Pacer Advisors Inc. Sells 3,993,449 Shares of Harley-Davidson, Inc. (NYSE:HOG)

Key Points

• Pacer Advisors Inc. reduced its stake in Harley-Davidson by 73.0%, now holding 1,474,640 shares valued at approximately $37.24 million.
• Harley-Davidson reported $1.07 earnings per share for the last quarter, beating estimates, but its revenue fell by 23.2% year-over-year.
• The company recently announced a quarterly dividend of $0.18 per share, yielding 2.93% annually.

Pacer Advisors Inc. cut its holdings in shares of Harley-Davidson, Inc. (NYSE:HOG - Free Report) by 73.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,474,640 shares of the company's stock after selling 3,993,449 shares during the quarter. Pacer Advisors Inc. owned approximately 1.19% of Harley-Davidson worth $37,235,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of HOG. Assetmark Inc. lifted its position in 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. Advisor OS LLC boosted its holdings in Harley-Davidson by 27.6% during the 1st quarter. Advisor OS LLC now owns 15,296 shares of the company's stock valued at $386,000 after acquiring an additional 3,308 shares during the period. KLP Kapitalforvaltning AS boosted its holdings in Harley-Davidson by 35.6% during the 1st quarter. KLP Kapitalforvaltning AS now owns 33,900 shares of the company's stock valued at $856,000 after acquiring an additional 8,900 shares during the period. Allianz Asset Management GmbH bought a new stake in Harley-Davidson during the 1st quarter valued at $624,000. Finally, Financial Harvest LLC bought a new position in shares of Harley-Davidson in the 1st quarter worth $30,000. Hedge funds and other institutional investors own 85.10% of the company's stock.

Harley-Davidson Stock Up 16.5%

HOG stock traded up $3.80 during midday trading on Wednesday, hitting $26.75. The company's stock had a trading volume of 7,412,285 shares, compared to its average volume of 2,196,349. The stock has a market capitalization of $3.25 billion, a P/E ratio of 10.00, a PEG ratio of 0.47 and a beta of 1.30. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.56 and a quick ratio of 1.36. The company's fifty day moving average price is $24.28 and its 200 day moving average price is $24.90. 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 issued its quarterly 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 10.72% and a net margin of 7.82%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the company earned $1.63 EPS. Harley-Davidson's quarterly revenue was down 19.3% on a year-over-year basis. As a group, equities research analysts predict that Harley-Davidson, Inc. will post 3.44 EPS for the current year.

Harley-Davidson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.72 annualized dividend and a dividend yield of 2.69%. Harley-Davidson's dividend payout ratio is presently 26.87%.

Wall Street Analysts Forecast Growth

HOG has been the subject of several recent research reports. Robert W. Baird increased their price target on Harley-Davidson from $26.00 to $28.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. UBS Group decreased 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. Citigroup increased their price target on Harley-Davidson from $24.00 to $27.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. Finally, DA Davidson reissued a "buy" rating and issued a $31.00 price objective on shares of Harley-Davidson in a research report on Wednesday, April 9th. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Harley-Davidson has a consensus rating of "Hold" and an average price target of $29.83.

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.