Money Concepts Capital Corp Purchases New Holdings in Harley-Davidson, Inc. $HOG

Key Points

• Money Concepts Capital Corp opened a new position in Harley-Davidson during the fourth quarter, buying 64,299 shares worth about $1.3 million.
• Harley-Davidson reported Q1 earnings that missed EPS estimates at $0.22 versus $0.34 expected, even though revenue came in above forecasts at $1.17 billion. Revenue was still down 11.7% year over year.
• The company raised its quarterly dividend to $0.1875 per share, giving the stock an annualized yield of about 2.9%.

Money Concepts Capital Corp purchased a new stake in shares of Harley-Davidson, Inc. (NYSE:HOG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 64,299 shares of the company's stock, valued at approximately $1,317,000. Money Concepts Capital Corp owned 0.05% of Harley-Davidson as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Harley-Davidson by 7.3% during the third quarter. Vanguard Group Inc. now owns 12,958,561 shares of the company's stock valued at $361,544,000 after acquiring an additional 886,998 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Harley-Davidson by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 6,597,336 shares of the company's stock valued at $184,072,000 after purchasing an additional 28,828 shares in the last quarter. Boston Partners boosted its holdings in Harley-Davidson by 2.1% during the third quarter. Boston Partners now owns 4,021,078 shares of the company's stock valued at $112,179,000 after purchasing an additional 84,516 shares in the last quarter. American Century Companies Inc. boosted its holdings in Harley-Davidson by 1.6% during the third quarter. American Century Companies Inc. now owns 3,946,754 shares of the company's stock valued at $110,114,000 after purchasing an additional 62,647 shares in the last quarter. Finally, State Street Corp boosted its holdings in Harley-Davidson by 1.7% during the second quarter. State Street Corp now owns 3,757,709 shares of the company's stock valued at $88,682,000 after purchasing an additional 64,118 shares in the last quarter. 85.10% of the stock is currently owned by institutional investors.

Harley-Davidson Stock Up 1.2%

Shares of HOG opened at $25.62 on Thursday. The company has a market capitalization of $2.70 billion, a P/E ratio of 14.56, a PEG ratio of 9.46 and a beta of 1.27. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.91 and a quick ratio of 1.66. Harley-Davidson, Inc. has a one year low of $17.09 and a one year high of $31.25. The business's 50 day simple moving average is $21.23 and its 200-day simple moving average is $21.75.

Harley-Davidson (NYSE:HOG - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.12). The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.01 billion. Harley-Davidson had a return on equity of 7.03% and a net margin of 5.68%.The firm's revenue was down 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 earnings per share. As a group, sell-side analysts predict that Harley-Davidson, Inc. will post 0.63 EPS for the current fiscal year.

Harley-Davidson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Monday, March 2nd were given a $0.1875 dividend. This is a boost from Harley-Davidson's previous quarterly dividend of $0.18. The ex-dividend date was Monday, March 2nd. This represents a $0.75 annualized dividend and a yield of 2.9%. Harley-Davidson's dividend payout ratio is presently 42.61%.

Insider Buying and Selling

In related news, Director Rafeh Masood acquired 2,775 shares of the company's stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average price of $18.00 per share, for a total transaction of $49,950.00. Following the transaction, the director directly owned 7,480 shares of the company's stock, valued at approximately $134,640. This trade represents a 58.98% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul J. Krause sold 1,564 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $26.00, for a total transaction of $40,664.00. Following the completion of the transaction, the insider owned 30,012 shares of the company's stock, valued at $780,312. This trade represents a 4.95% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Argus raised Harley-Davidson to a "strong-buy" rating in a report on Tuesday, February 17th. BMO Capital Markets reaffirmed an "outperform" rating and set a $24.00 price objective on shares of Harley-Davidson in a report on Wednesday, February 11th. Wells Fargo & Company lifted their price objective on Harley-Davidson from $15.00 to $19.00 and gave the company an "underweight" rating in a report on Wednesday, May 6th. UBS Group lifted their price objective on Harley-Davidson from $19.00 to $26.00 and gave the company a "neutral" rating in a report on Monday. Finally, Zacks Research raised Harley-Davidson from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $23.89.

Harley-Davidson Profile

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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