Group 1 Automotive, Inc. $GPI Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its position in Group 1 Automotive, Inc. (NYSE:GPI) by 2.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 302,253 shares of the company’s stock after selling 8,897 shares during the period. Geode Capital Management LLC’s holdings in Group 1 Automotive were worth $132,012,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Elequin Capital LP purchased a new stake in Group 1 Automotive in the first quarter valued at approximately $29,000. Signaturefd LLC lifted its stake in Group 1 Automotive by 90.5% during the 2nd quarter. Signaturefd LLC now owns 80 shares of the company’s stock valued at $35,000 after acquiring an additional 38 shares during the period. Assetmark Inc. boosted its holdings in shares of Group 1 Automotive by 25.8% in the 2nd quarter. Assetmark Inc. now owns 122 shares of the company’s stock valued at $53,000 after acquiring an additional 25 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Group 1 Automotive in the first quarter worth $64,000. Finally, Flaharty Asset Management LLC purchased a new position in shares of Group 1 Automotive during the first quarter worth $115,000. Institutional investors and hedge funds own 99.92% of the company’s stock.

Insider Activity

In other news, Director Lincoln Pereira sold 7,000 shares of Group 1 Automotive stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $469.34, for a total value of $3,285,380.00. Following the sale, the director owned 82,967 shares in the company, valued at $38,939,731.78. This trade represents a 7.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is currently owned by company insiders.

Group 1 Automotive Stock Performance

NYSE GPI opened at $391.54 on Thursday. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 1.09 and a beta of 0.91. The stock has a 50-day moving average of $425.09 and a 200 day moving average of $435.45. The company has a current ratio of 1.06, a quick ratio of 0.24 and a debt-to-equity ratio of 1.06. Group 1 Automotive, Inc. has a twelve month low of $355.91 and a twelve month high of $490.09.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $10.45 EPS for the quarter, missing analysts’ consensus estimates of $10.64 by ($0.19). The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Group 1 Automotive had a net margin of 1.67% and a return on equity of 18.08%. During the same quarter last year, the firm earned $9.90 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Sell-side analysts anticipate that Group 1 Automotive, Inc. will post 41 EPS for the current fiscal year.

Group 1 Automotive announced that its board has initiated a stock buyback program on Tuesday, November 11th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 10.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Group 1 Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.50 per share. The ex-dividend date is Monday, December 1st. This represents a $2.00 dividend on an annualized basis and a yield of 0.5%. Group 1 Automotive’s dividend payout ratio is currently 7.00%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup reaffirmed a “buy” rating on shares of Group 1 Automotive in a report on Thursday, September 25th. Morgan Stanley upped their target price on Group 1 Automotive from $470.00 to $485.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Wall Street Zen lowered Group 1 Automotive from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Bank of America decreased their price target on Group 1 Automotive from $560.00 to $545.00 and set a “buy” rating for the company in a report on Wednesday, September 10th. Finally, Barclays initiated coverage on shares of Group 1 Automotive in a research note on Tuesday, November 11th. They set an “overweight” rating and a $510.00 price objective on the stock. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Group 1 Automotive currently has an average rating of “Moderate Buy” and a consensus target price of $478.88.

Group 1 Automotive Company Profile

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.