Cribstone Capital Management LLC Cuts Holdings in Harley-Davidson Inc (HOG)
Cribstone Capital Management LLC lowered its holdings in shares of Harley-Davidson Inc (NYSE:HOG) by 38.5% in the first quarter, Holdings Channel reports. The fund owned 1,600 shares of the company’s stock after selling 1,000 shares during the quarter. Cribstone Capital Management LLC’s holdings in Harley-Davidson were worth $57,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in HOG. Bank of New York Mellon Corp grew its stake in Harley-Davidson by 24.0% during the third quarter. Bank of New York Mellon Corp now owns 7,066,507 shares of the company’s stock worth $320,112,000 after buying an additional 1,366,599 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Harley-Davidson by 18.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,710,840 shares of the company’s stock worth $77,498,000 after purchasing an additional 270,535 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Harley-Davidson by 31.4% during the third quarter. Franklin Resources Inc. now owns 7,115 shares of the company’s stock worth $323,000 after purchasing an additional 1,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Harley-Davidson during the third quarter worth $221,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Harley-Davidson during the third quarter worth $5,472,000. Institutional investors own 90.81% of the company’s stock.
A number of research firms have recently commented on HOG. Zacks Investment Research raised shares of Harley-Davidson from a “sell” rating to a “hold” rating in a research report on Thursday, January 31st. ValuEngine raised shares of Harley-Davidson from a “strong sell” rating to a “sell” rating in a research report on Monday, February 4th. Wells Fargo & Co reduced their target price on shares of Harley-Davidson from $46.00 to $40.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 18th. KeyCorp reissued a “hold” rating on shares of Harley-Davidson in a research report on Friday, February 22nd. Finally, Robert W. Baird reduced their target price on shares of Harley-Davidson from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, December 13th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $43.46.
Harley-Davidson (NYSE:HOG) last posted its quarterly earnings results on Tuesday, January 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.16). The company had revenue of $955.63 billion during the quarter, compared to analyst estimates of $1.05 billion. Harley-Davidson had a net margin of 9.30% and a return on equity of 30.76%. The company’s revenue was up 91173.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 earnings per share. On average, equities research analysts forecast that Harley-Davidson Inc will post 3.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.81%. This is a boost from Harley-Davidson’s previous quarterly dividend of $0.37. The ex-dividend date was Wednesday, March 13th. Harley-Davidson’s dividend payout ratio is 39.68%.
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Harley-Davidson Company Profile
Harley-Davidson, Inc primarily manufactures and sells cruiser and touring motorcycles. The company operates in two segments, Motorcycles & Related Products, and Financial Services. The Motorcycles & Related Products segment designs, manufactures, and sells at wholesale on-road Harley-Davidson motorcycles, as well as motorcycle parts, accessories, general merchandise, and related services.
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