Wedge Capital Management L L P NC Reduces Stock Holdings in Harley-Davidson, Inc. (NYSE:HOG)

Wedge Capital Management L L P NC trimmed its holdings in shares of Harley-Davidson, Inc. (NYSE:HOGGet Rating) by 9.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,868 shares of the company’s stock after selling 750 shares during the period. Wedge Capital Management L L P NC’s holdings in Harley-Davidson were worth $217,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HOG. Lazard Asset Management LLC purchased a new position in Harley-Davidson during the 1st quarter worth $31,000. Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in Harley-Davidson during the 1st quarter worth $39,000. Tradition Wealth Management LLC grew its stake in Harley-Davidson by 120.8% during the 1st quarter. Tradition Wealth Management LLC now owns 1,340 shares of the company’s stock valued at $53,000 after purchasing an additional 733 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in Harley-Davidson by 1,144.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 1,381 shares of the company’s stock valued at $54,000 after purchasing an additional 1,270 shares during the last quarter. Finally, Covestor Ltd grew its stake in Harley-Davidson by 74.7% during the 1st quarter. Covestor Ltd now owns 1,660 shares of the company’s stock valued at $65,000 after purchasing an additional 710 shares during the last quarter. 87.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Rafeh Masood bought 1,335 shares of Harley-Davidson stock in a transaction on Tuesday, August 9th. The stock was acquired at an average price of $37.50 per share, with a total value of $50,062.50. Following the completion of the acquisition, the director now directly owns 1,335 shares of the company’s stock, valued at $50,062.50. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.62% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on HOG shares. Bank of America dropped their price target on Harley-Davidson from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Morgan Stanley dropped their price target on Harley-Davidson from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 14th. DA Davidson boosted their price target on Harley-Davidson to $36.00 in a research note on Tuesday, August 9th. Finally, StockNews.com downgraded Harley-Davidson from a “buy” rating to a “hold” rating in a research note on Saturday, August 6th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $47.29.

Harley-Davidson Stock Performance

NYSE HOG opened at $40.10 on Thursday. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 0.88 and a beta of 1.31. Harley-Davidson, Inc. has a twelve month low of $29.80 and a twelve month high of $44.46. The company has a current ratio of 1.44, a quick ratio of 1.25 and a debt-to-equity ratio of 1.97. The stock has a 50-day moving average of $38.50 and a 200 day moving average of $36.82.

Harley-Davidson (NYSE:HOGGet Rating) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.21. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Harley-Davidson had a return on equity of 25.73% and a net margin of 12.11%. Harley-Davidson’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 EPS. Sell-side analysts anticipate that Harley-Davidson, Inc. will post 4.53 EPS for the current fiscal year.

Harley-Davidson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Monday, September 12th will be issued a $0.1575 dividend. This is a boost from Harley-Davidson’s previous quarterly dividend of $0.16. The ex-dividend date is Friday, September 9th. This represents a $0.63 dividend on an annualized basis and a yield of 1.57%. Harley-Davidson’s dividend payout ratio is presently 15.37%.

Harley-Davidson Company Profile

(Get Rating)

Harley-Davidson, Inc manufactures and sells motorcycles. The company operates in two segments, Motorcycles and Related Products and Financial Services. The Motorcycles and Related Products segment designs, manufactures, and sells Harley-Davidson motorcycles, including cruiser, touring, standard, sportbike, and dual models, as well as motorcycle parts, accessories, apparel, and related services.

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Institutional Ownership by Quarter for Harley-Davidson (NYSE:HOG)

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