Harley-Davidson, Inc. $HOG Stock Position Increased by Donald Smith & CO. Inc.

Key Points

• Donald Smith & CO. Inc. increased its Harley-Davidson stake by 30.8% in the fourth quarter, buying more than 2.09 million shares and making HOG its 9th-largest holding.
• Harley-Davidson’s latest earnings showed a mixed picture: revenue beat expectations at $1.17 billion, but EPS came in below estimates at $0.22 and sales fell 11.7% year over year.
• The company declared a quarterly dividend of $0.1875 per share, implying a 3.0% annual yield, while analysts currently have a consensus Hold rating and an average price target of $24.22.

Donald Smith & CO. Inc. boosted its stake in Harley-Davidson, Inc. (NYSE:HOG - Free Report) by 30.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,899,204 shares of the company's stock after purchasing an additional 2,095,477 shares during the quarter. Harley-Davidson comprises approximately 3.4% of Donald Smith & CO. Inc.'s holdings, making the stock its 9th largest holding. Donald Smith & CO. Inc. owned 7.53% of Harley-Davidson worth $182,345,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Triumph Capital Management lifted its stake in Harley-Davidson by 4.7% in the 3rd quarter. Triumph Capital Management now owns 10,171 shares of the company's stock worth $284,000 after purchasing an additional 454 shares in the last quarter. Allworth Financial LP lifted its stake in Harley-Davidson by 13.7% in the 3rd quarter. Allworth Financial LP now owns 4,314 shares of the company's stock worth $120,000 after purchasing an additional 519 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Harley-Davidson by 139.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 944 shares of the company's stock worth $26,000 after purchasing an additional 549 shares in the last quarter. Fifth Third Bancorp lifted its stake in Harley-Davidson by 48.9% in the 4th quarter. Fifth Third Bancorp now owns 1,764 shares of the company's stock worth $36,000 after purchasing an additional 579 shares in the last quarter. Finally, Dark Forest Capital Management LP lifted its stake in Harley-Davidson by 3.4% in the 3rd quarter. Dark Forest Capital Management LP now owns 26,445 shares of the company's stock worth $738,000 after purchasing an additional 872 shares in the last quarter. Hedge funds and other institutional investors own 85.10% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on HOG shares. Weiss Ratings cut shares of Harley-Davidson from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, June 3rd. Citigroup boosted their price target on shares of Harley-Davidson from $23.00 to $26.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. UBS Group boosted their price target on shares of Harley-Davidson from $19.00 to $26.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. BMO Capital Markets reiterated an "outperform" rating and issued a $24.00 price target on shares of Harley-Davidson in a research note on Wednesday, February 11th. Finally, Morgan Stanley boosted their target price on shares of Harley-Davidson from $12.00 to $15.00 and gave the stock an "underweight" rating in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $24.22.

Insider Activity

In related news, CFO Jonathan R. Root sold 1,554 shares of the company's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $24.21, for a total transaction of $37,622.34. Following the transaction, the chief financial officer directly owned 32,508 shares in the company, valued at approximately $787,018.68. This represents a 4.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul J. Krause sold 1,564 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $26.00, for a total transaction of $40,664.00. Following the transaction, the insider owned 30,012 shares in the company, valued at $780,312. The trade was a 4.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.97% of the company's stock.

Harley-Davidson Stock Performance

Harley-Davidson stock opened at $24.62 on Thursday. The company's 50-day moving average price is $23.58 and its 200-day moving average price is $21.58. Harley-Davidson, Inc. has a twelve month low of $17.09 and a twelve month high of $31.25. The company has a quick ratio of 1.66, a current ratio of 1.91 and a debt-to-equity ratio of 0.37. The company has a market cap of $2.59 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 15.47 and a beta of 1.26.

Harley-Davidson (NYSE:HOG - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.12). Harley-Davidson had a return on equity of 7.03% and a net margin of 5.68%.The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm earned $1.07 earnings per share. The business's quarterly revenue was down 11.7% on a year-over-year basis. On average, equities research analysts forecast that Harley-Davidson, Inc. will post 0.39 EPS for the current fiscal year.

Harley-Davidson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 8th will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, June 8th. Harley-Davidson's dividend payout ratio is presently 42.61%.

About Harley-Davidson

Harley-Davidson, Inc is a renowned American motorcycle manufacturer best known for its heavyweight cruiser and touring bikes. Founded in 1903 in Milwaukee, Wisconsin, the company has built a strong reputation for producing distinctive motorcycles characterized by their signature V-twin engines, chrome finishes and robust frames. Harley-Davidson markets its products globally through a network of franchised dealerships and focuses on delivering an immersive brand experience to its customers, emphasizing lifestyle and community alongside its motorcycles.

In addition to its core motorcycle business, Harley-Davidson offers an extensive range of parts, accessories and apparel under its Genuine Motor Parts & Accessories and MotorClothes lines.

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