Novare Capital Management LLC Has $500,000 Position in Polaris Inc. (NYSE:PII)

Novare Capital Management LLC reduced its holdings in Polaris Inc. (NYSE:PII - Free Report) by 92.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,385 shares of the company's stock after selling 80,934 shares during the quarter. Novare Capital Management LLC's holdings in Polaris were worth $500,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in shares of Polaris by 10,524.7% during the 4th quarter. International Assets Investment Management LLC now owns 61,411 shares of the company's stock worth $5,820,000 after buying an additional 60,833 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Polaris by 19.0% during the fourth quarter. Victory Capital Management Inc. now owns 11,686 shares of the company's stock worth $1,107,000 after purchasing an additional 1,865 shares in the last quarter. New York Life Investment Management LLC lifted its position in Polaris by 2.8% in the fourth quarter. New York Life Investment Management LLC now owns 6,088 shares of the company's stock worth $577,000 after purchasing an additional 167 shares during the period. LSV Asset Management boosted its stake in Polaris by 190.3% during the 4th quarter. LSV Asset Management now owns 261,872 shares of the company's stock valued at $24,818,000 after purchasing an additional 171,672 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Polaris by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 358,306 shares of the company's stock valued at $33,957,000 after purchasing an additional 10,745 shares during the period. Institutional investors own 88.06% of the company's stock.

Polaris Stock Down 2.6 %

Shares of Polaris stock traded down $2.18 during midday trading on Tuesday, hitting $82.47. The company's stock had a trading volume of 412,874 shares, compared to its average volume of 755,629. The firm has a market capitalization of $4.60 billion, a P/E ratio of 12.24, a PEG ratio of 7.52 and a beta of 1.51. Polaris Inc. has a 1-year low of $71.90 and a 1-year high of $113.28. The company has a quick ratio of 0.40, a current ratio of 1.42 and a debt-to-equity ratio of 1.56. The stock has a 50-day simple moving average of $80.52 and a 200-day simple moving average of $85.21.

Polaris (NYSE:PII - Get Free Report) last released its earnings results on Tuesday, July 23rd. The company reported $1.38 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.89). The business had revenue of $1.96 billion for the quarter, compared to analysts' expectations of $2.18 billion. Polaris had a net margin of 3.98% and a return on equity of 26.38%. The company's revenue was down 11.5% compared to the same quarter last year. During the same period last year, the firm earned $2.42 EPS. As a group, sell-side analysts expect that Polaris Inc. will post 3.79 earnings per share for the current year.

Polaris Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, September 3rd. Polaris's dividend payout ratio (DPR) is currently 38.71%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PII. BMO Capital Markets cut their price objective on Polaris from $90.00 to $75.00 and set a "market perform" rating for the company in a report on Wednesday, July 24th. StockNews.com lowered shares of Polaris from a "hold" rating to a "sell" rating in a research report on Thursday, August 22nd. KeyCorp dropped their target price on shares of Polaris from $105.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, July 24th. DA Davidson raised shares of Polaris from a "neutral" rating to a "buy" rating and set a $87.00 target price for the company in a research note on Thursday, July 25th. Finally, Roth Mkm decreased their price target on shares of Polaris from $92.00 to $79.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $89.18.

About Polaris

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.