ABC Arbitrage SA Takes Position in Honda Motor Co., Ltd. (NYSE:HMC)

Key Points

• ABC Arbitrage SA acquired 56,045 shares of Honda Motor Co., Ltd. in the first quarter, valued at around $1,521,000.
• Several hedge funds have significantly increased their stakes in Honda, with Bessemer Group Inc. raising its position by 460.2%.
• Honda Motor has recently seen downgrades in ratings from analysts, with Wall Street Zen lowering its rating from "hold" to "sell."

ABC Arbitrage SA bought a new stake in shares of Honda Motor Co., Ltd. (NYSE:HMC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 56,045 shares of the company's stock, valued at approximately $1,521,000.

A number of other institutional investors have also added to or reduced their stakes in HMC. LPL Financial LLC increased its position in Honda Motor by 39.5% during the 4th quarter. LPL Financial LLC now owns 78,703 shares of the company's stock valued at $2,247,000 after purchasing an additional 22,274 shares during the period. JPMorgan Chase & Co. increased its position in Honda Motor by 46.6% during the 4th quarter. JPMorgan Chase & Co. now owns 84,656 shares of the company's stock valued at $2,417,000 after purchasing an additional 26,917 shares during the period. Orion Portfolio Solutions LLC increased its position in Honda Motor by 18.1% during the 4th quarter. Orion Portfolio Solutions LLC now owns 17,346 shares of the company's stock valued at $495,000 after purchasing an additional 2,663 shares during the period. Alliancebernstein L.P. increased its position in Honda Motor by 5.9% during the 4th quarter. Alliancebernstein L.P. now owns 48,846 shares of the company's stock valued at $1,395,000 after purchasing an additional 2,717 shares during the period. Finally, National Bank of Canada FI increased its position in Honda Motor by 277.7% during the 4th quarter. National Bank of Canada FI now owns 1,809 shares of the company's stock valued at $52,000 after purchasing an additional 1,330 shares during the period. Hedge funds and other institutional investors own 5.32% of the company's stock.

Honda Motor Stock Up 3.5%

Honda Motor stock traded up $1.11 during trading hours on Friday, reaching $32.57. The stock had a trading volume of 1,242,477 shares, compared to its average volume of 1,151,597. The company has a market cap of $50.84 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 0.94 and a beta of 0.52. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.30 and a quick ratio of 1.07. The business's 50 day moving average price is $30.38 and its 200-day moving average price is $29.30. Honda Motor Co., Ltd. has a 52 week low of $23.41 and a 52 week high of $34.51.

Honda Motor (NYSE:HMC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.46. Honda Motor had a net margin of 2.95% and a return on equity of 5.03%. The firm had revenue of $36.22 billion for the quarter, compared to the consensus estimate of $36.04 billion. Sell-side analysts anticipate that Honda Motor Co., Ltd. will post 3.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on HMC shares. Sanford C. Bernstein started coverage on shares of Honda Motor in a report on Monday, April 14th. They issued a "market perform" rating for the company. Wall Street Zen upgraded shares of Honda Motor from a "sell" rating to a "hold" rating in a report on Saturday. Dbs Bank downgraded shares of Honda Motor from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Macquarie downgraded shares of Honda Motor from an "outperform" rating to a "neutral" rating in a report on Wednesday, June 25th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold".

About Honda Motor

Honda Motor Co, Ltd. develops, manufactures, and distributes motorcycles, automobiles, power, and other products in Japan, North America, Europe, Asia, and internationally. It operates through four segments: Motorcycle Business, Automobile Business, Financial Services Business, and Power Product and Other Businesses.