Cornercap Investment Counsel Inc. Makes New $508,000 Investment in Harley-Davidson, Inc. (NYSE:HOG)

Cornercap Investment Counsel Inc. bought a new stake in shares of Harley-Davidson, Inc. (NYSE:HOG) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 15,137 shares of the company’s stock, valued at approximately $508,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of HOG. GAMMA Investing LLC boosted its holdings in Harley-Davidson by 19.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,008 shares of the company’s stock valued at $67,000 after acquiring an additional 320 shares during the period. Fifth Third Bancorp grew its holdings in shares of Harley-Davidson by 19.5% in the second quarter. Fifth Third Bancorp now owns 1,970 shares of the company’s stock worth $66,000 after purchasing an additional 322 shares during the last quarter. Toronto Dominion Bank increased its stake in Harley-Davidson by 0.7% in the 1st quarter. Toronto Dominion Bank now owns 51,975 shares of the company’s stock worth $2,273,000 after buying an additional 345 shares during the period. US Bancorp DE lifted its holdings in Harley-Davidson by 2.2% during the 4th quarter. US Bancorp DE now owns 16,023 shares of the company’s stock valued at $590,000 after buying an additional 346 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in Harley-Davidson by 22.3% in the 4th quarter. National Bank of Canada FI now owns 2,054 shares of the company’s stock valued at $74,000 after buying an additional 374 shares during the period. 85.10% of the stock is currently owned by hedge funds and other institutional investors.

Harley-Davidson Trading Up 6.4 %

HOG opened at $37.74 on Friday. Harley-Davidson, Inc. has a 12 month low of $25.43 and a 12 month high of $44.16. The stock has a fifty day moving average price of $36.07 and a 200-day moving average price of $36.74. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 1.28 and a beta of 1.44. 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 (NYSE:HOG) last announced its earnings results on Thursday, July 25th. The company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.23. Harley-Davidson had a net margin of 11.92% and a return on equity of 20.33%. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the company posted $1.22 earnings per share. The firm’s revenue was up 12.0% on a year-over-year basis. As a group, equities research analysts anticipate that Harley-Davidson, Inc. will post 4.32 earnings per share for the current fiscal year.

Harley-Davidson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be paid a $0.1725 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.69 annualized dividend and a yield of 1.83%. Harley-Davidson’s dividend payout ratio (DPR) is 15.33%.

Harley-Davidson announced that its Board of Directors has approved a stock repurchase plan on Thursday, July 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 19.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

HOG has been the subject of several research analyst reports. Citigroup decreased 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 note on Wednesday, June 12th. Robert W. Baird upped their target price on Harley-Davidson from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, UBS Group raised their price target on Harley-Davidson from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Harley-Davidson currently has an average rating of “Moderate Buy” and an average price target of $45.29.

About Harley-Davidson

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.