Honda Motor Co., Ltd. $HMC Stake Lessened by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC reduced its holdings in Honda Motor Co., Ltd. by 38.7%, selling 7,528 shares and now owning 11,943 shares worth approximately $324,000.
• Other hedge funds have significantly increased their positions in Honda, including Bessemer Group with a 460.2% increase and Caitong International with a 1,166.9% increase during the same quarter.
• Analysts have varied opinions on Honda's stock, with ratings including "hold" from Wall Street Zen and a downgrade from Macquarie from "outperform" to "neutral".

Cresset Asset Management LLC cut its stake in Honda Motor Co., Ltd. (NYSE:HMC - Free Report) by 38.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,943 shares of the company's stock after selling 7,528 shares during the period. Cresset Asset Management LLC's holdings in Honda Motor were worth $324,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Equity Investment Corp boosted its position in shares of Honda Motor by 4.6% in the first quarter. Equity Investment Corp now owns 2,198,541 shares of the company's stock worth $59,646,000 after acquiring an additional 96,230 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Honda Motor by 6.9% in the fourth quarter. Bank of America Corp DE now owns 1,255,537 shares of the company's stock worth $35,846,000 after acquiring an additional 81,548 shares during the last quarter. Northern Trust Corp boosted its position in shares of Honda Motor by 69.9% in the fourth quarter. Northern Trust Corp now owns 1,099,698 shares of the company's stock worth $31,396,000 after acquiring an additional 452,624 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Honda Motor by 5.8% in the first quarter. American Century Companies Inc. now owns 529,249 shares of the company's stock worth $14,359,000 after acquiring an additional 29,152 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Honda Motor by 1.8% in the first quarter. Envestnet Asset Management Inc. now owns 417,053 shares of the company's stock worth $11,315,000 after acquiring an additional 7,305 shares during the last quarter. 5.32% of the stock is owned by institutional investors and hedge funds.

Honda Motor Stock Down 1.7%

Shares of NYSE HMC traded down $0.59 during trading on Friday, reaching $33.37. 761,111 shares of the stock were exchanged, compared to its average volume of 1,070,152. The business's 50-day moving average price is $31.61 and its 200 day moving average price is $29.84. Honda Motor Co., Ltd. has a twelve month low of $23.41 and a twelve month high of $34.70. The company has a quick ratio of 1.01, a current ratio of 1.30 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $52.09 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.13 and a beta of 0.52.

Honda Motor (NYSE:HMC - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.46. Honda Motor had a net margin of 2.95% and a return on equity of 5.03%. The business had revenue of $36.22 billion for the quarter, compared to analysts' expectations of $36.04 billion. As a group, equities analysts forecast that Honda Motor Co., Ltd. will post 3.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on HMC. Macquarie cut shares of Honda Motor from an "outperform" rating to a "neutral" rating in a research report on Wednesday, June 25th. Dbs Bank cut shares of Honda Motor from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Wall Street Zen raised shares of Honda Motor from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average 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.