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

Cornercap Investment Counsel Inc. acquired a new stake in Harley-Davidson, Inc. (NYSE:HOG) in the 2nd quarter, Holdings Channel reports. The fund acquired 15,137 shares of the company’s stock, valued at approximately $508,000.

A number of other institutional investors also recently bought and sold shares of HOG. Quadrant Capital Group LLC raised its holdings in shares of Harley-Davidson by 95.0% in the fourth quarter. Quadrant Capital Group LLC now owns 788 shares of the company’s stock worth $29,000 after buying an additional 384 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Harley-Davidson in the 4th quarter valued at $38,000. Future Financial Wealth Managment LLC purchased a new position in Harley-Davidson in the 1st quarter worth $39,000. Neo Ivy Capital Management acquired a new stake in Harley-Davidson during the 4th quarter worth about $50,000. Finally, American National Bank purchased a new stake in Harley-Davidson during the 1st quarter valued at about $52,000. 85.10% of the stock is currently owned by institutional investors and hedge funds.

Harley-Davidson Price Performance

Shares of NYSE HOG opened at $37.74 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.50 and a quick ratio of 1.32. The firm’s 50 day simple moving average is $36.07 and its 200-day simple moving average is $36.74. Harley-Davidson, Inc. has a 12 month low of $25.43 and a 12 month high of $44.16. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 1.28 and a beta of 1.44.

Harley-Davidson (NYSE:HOG) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.40 by $0.23. Harley-Davidson had a net margin of 11.92% and a return on equity of 20.33%. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the business earned $1.22 earnings per share. The firm’s revenue was up 12.0% on a year-over-year basis. Analysts expect that Harley-Davidson, Inc. will post 4.32 EPS for the current year.

Harley-Davidson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be issued a $0.1725 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.69 dividend on an annualized basis and a yield of 1.83%. Harley-Davidson’s payout ratio is 15.33%.

Harley-Davidson announced that its board has approved a share buyback plan on Thursday, July 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 19.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

HOG has been the subject of several research analyst reports. Robert W. Baird raised their price objective on Harley-Davidson from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. UBS Group raised 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. Finally, Citigroup dropped their price objective on shares of Harley-Davidson from $36.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, June 12th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.29.

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.