Sei Investments Co. Purchases 114,441 Shares of Harley-Davidson, Inc. $HOG

Key Points

• Sei Investments doubled its Harley-Davidson stake in the first quarter, buying 114,441 additional shares to own 228,009 shares valued at approximately $4.6 million. Institutional investors collectively hold 85.1% of the company.
• Analyst sentiment remains mixed: Loop Capital upgraded HOG to “buy” with a $32 target, while other firms maintained “hold” or “underweight” ratings. The stock’s consensus rating is “Hold”, with an average price target of $26.11.
• Harley-Davidson exceeded quarterly earnings and revenue expectations, reporting EPS of $0.75 and revenue of $1.23 billion, though revenue declined 5.9% year over year. The company maintains a quarterly dividend of $0.1875 per share, equivalent to a 2.9% annual yield.

Sei Investments Co. lifted its position in shares of Harley-Davidson, Inc. (NYSE:HOG - Free Report) by 100.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 228,009 shares of the company's stock after buying an additional 114,441 shares during the period. Sei Investments Co. owned about 0.22% of Harley-Davidson worth $4,608,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of HOG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Harley-Davidson by 62.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,436 shares of the company's stock worth $2,183,000 after acquiring an additional 33,097 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Harley-Davidson by 18.3% in the first quarter. Empowered Funds LLC now owns 17,560 shares of the company's stock worth $443,000 after purchasing an additional 2,712 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Harley-Davidson by 153.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,109 shares of the company's stock valued at $53,000 after buying an additional 1,278 shares during the last quarter. Federated Hermes Inc. lifted its position in Harley-Davidson by 32.8% during the 2nd quarter. Federated Hermes Inc. now owns 16,076 shares of the company's stock worth $379,000 after buying an additional 3,967 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Harley-Davidson by 12.0% during the 2nd quarter. California Public Employees Retirement System now owns 204,156 shares of the company's stock worth $4,818,000 after buying an additional 21,913 shares during the last quarter. 85.10% of the stock is currently owned by institutional investors.

Insider Activity at Harley-Davidson

In other news, CFO Jonathan R. Root sold 1,554 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $24.88, for a total value of $38,663.52. Following the transaction, the chief financial officer owned 27,846 shares of the company's stock, valued at approximately $692,808.48. This represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel J. Nova purchased 40,000 shares of the company's stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average cost of $24.57 per share, with a total value of $982,800.00. Following the completion of the acquisition, the director owned 47,605 shares in the company, valued at $1,169,654.85. The trade was a 525.97% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 6,226 shares of company stock worth $154,930. Insiders own 0.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HOG shares. Loop Capital upgraded Harley-Davidson from a "hold" rating to a "buy" rating and set a $32.00 target price on the stock in a report on Monday, July 20th. Zacks Research raised Harley-Davidson from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. Wells Fargo & Company increased 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. Weiss Ratings raised shares of Harley-Davidson from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, June 18th. Finally, Morgan Stanley boosted their target price on shares of Harley-Davidson from $15.00 to $17.00 and gave the stock an "underweight" rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $26.11.

Harley-Davidson Stock Down 1.1%

HOG stock opened at $26.21 on Thursday. Harley-Davidson, Inc. has a 1-year low of $17.09 and a 1-year high of $31.25. The business's 50 day simple moving average is $25.40 and its 200 day simple moving average is $22.60. The company has a current ratio of 1.90, a quick ratio of 1.70 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.76 billion, a PE ratio of 16.08, a PEG ratio of 18.16 and a beta of 1.27.

Harley-Davidson (NYSE:HOG - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.10. Harley-Davidson had a return on equity of 6.28% and a net margin of 4.78%.The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm posted $0.88 EPS. The company's quarterly revenue was down 5.9% on a year-over-year basis. As a group, research analysts anticipate that Harley-Davidson, Inc. will post 0.5 EPS for the current year.

Harley-Davidson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 8th were issued a dividend of $0.1875 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.75 annualized dividend and a dividend yield of 2.9%. Harley-Davidson's payout ratio is presently 46.01%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source