Bayforest Capital Ltd Takes $1.22 Million Position in Harley-Davidson, Inc. $HOG

Key Points

• Bayforest Capital Ltd acquired a new stake in Harley-Davidson, purchasing 51,613 shares valued at approximately $1.22 million, which represents 0.5% of its portfolio.
• Harley-Davidson's most recent earnings report showed a miss in earnings per share at $0.88, compared to the expected $0.99, and a significant 19.3% decline in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.18 per share, resulting in an annualized yield of 2.7% and a payout ratio of 37.31%.

Bayforest Capital Ltd bought a new stake in Harley-Davidson, Inc. (NYSE:HOG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 51,613 shares of the company's stock, valued at approximately $1,218,000. Harley-Davidson makes up 0.5% of Bayforest Capital Ltd's portfolio, making the stock its 13th biggest holding.

Other institutional investors have also modified their holdings of the company. Assetmark Inc. lifted its holdings in shares of Harley-Davidson by 209.7% in the 1st quarter. Assetmark Inc. now owns 1,053 shares of the company's stock valued at $27,000 after purchasing an additional 713 shares during the last quarter. CX Institutional acquired a new position in Harley-Davidson in the first quarter valued at $28,000. Financial Harvest LLC acquired a new stake in shares of Harley-Davidson in the first quarter valued at about $30,000. UMB Bank n.a. lifted its stake in shares of Harley-Davidson by 153.6% in the first quarter. UMB Bank n.a. now owns 1,306 shares of the company's stock worth $33,000 after acquiring an additional 791 shares in the last quarter. Finally, IMG Wealth Management Inc. acquired a new stake in Harley-Davidson during the first quarter valued at approximately $48,000. 85.10% of the stock is owned by institutional investors and hedge funds.

Harley-Davidson Price Performance

Shares of NYSE:HOG opened at $26.25 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 1.20 and a debt-to-equity ratio of 1.32. Harley-Davidson, Inc. has a 12 month low of $20.45 and a 12 month high of $36.94. The stock has a market cap of $3.19 billion, a P/E ratio of 13.60, a P/E/G ratio of 0.37 and a beta of 1.27. The company has a 50 day moving average of $28.10 and a 200 day moving average of $25.38.

Harley-Davidson (NYSE:HOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.88 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by ($0.11). Harley-Davidson had a return on equity of 7.43% and a net margin of 5.76%.The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the firm posted $1.63 earnings per share. The company's revenue was down 19.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Harley-Davidson, Inc. will post 3.44 EPS for the current fiscal year.

Harley-Davidson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 10th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, September 10th. Harley-Davidson's dividend payout ratio is 37.31%.

Wall Street Analyst Weigh In

HOG has been the subject of several research reports. Griffin Securities set a $34.00 price objective on Harley-Davidson in a research note on Monday, August 25th. DA Davidson boosted their price objective on shares of Harley-Davidson from $31.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. UBS Group boosted their price objective on shares of Harley-Davidson from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Thursday, October 2nd. Zacks Research raised shares of Harley-Davidson from a "strong sell" rating to a "hold" rating in a report on Monday, August 25th. Finally, Weiss Ratings upgraded shares of Harley-Davidson from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $31.00.

Insider Buying and Selling

In related news, Director Rafeh Masood acquired 2,068 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was purchased at an average cost of $24.06 per share, with a total value of $49,756.08. Following the completion of the acquisition, the director directly owned 4,705 shares of the company's stock, valued at approximately $113,202.30. This trade represents a 78.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.93% of the company's stock.

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.

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