Honda Motor Company, Ltd. (NYSE:HMC) Stake Cut by Wetherby Asset Management Inc.
Wetherby Asset Management Inc. decreased its stake in Honda Motor Company, Ltd. (NYSE:HMC) by 5.5% during the second quarter, Holdings Channel reports. The fund owned 25,428 shares of the company’s stock after selling 1,494 shares during the period. Wetherby Asset Management Inc.’s holdings in Honda Motor were worth $697,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mascoma Wealth Management LLC purchased a new position in Honda Motor during the second quarter valued at $103,000. IFP Advisors Inc raised its position in shares of Honda Motor by 2.6% in the first quarter. IFP Advisors Inc now owns 4,313 shares of the company’s stock worth $131,000 after buying an additional 108 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Honda Motor by 22.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,768 shares of the company’s stock worth $145,000 after buying an additional 883 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Honda Motor during the first quarter worth $157,000. Finally, Proficio Capital Partners LLC raised its position in shares of Honda Motor by 105.0% in the first quarter. Proficio Capital Partners LLC now owns 5,339 shares of the company’s stock worth $149,000 after buying an additional 2,735 shares during the last quarter. 2.56% of the stock is currently owned by institutional investors and hedge funds.
Honda Motor Company, Ltd. (NYSE HMC) opened at 27.56 on Friday. The company has a market cap of $49.67 billion, a price-to-earnings ratio of 8.45 and a beta of 1.01. The firm has a 50-day moving average of $27.70 and a 200-day moving average of $29.11. Honda Motor Company, Ltd. has a 52 week low of $27.05 and a 52 week high of $32.17.
Honda Motor (NYSE:HMC) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.83 by $0.21. Honda Motor had a net margin of 4.58% and a return on equity of 8.57%. The company had revenue of $3,713 billion during the quarter, compared to the consensus estimate of $3,525.55 billion. During the same quarter last year, the firm posted $96.93 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Equities analysts forecast that Honda Motor Company, Ltd. will post $2.76 earnings per share for the current year.
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A number of research analysts have weighed in on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $35.00 price target on shares of Honda Motor in a research note on Friday, May 26th. Zacks Investment Research lowered shares of Honda Motor from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. BidaskClub lowered shares of Honda Motor from a “sell” rating to a “strong sell” rating in a research note on Thursday. TheStreet raised shares of Honda Motor from a “c+” rating to a “b-” rating in a research note on Friday, April 28th. Finally, Instinet raised shares of Honda Motor from a “reduce” rating to a “neutral” rating in a research note on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Honda Motor has a consensus rating of “Hold” and a consensus target price of $33.59.
About Honda Motor
Honda Motor Co, Ltd. (Honda) develops, manufactures and markets motorcycles, automobiles and power products across the world. The Company’s segments include Motorcycle Business, Automobile business, Financial services business, and Power product and other businesses. The Company produces a range of motorcycles, with engine displacement ranging from the 50 cubic centimeters class to the 1,800 cubic centimeters class.
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