Millennium Management LLC Invests $33.88 Million in 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 purchased a new position in shares of Harley-Davidson, Inc. (NYSE:HOG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,341,937 shares of the company's stock, valued at approximately $33,884,000. Millennium Management LLC owned 1.10% of Harley-Davidson at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Assetmark Inc. raised its position in shares of Harley-Davidson by 209.7% during the 1st quarter. Assetmark Inc. now owns 1,053 shares of the company's stock worth $27,000 after purchasing an additional 713 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Harley-Davidson by 52.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,110 shares of the company's stock valued at $53,000 after acquiring an additional 725 shares during the period. UMB Bank n.a. increased its position in 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 period. Deutsche Bank AG increased its position in Harley-Davidson by 7.8% in the 4th quarter. Deutsche Bank AG now owns 11,486 shares of the company's stock valued at $346,000 after acquiring an additional 831 shares during the period. Finally, Parallel Advisors LLC increased its position in Harley-Davidson by 35.6% in the 1st quarter. Parallel Advisors LLC now owns 3,578 shares of the company's stock valued at $90,000 after acquiring an additional 939 shares during the period. 85.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. Citigroup raised their target price on Harley-Davidson from $24.00 to $27.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. UBS Group lowered their target price on Harley-Davidson from $28.00 to $27.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 8th. DA Davidson raised their target price on Harley-Davidson from $31.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, August 25th. Zacks Research upgraded Harley-Davidson from a "strong sell" rating to a "hold" rating in a research report on Monday, August 25th. Finally, Griffin Securities set a $34.00 price target on Harley-Davidson in a research report on Monday, August 25th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Harley-Davidson has a consensus rating of "Hold" and an average target price of $30.86.

Harley-Davidson Price Performance

Shares of HOG stock traded down $0.76 during mid-day trading on Friday, hitting $29.94. 1,383,713 shares of the stock traded hands, compared to its average volume of 1,602,221. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 0.44 and a beta of 1.31. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.20 and a current ratio of 1.37. The company's 50-day simple moving average is $26.46 and its 200-day simple moving average is $24.98. Harley-Davidson, Inc. has a twelve month low of $20.45 and a twelve month high of $39.93.

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

Harley-Davidson Dividend Announcement

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

Insider Buying and Selling at Harley-Davidson

In related news, Director Rafeh Masood acquired 2,068 shares of Harley-Davidson stock in a transaction dated Tuesday, August 5th. The stock was acquired at an average cost of $24.06 per share, with a total value of $49,756.08. Following the purchase, the director directly owned 4,705 shares in the company, valued at $113,202.30. The trade was a 78.42% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.93% of the stock is currently owned by corporate insiders.

About Harley-Davidson

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.