APG Asset Management N.V. Reduces Stake in Harley-Davidson Inc (NYSE:HOG)

APG Asset Management N.V. cut its holdings in shares of Harley-Davidson Inc (NYSE:HOG) by 32.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 71,257 shares of the company’s stock after selling 34,340 shares during the quarter. APG Asset Management N.V.’s holdings in Harley-Davidson were worth $1,349,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in HOG. BlackRock Inc. boosted its holdings in shares of Harley-Davidson by 1.1% in the 1st quarter. BlackRock Inc. now owns 14,597,891 shares of the company’s stock valued at $276,340,000 after acquiring an additional 156,482 shares during the last quarter. State Street Corp lifted its holdings in shares of Harley-Davidson by 0.4% in the 1st quarter. State Street Corp now owns 7,629,911 shares of the company’s stock valued at $144,434,000 after buying an additional 27,343 shares during the period. Beutel Goodman & Co Ltd. boosted its stake in shares of Harley-Davidson by 8.9% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,518,081 shares of the company’s stock worth $168,027,000 after buying an additional 369,905 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Harley-Davidson by 6.6% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 4,260,990 shares of the company’s stock worth $158,466,000 after acquiring an additional 265,290 shares during the period. Finally, Geode Capital Management LLC raised its position in Harley-Davidson by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 2,726,357 shares of the company’s stock valued at $101,211,000 after acquiring an additional 67,834 shares in the last quarter. Institutional investors and hedge funds own 92.58% of the company’s stock.

NYSE HOG opened at $23.84 on Wednesday. The business has a fifty day moving average price of $23.53 and a 200 day moving average price of $27.36. The company has a debt-to-equity ratio of 2.67, a quick ratio of 0.95 and a current ratio of 1.09. The company has a market cap of $3.65 billion, a P/E ratio of 8.31, a P/E/G ratio of 3.24 and a beta of 1.40. Harley-Davidson Inc has a one year low of $14.31 and a one year high of $40.89.

Harley-Davidson (NYSE:HOG) last released its earnings results on Tuesday, April 28th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.10. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.04 billion. Harley-Davidson had a net margin of 6.93% and a return on equity of 24.99%. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.80 earnings per share. As a group, sell-side analysts predict that Harley-Davidson Inc will post 1.23 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 22nd were issued a $0.02 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.08 dividend on an annualized basis and a yield of 0.34%. Harley-Davidson’s payout ratio is 2.38%.

In related news, Chairman Jochen Zeitz purchased 97,850 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was acquired at an average cost of $21.26 per share, for a total transaction of $2,080,291.00. Following the completion of the transaction, the chairman now directly owns 97,850 shares of the company’s stock, valued at $2,080,291. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.86% of the company’s stock.

A number of brokerages have recently commented on HOG. BMO Capital Markets raised their price objective on shares of Harley-Davidson from $20.00 to $23.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 29th. ValuEngine upgraded shares of Harley-Davidson from a “sell” rating to a “hold” rating in a research report on Thursday, April 30th. Wolfe Research upgraded Harley-Davidson from a “peer perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a research report on Thursday, June 25th. Morgan Stanley upped their price target on Harley-Davidson from $25.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Wedbush increased their price target on Harley-Davidson from $19.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 9th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $30.08.

About Harley-Davidson

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

Further Reading: Initial Coin Offerings entail a high degree of risk

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

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