Kennedy Capital Management LLC lifted its position in Polaris Inc. (NYSE:PII – Free Report) by 20.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 193,398 shares of the company’s stock after purchasing an additional 32,215 shares during the quarter. Kennedy Capital Management LLC’s holdings in Polaris were worth $12,232,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in PII. Goldman Sachs Group Inc. increased its stake in Polaris by 677.2% during the first quarter. Goldman Sachs Group Inc. now owns 544,295 shares of the company’s stock worth $22,283,000 after acquiring an additional 474,259 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Polaris by 27.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 183,289 shares of the company’s stock worth $7,504,000 after acquiring an additional 39,584 shares during the last quarter. Cetera Investment Advisers increased its stake in Polaris by 65.4% during the second quarter. Cetera Investment Advisers now owns 16,376 shares of the company’s stock worth $666,000 after acquiring an additional 6,475 shares during the last quarter. Prudential Financial Inc. increased its stake in Polaris by 17.8% during the second quarter. Prudential Financial Inc. now owns 8,347 shares of the company’s stock worth $339,000 after acquiring an additional 1,259 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Polaris by 43.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,449 shares of the company’s stock worth $140,000 after acquiring an additional 1,037 shares during the last quarter. 88.06% of the stock is owned by institutional investors.
Polaris Stock Up 0.0%
Shares of NYSE PII opened at $70.97 on Monday. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.48 and a current ratio of 1.21. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of -9.05 and a beta of 1.26. The stock has a 50 day moving average price of $63.24 and a 200 day moving average price of $63.70. Polaris Inc. has a 52-week low of $38.42 and a 52-week high of $75.25.
Polaris Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.68 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.8%. Polaris’s payout ratio is presently -34.69%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on PII shares. Zacks Research cut Polaris from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 20th. Raymond James Financial reissued an “outperform” rating on shares of Polaris in a research note on Wednesday, April 29th. Robert W. Baird boosted their price objective on Polaris from $67.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Citigroup boosted their price objective on Polaris from $58.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Finally, Wells Fargo & Company boosted their target price on Polaris from $52.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $64.44.
Read Our Latest Analysis on PII
About Polaris
Polaris Inc, founded in 1954 and headquartered in Medina, Minnesota, is a diversified manufacturer of powersports vehicles and related products. Initially gaining prominence with its snowmobiles, Polaris expanded its portfolio over the decades to include all-terrain vehicles (ATVs), side-by-side off-road vehicles, and motorcycles. The company’s legacy in recreational and utility vehicle innovation stems from early engineering breakthroughs that established Polaris as a leading name in off-road mobility.
Today, Polaris offers a broad range of products under well-known brands such as Polaris RANGER and POLARIS SPORTSMAN for utility and recreation markets, Slingshot three-wheel roadsters for on-road enthusiasts, and the Indian Motorcycle brand for premium two-wheeled touring and cruiser segments.
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