Wellington Management Group LLP Increases Stake in Group 1 Automotive, Inc. (NYSE:GPI)

Wellington Management Group LLP grew its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 40.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 43,350 shares of the company’s stock after purchasing an additional 12,444 shares during the quarter. Wellington Management Group LLP’s holdings in Group 1 Automotive were worth $18,271,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GPI. Franklin Resources Inc. increased its holdings in Group 1 Automotive by 2.3% in the 3rd quarter. Franklin Resources Inc. now owns 156,627 shares of the company’s stock valued at $55,701,000 after acquiring an additional 3,507 shares during the last quarter. Boston Partners increased its holdings in shares of Group 1 Automotive by 3.3% in the fourth quarter. Boston Partners now owns 74,844 shares of the company’s stock worth $31,653,000 after purchasing an additional 2,405 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Group 1 Automotive by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 154,923 shares of the company’s stock worth $65,297,000 after buying an additional 2,000 shares in the last quarter. Paradigm Asset Management Co. LLC bought a new position in Group 1 Automotive during the fourth quarter valued at approximately $295,000. Finally, Raymond James Financial Inc. purchased a new position in Group 1 Automotive during the 4th quarter valued at approximately $21,608,000. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Wall Street Analyst Weigh In

GPI has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on Group 1 Automotive in a research report on Friday, December 13th. They set a “buy” rating and a $500.00 target price for the company. Stephens reaffirmed an “equal weight” rating and set a $460.00 price target on shares of Group 1 Automotive in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Group 1 Automotive from $495.00 to $435.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $450.33.

Group 1 Automotive Stock Performance

NYSE:GPI opened at $376.33 on Wednesday. The firm has a market capitalization of $4.98 billion, a PE ratio of 10.24 and a beta of 1.05. The stock’s fifty day moving average is $432.07 and its 200 day moving average is $414.18. Group 1 Automotive, Inc. has a fifty-two week low of $262.31 and a fifty-two week high of $490.09. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 1.03.

Group 1 Automotive (NYSE:GPI) last announced its earnings results on Wednesday, January 29th. The company reported $10.02 earnings per share for the quarter, beating the consensus estimate of $8.77 by $1.25. Group 1 Automotive had a net margin of 2.47% and a return on equity of 18.09%. On average, sell-side analysts anticipate that Group 1 Automotive, Inc. will post 41 earnings per share for the current year.

Group 1 Automotive Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.00 annualized dividend and a yield of 0.53%. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.47. Group 1 Automotive’s dividend payout ratio (DPR) is presently 5.44%.

About Group 1 Automotive

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.