Jupiter Topco LLC Takes Position in Harley-Davidson, Inc. $HOG

Key Points

• Jupiter Topco LLC acquired 52,099 Harley-Davidson shares worth approximately $1.28 million in the second quarter, while institutional investors and hedge funds collectively own 85.1% of HOG.
• Harley-Davidson reported quarterly EPS of $0.75, beating estimates of $0.65, although revenue fell 5.9% year over year to $1.23 billion. The company declared a quarterly dividend of $0.1875 per share, equivalent to a 2.7% yield.
• Insider activity was mixed: a director bought 40,000 shares, while the CFO sold 1,554 shares under a pre-arranged trading plan. Analysts maintain a consensus “Hold” rating with an average price target of $27.

Jupiter Topco LLC bought a new position in shares of Harley-Davidson, Inc. (NYSE:HOG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 52,099 shares of the company's stock, valued at approximately $1,275,000. Jupiter Topco LLC owned approximately 0.05% of Harley-Davidson as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of HOG. BlackRock Inc. bought a new position in shares of Harley-Davidson during the 2nd quarter worth about $249,395,000. Donald Smith & CO. Inc. bought a new stake in Harley-Davidson in the 2nd quarter valued at about $226,966,000. Boston Partners raised its stake in Harley-Davidson by 2.1% during the 3rd quarter. Boston Partners now owns 4,021,078 shares of the company's stock worth $112,179,000 after buying an additional 84,516 shares during the period. State Street Corp raised its stake in Harley-Davidson by 1.7% during the 2nd quarter. State Street Corp now owns 3,757,709 shares of the company's stock worth $88,682,000 after buying an additional 64,118 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Harley-Davidson by 8.4% in the first quarter. Bank of New York Mellon Corp now owns 2,110,552 shares of the company's stock worth $42,675,000 after acquiring an additional 163,762 shares in the last quarter. 85.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Jonathan Root sold 1,554 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $27.46, for a total value of $42,672.84. Following the completion of the transaction, the chief financial officer directly owned 26,292 shares in the company, valued at approximately $721,978.32. This trade represents a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Nova acquired 40,000 shares of Harley-Davidson stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average cost of $24.57 per share, with a total value of $982,800.00. Following the purchase, the director owned 47,605 shares of the company's stock, valued at $1,169,654.85. This represents a 525.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 57,500 shares of company stock valued at $1,439,550 and sold 4,662 shares valued at $119,316. 0.97% of the stock is currently owned by corporate insiders.

Harley-Davidson Trading Up 2.2%

NYSE:HOG opened at $28.29 on Friday. Harley-Davidson, Inc. has a 1 year low of $17.09 and a 1 year high of $31.25. The stock's fifty day moving average price is $26.39 and its two-hundred day moving average price is $23.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.90 and a quick ratio of 1.70. The company has a market cap of $2.94 billion, a P/E ratio of 17.36, a P/E/G ratio of 9.09 and a beta of 1.29.

Harley-Davidson (NYSE:HOG - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.10. Harley-Davidson had a return on equity of 6.28% and a net margin of 4.78%.The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $0.88 EPS. The firm's revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, analysts expect that Harley-Davidson, Inc. will post 0.56 EPS for the current year.

Harley-Davidson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.1875 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.75 annualized dividend and a dividend yield of 2.7%. Harley-Davidson's dividend payout ratio is currently 46.01%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. DA Davidson upped their target price on Harley-Davidson from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Monday, August 17th. Robert W. Baird lifted their target price on Harley-Davidson from $28.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. UBS Group increased their price target on Harley-Davidson from $26.00 to $28.00 and gave the company a "neutral" rating in a research report on Wednesday. Morgan Stanley lifted their price objective on shares of Harley-Davidson from $15.00 to $17.00 and gave the stock an "underweight" rating in a report on Tuesday, July 28th. Finally, Wolfe Research restated an "outperform" rating on shares of Harley-Davidson in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $27.00.

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.

Want to see what other hedge funds are holding HOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Harley-Davidson, Inc. (NYSE:HOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.