Millennium Management LLC Acquires Shares of 1,341,937 Harley-Davidson, Inc. $HOG

Key Points

• Millennium Management LLC has acquired a new stake in Harley-Davidson, purchasing 1,341,937 shares valued at approximately $33.88 million, representing around 1.10% of the company's total shares.
• Harley-Davidson reported quarterly earnings of $0.88 per share, missing expectations, with revenue of $1.31 billion, which was below the expected $1.09 billion.
• The company declared a quarterly dividend of $0.18, which will be paid to shareholders on September 24th, reflecting a 2.4% yield annually.

Millennium Management LLC acquired a new stake in shares of Harley-Davidson, Inc. (NYSE:HOG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,341,937 shares of the company's stock, valued at approximately $33,884,000. Millennium Management LLC owned approximately 1.10% of Harley-Davidson as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc grew its position in shares of Harley-Davidson by 3,514.8% during the first quarter. Versant Capital Management Inc now owns 976 shares of the company's stock valued at $25,000 after purchasing an additional 949 shares in the last quarter. Assetmark Inc. grew its position in shares of Harley-Davidson by 209.7% during the first quarter. Assetmark Inc. now owns 1,053 shares of the company's stock valued at $27,000 after purchasing an additional 713 shares in the last quarter. CX Institutional bought a new position in shares of Harley-Davidson in the 1st quarter valued at about $28,000. Financial Harvest LLC bought a new position in shares of Harley-Davidson in the 1st quarter valued at about $30,000. Finally, UMB Bank n.a. lifted its holdings in shares of Harley-Davidson by 153.6% in the 1st quarter. UMB Bank n.a. now owns 1,306 shares of the company's stock valued at $33,000 after acquiring an additional 791 shares during the last quarter. Hedge funds and other institutional investors own 85.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HOG. DA Davidson increased their price target on shares of Harley-Davidson from $31.00 to $34.00 and gave the company a "buy" rating in a report on Monday, August 25th. Citigroup increased their price target on shares of Harley-Davidson from $24.00 to $27.00 and gave the company a "neutral" rating in a report on Monday, June 16th. Zacks Research raised shares of Harley-Davidson from a "strong sell" rating to a "hold" rating in a report on Monday, August 25th. Griffin Securities set a $34.00 price target on shares of Harley-Davidson in a report on Monday, August 25th. Finally, UBS Group reduced their price objective on shares of Harley-Davidson from $28.00 to $27.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Harley-Davidson has a consensus rating of "Hold" and a consensus price target of $30.86.

Insiders Place Their Bets

In other news, Director Rafeh Masood bought 2,068 shares of the stock in a transaction on Tuesday, August 5th. The stock was bought at an average cost of $24.06 per share, for a total transaction of $49,756.08. Following the completion of the purchase, the director directly owned 4,705 shares in the company, valued at approximately $113,202.30. The trade was a 78.42% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.93% of the stock is currently owned by company insiders.

Harley-Davidson Trading Up 0.9%

Harley-Davidson stock traded up $0.27 during midday trading on Tuesday, reaching $30.15. The stock had a trading volume of 1,509,210 shares, compared to its average volume of 1,525,589. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 0.42 and a beta of 1.31. The company has a fifty day moving average of $26.68 and a 200 day moving average of $25.03. Harley-Davidson, Inc. has a 52-week low of $20.45 and a 52-week high of $39.93. The company has a quick ratio of 1.20, a current ratio of 1.37 and a debt-to-equity ratio of 1.32.

Harley-Davidson (NYSE:HOG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.88 EPS 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 company had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same period last year, the business posted $1.63 earnings per share. The business's revenue was down 19.3% compared to the same quarter last year. On average, analysts anticipate that Harley-Davidson, Inc. will post 3.44 earnings per share for the current fiscal year.

Harley-Davidson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, September 10th. Harley-Davidson's dividend payout ratio (DPR) is 37.31%.

Harley-Davidson 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.