its stake in Harley-Davidson, Inc. (NYSE:HOG) by 7.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,079 shares of the company’s stock after purchasing an additional 4,102 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Harley-Davidson were worth $1,914,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC raised its stake in shares of Harley-Davidson by 14.7% in the 4th quarter. Cerity Partners LLC now owns 13,492 shares of the company’s stock valued at $497,000 after purchasing an additional 1,729 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Harley-Davidson during the 4th quarter valued at $1,312,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Harley-Davidson by 10.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,342 shares of the company’s stock worth $1,044,000 after acquiring an additional 2,577 shares during the period. Lindbrook Capital LLC raised its holdings in shares of Harley-Davidson by 66.7% in the 4th quarter. Lindbrook Capital LLC now owns 1,057 shares of the company’s stock worth $39,000 after purchasing an additional 423 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Harley-Davidson by 115.0% in the fourth quarter. Signaturefd LLC now owns 1,150 shares of the company’s stock valued at $42,000 after buying an additional 615 shares in the last quarter. Institutional investors and hedge funds own 85.10% of the company’s stock.

Harley-Davidson Stock Performance

NYSE:HOG traded up $0.88 during trading hours on Thursday, reaching $36.86. The stock had a trading volume of 1,113,224 shares, compared to its average volume of 1,735,749. The stock has a 50 day simple moving average of $34.53 and a 200 day simple moving average of $36.58. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.50. Harley-Davidson, Inc. has a 12-month low of $25.43 and a 12-month high of $44.16. The stock has a market cap of $4.96 billion, a P/E ratio of 8.19, a price-to-earnings-growth ratio of 1.15 and a beta of 1.46.

Harley-Davidson (NYSE:HOG) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.23. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Harley-Davidson had a net margin of 11.92% and a return on equity of 20.33%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the business earned $1.22 earnings per share. On average, research analysts forecast that Harley-Davidson, Inc. will post 4.35 EPS for the current fiscal year.

Harley-Davidson declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 19.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Harley-Davidson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Wednesday, June 5th were issued a $0.1725 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.69 annualized dividend and a yield of 1.87%. Harley-Davidson’s payout ratio is 15.33%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup lowered their price target on shares of Harley-Davidson from $36.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, June 12th. BMO Capital Markets reduced their price objective on shares of Harley-Davidson from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Robert W. Baird upped their price objective on shares of Harley-Davidson from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Morgan Stanley started coverage on Harley-Davidson in a report on Tuesday, April 23rd. They set an “overweight” rating and a $50.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Harley-Davidson currently has an average rating of “Moderate Buy” and a consensus price target of $45.14.

Harley-Davidson Company Profile

Harley-Davidson, Inc manufactures and sells motorcycles in the United States and internationally. The company operates in three segments: Harley-Davidson Motor Company, LiveWire, and Harley-Davidson Financial Services. The Harley-Davidson Motor Company segment designs, manufactures, and sells motorcycles, including cruiser, trike, touring, standard, sportbike, adventure, and dual sport, as well as motorcycle parts, accessories, and apparel, as well as licenses its trademarks and related services.