Bank of New York Mellon Corp Sells 46,750 Shares of Harley-Davidson, Inc. (NYSE:HOG)

Bank of New York Mellon Corp lowered its stake in shares of Harley-Davidson, Inc. (NYSE:HOG) by 3.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,438,998 shares of the company’s stock after selling 46,750 shares during the period. Bank of New York Mellon Corp owned approximately 1.07% of Harley-Davidson worth $48,264,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Fifth Third Bancorp raised its position in shares of Harley-Davidson by 19.5% during the second quarter. Fifth Third Bancorp now owns 1,970 shares of the company’s stock valued at $66,000 after buying an additional 322 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Harley-Davidson during the second quarter valued at about $139,000. Raymond James & Associates raised its position in shares of Harley-Davidson by 4.6% during the second quarter. Raymond James & Associates now owns 616,275 shares of the company’s stock valued at $20,670,000 after buying an additional 27,364 shares during the last quarter. Wedge Capital Management L L P NC raised its position in shares of Harley-Davidson by 7.7% during the second quarter. Wedge Capital Management L L P NC now owns 57,079 shares of the company’s stock valued at $1,914,000 after buying an additional 4,102 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Harley-Davidson by 14.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 18,198 shares of the company’s stock valued at $610,000 after buying an additional 2,352 shares during the last quarter. Institutional investors and hedge funds own 85.10% of the company’s stock.

Wall Street Analysts Forecast Growth

HOG has been the subject of several recent research reports. Robert W. Baird increased their price target on shares of Harley-Davidson from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Citigroup dropped their price target on shares of Harley-Davidson from $36.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, June 12th. Finally, UBS Group increased their price target on shares of Harley-Davidson from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Harley-Davidson presently has a consensus rating of “Moderate Buy” and an average target price of $45.29.

Harley-Davidson Stock Performance

NYSE HOG opened at $37.44 on Monday. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 1.36 and a beta of 1.46. The company has a 50 day moving average of $35.33 and a 200-day moving average of $36.79. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44. Harley-Davidson, Inc. has a 1-year low of $25.43 and a 1-year high of $44.16.

Harley-Davidson (NYSE:HOG) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.23. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.29 billion. Harley-Davidson had a net margin of 11.92% and a return on equity of 20.33%. The company’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $1.22 earnings per share. On average, equities analysts forecast that Harley-Davidson, Inc. will post 4.32 earnings per share for the current fiscal year.

Harley-Davidson announced that its board has authorized a stock buyback program on Thursday, July 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 19.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Harley-Davidson 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.