Bayforest Capital Ltd Makes New Investment in Harley-Davidson, Inc. $HOG

Bayforest Capital Ltd bought a new position in shares of Harley-Davidson, Inc. (NYSE:HOG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 51,613 shares of the company’s stock, valued at approximately $1,218,000. Harley-Davidson comprises 0.5% of Bayforest Capital Ltd’s portfolio, making the stock its 13th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in HOG. Wealth Enhancement Advisory Services LLC grew its holdings in Harley-Davidson by 3.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,129 shares of the company’s stock worth $412,000 after acquiring an additional 607 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Harley-Davidson by 209.7% during the 1st 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. Mirae Asset Global Investments Co. Ltd. grew its stake in Harley-Davidson by 52.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,110 shares of the company’s stock valued at $53,000 after acquiring an additional 725 shares during the period. UMB Bank n.a. boosted its stake in Harley-Davidson by 153.6% during the 1st quarter. UMB Bank n.a. now owns 1,306 shares of the company’s stock worth $33,000 after purchasing an additional 791 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Harley-Davidson by 1.4% during the 1st quarter. New York State Common Retirement Fund now owns 74,409 shares of the company’s stock valued at $1,879,000 after acquiring an additional 1,058 shares during the last quarter. Hedge funds and other institutional investors own 85.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on HOG shares. Weiss Ratings raised Harley-Davidson from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Zacks Research raised Harley-Davidson from a “strong sell” rating to a “hold” rating in a research note on Monday, August 25th. Griffin Securities set a $34.00 price target on Harley-Davidson in a research report on Monday, August 25th. UBS Group boosted their price target on Harley-Davidson from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Finally, Citigroup raised their target price on Harley-Davidson from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.00.

Harley-Davidson Stock Performance

HOG opened at $26.25 on Tuesday. Harley-Davidson, Inc. has a 52-week low of $20.45 and a 52-week high of $36.94. The firm has a market capitalization of $3.19 billion, a PE ratio of 13.60, a PEG ratio of 0.37 and a beta of 1.27. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.20 and a current ratio of 1.37. The business’s 50-day simple moving average is $28.10 and its 200 day simple moving average is $25.38.

Harley-Davidson (NYSE:HOG) last posted its earnings results on Wednesday, July 30th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.11). The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.09 billion. Harley-Davidson had a net margin of 5.76% and a return on equity of 7.43%. Harley-Davidson’s revenue for the quarter was down 19.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.63 EPS. As a group, sell-side analysts expect that Harley-Davidson, Inc. will post 3.44 earnings per share for the current fiscal year.

Harley-Davidson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th were paid a dividend of $0.18 per share. The ex-dividend date was Wednesday, September 10th. This represents a $0.72 dividend on an annualized basis and a yield of 2.7%. Harley-Davidson’s payout ratio is 37.31%.

Insider Activity at Harley-Davidson

In other news, Director Rafeh Masood bought 2,068 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were purchased at an average price of $24.06 per share, with a total value of $49,756.08. Following the transaction, the director directly owned 4,705 shares in the company, valued at $113,202.30. This represents a 78.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.93% of the stock is currently owned by corporate insiders.

Harley-Davidson Company Profile

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.