As of its most recent disclosure with the Securities and Exchange Commission (SEC), Wedge Capital Management L L P NC has increased its holdings in Harley-Davidson, Inc. by a staggering 882.9% during the second quarter. The firm now owns 85,592 shares of the company’s stock, after acquiring an additional 76,884 shares in that period. This represents a 0.06% ownership stake in Harley-Davidson with a value of $3,014,000.
Harley-Davidson (NYSE:HOG) recently reported its quarterly earnings results on Thursday, July 27th. The company announced earnings per share (EPS) of $1.22 for the quarter, falling short of analysts’ consensus estimates by ($0.18). Revenue for the quarter was recorded at $1.45 billion, surpassing analysts’ expectations of $1.32 billion.
Despite a decrease of 1.6% in revenue on a year-over-year basis, Harley-Davidson experienced a net margin of 13.03% and a return on equity of 26.10%. In the same quarter last year, the company posted earnings per share of $1.46.
Analysts speculate that for the current fiscal year, Harley-Davidson is estimated to post earnings per share of approximately $4.58.
Harley-Davidson is renowned for its iconic motorcycles and has become a symbol of American craftsmanship and freedom on the open road. With its rich history spanning over a century, the company has cultivated a loyal following worldwide.
The recent increase in holdings made by Wedge Capital Management L L P NC reflects their confidence in the long-term growth potential and financial stability of Harley-Davidson as an investment opportunity.
Investors and enthusiasts alike closely monitor quarterly earning reports as they provide valuable insights into the company’s financial performance and future prospects.
For individuals interested in keeping up with stock updates and market trends, it is advisable to regularly consult reputable sources such as financial analysts’ reports for a comprehensive overview of the industry. These informative resources can assist investors in making informed decisions based on reliable and expert analysis.
Whilst specific financial data remains subject to change, staying up-to-date with information regarding companies like Harley-Davidson is vital in gaining an understanding of their overall position and potential returns.
Investments in stocks carry inherent risks, and it is essential for investors to conduct thorough research and seek professional advice when considering portfolio diversification.
As always, conducting due diligence and remaining informed are key principles in successful investment strategies.
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Hedge Funds and Institutional Investors Show Interest in Harley-Davidson Despite Uncertain Future
In recent months, various hedge funds and institutional investors have been making changes to their positions in the business of Harley-Davidson. Ronald Blue Trust Inc., for instance, has increased its position in the company by 11.7% during the second quarter of this year, now owning 2,808 shares valued at $107,000. Similarly, Twelve Points Wealth Management LLC saw a 12.5% growth in their position with 31,468 shares valued at $1.1 million. Pacer Advisors Inc., Foundry Partners LLC, and 180 Wealth Advisors LLC have all acquired new stakes in Harley-Davidson as well, indicating a strong interest from institutional investors and hedge funds who now hold 82.29% of the company’s stock.
On Wednesday morning, Harley-Davidson’s stock opened at $32.19 per share. As for its financial standing, the company has a debt-to-equity ratio of 1.81 alongside a current ratio of 2.03 and a quick ratio of 1.69 – showing its ability to meet short-term obligations promptly. The stock’s 50-day moving average stands at $34.70 while its two-hundred day moving average is recorded at $35.19.
Harley-Davidson has experienced fluctuations in its stock price over the past year – ranging from a low of $30.85 to a high of $51.77 – revealing instability within the market for this particular brand. With a market capitalization value amounting to $4.56 billion and a PE ratio standing at 6.05, analysts and investors are closely observing the motorcycle manufacturer’s market performance especially given its beta value of 1.40 which indicates higher volatility compared to the overall market average.
Looking ahead to Wednesday, September 27th,the business is set to pay out quarterly dividends to its shareholders who held stocks as of Tuesday, September 12th. This dividend will amount to $0.165 per share, resulting in a dividend yield of 2.05% when measured on an annualized basis. The ex-dividend date for this payment is scheduled for Monday, September 11th. Currently, Harley-Davidson’s dividend payout ratio (DPR) stands at 12.41%.
Although the company has faced recent challenges, including decreasing target prices from UBS Group and Citigroup, some analysts have maintained a positive outlook on Harley-Davidson’s stock. Robert W. Baird even raised their price target to $50.00 per share and issued an “outperform” rating for the stock in their research report from July 28th. Likewise, DA Davidson upgraded their rating from “neutral” to “buy” and set a price target of $47.00 per share in a report published on July 21st.
Overall, Harley-Davidson continues to attract attention from institutional investors and hedge funds despite its declining stock value and uncertain future. With mixed reviews from analysts regarding its performance, shareholders must carefully assess both risks and opportunities before making any investment decisions related to this iconic motorcycle brand.
Source: Bloomberg.com
