Bank of New York Mellon Corp Decreases Stock Holdings in Polaris Inc. (NYSE:PII)

Bank of New York Mellon Corp decreased its stake in Polaris Inc. (NYSE:PII - Free Report) by 2.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 760,092 shares of the company's stock after selling 16,381 shares during the period. Bank of New York Mellon Corp owned 1.35% of Polaris worth $31,118,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PII. RWWM Inc. grew its holdings in Polaris by 169.2% during the first quarter. RWWM Inc. now owns 2,395,049 shares of the company's stock worth $98,053,000 after purchasing an additional 1,505,351 shares during the period. Artisan Partners Limited Partnership grew its holdings in Polaris by 132.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 900,891 shares of the company's stock worth $51,909,000 after purchasing an additional 513,542 shares during the period. Norges Bank bought a new position in Polaris during the fourth quarter worth about $24,659,000. Capital World Investors grew its holdings in Polaris by 6.7% during the fourth quarter. Capital World Investors now owns 6,156,285 shares of the company's stock worth $354,725,000 after purchasing an additional 388,050 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Polaris during the fourth quarter worth about $21,776,000. Institutional investors own 88.06% of the company's stock.

Wall Street Analyst Weigh In

PII has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on Polaris from $31.00 to $29.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Robert W. Baird lifted their price target on Polaris from $38.00 to $46.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Wall Street Zen cut Polaris from a "hold" rating to a "sell" rating in a report on Thursday, May 8th. Citigroup restated a "sell" rating and set a $27.00 price objective (up previously from $23.00) on shares of Polaris in a report on Monday, June 16th. Finally, Baird R W cut Polaris from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Polaris has an average rating of "Hold" and an average price target of $46.00.

Polaris Price Performance

NYSE:PII traded down $0.43 during trading hours on Wednesday, hitting $46.85. The stock had a trading volume of 1,345,473 shares, compared to its average volume of 1,276,868. Polaris Inc. has a one year low of $30.92 and a one year high of $88.00. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.12 and a quick ratio of 0.37. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 65.07 and a beta of 1.05. The company has a 50 day simple moving average of $41.31 and a two-hundred day simple moving average of $43.20.

Polaris (NYSE:PII - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.91) by $0.01. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Polaris had a net margin of 0.58% and a return on equity of 9.26%. The firm's revenue was down 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 EPS. Research analysts forecast that Polaris Inc. will post 1.11 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date was Monday, June 2nd. Polaris's payout ratio is 372.22%.

About Polaris

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.