Millennium Management LLC Lowers Stake in Polaris Inc. (NYSE:PII)

Millennium Management LLC cut its stake in Polaris Inc. (NYSE:PII - Free Report) by 31.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 136,970 shares of the company's stock after selling 63,183 shares during the quarter. Millennium Management LLC owned approximately 0.25% of Polaris worth $7,892,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. MJP Associates Inc. ADV purchased a new stake in shares of Polaris during the fourth quarter worth approximately $207,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Polaris in the 4th quarter valued at $242,000. FORA Capital LLC lifted its stake in Polaris by 521.5% during the 4th quarter. FORA Capital LLC now owns 17,285 shares of the company's stock worth $996,000 after acquiring an additional 14,504 shares in the last quarter. Crestline Management LP acquired a new position in Polaris during the 4th quarter worth about $835,000. Finally, Caption Management LLC acquired a new position in Polaris during the 4th quarter worth about $563,000. 88.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on PII. Truist Financial reduced their price target on Polaris from $55.00 to $30.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. DA Davidson dropped their price target on Polaris from $69.00 to $60.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. Bank of America decreased their price objective on Polaris from $55.00 to $45.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Baird R W cut Polaris from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Roth Capital reissued a "neutral" rating on shares of Polaris in a report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $45.82.

Polaris Price Performance

Shares of NYSE PII traded down $0.15 during trading on Friday, reaching $39.74. The company had a trading volume of 717,719 shares, compared to its average volume of 1,186,865. Polaris Inc. has a twelve month low of $30.92 and a twelve month high of $88.00. The stock has a market capitalization of $2.23 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 13.95 and a beta of 1.05. The stock has a 50-day moving average price of $36.67 and a two-hundred day moving average price of $48.18. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27.

Polaris (NYSE:PII - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported ($0.90) earnings per share for the quarter, topping analysts' consensus estimates of ($0.91) by $0.01. Polaris had a return on equity of 13.78% and a net margin of 1.54%. The company had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same period in the previous year, the firm posted $0.23 earnings per share. The business's revenue for the quarter was down 11.6% compared to the same quarter last year. As a group, sell-side analysts predict that Polaris Inc. will post 1.11 earnings per share for the current year.

Polaris Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.74%. The ex-dividend date is Monday, June 2nd. Polaris's dividend payout ratio is currently 372.22%.

About Polaris

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.