Tabor Asset Management LP Cuts Stock Holdings in Group 1 Automotive, Inc. (NYSE:GPI)

Tabor Asset Management LP lowered its position in Group 1 Automotive, Inc. (NYSE:GPI) by 38.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,691 shares of the company’s stock after selling 4,239 shares during the quarter. Group 1 Automotive makes up about 1.3% of Tabor Asset Management LP’s holdings, making the stock its 26th largest position. Tabor Asset Management LP’s holdings in Group 1 Automotive were worth $2,820,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake in shares of Group 1 Automotive by 119.4% during the 4th quarter. Bessemer Group Inc. now owns 68 shares of the company’s stock worth $29,000 after buying an additional 37 shares in the last quarter. R Squared Ltd acquired a new position in Group 1 Automotive during the fourth quarter worth $30,000. Avior Wealth Management LLC raised its position in Group 1 Automotive by 25.6% in the fourth quarter. Avior Wealth Management LLC now owns 152 shares of the company’s stock worth $64,000 after acquiring an additional 31 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Group 1 Automotive in the fourth quarter valued at $66,000. Finally, Global Retirement Partners LLC boosted its position in shares of Group 1 Automotive by 59.3% during the 4th quarter. Global Retirement Partners LLC now owns 188 shares of the company’s stock worth $79,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Guggenheim cut shares of Group 1 Automotive from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 14th. Stephens reaffirmed an “equal weight” rating and set a $460.00 price objective on shares of Group 1 Automotive in a report on Thursday, January 30th. JPMorgan Chase & Co. lowered their target price on Group 1 Automotive from $495.00 to $435.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Finally, Citigroup raised their price target on Group 1 Automotive from $463.00 to $495.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $454.43.

Insiders Place Their Bets

In other Group 1 Automotive news, VP Michael David Jones sold 1,613 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $405.57, for a total transaction of $654,184.41. Following the transaction, the vice president now owns 8,260 shares of the company’s stock, valued at $3,350,008.20. This represents a 16.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.10% of the stock is owned by corporate insiders.

Group 1 Automotive Price Performance

GPI stock opened at $444.14 on Monday. The stock’s 50 day moving average price is $404.29 and its 200 day moving average price is $423.91. The firm has a market cap of $5.74 billion, a P/E ratio of 12.09 and a beta of 0.94. 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, Inc. has a 1 year low of $279.86 and a 1 year high of $490.09.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data on Thursday, April 24th. The company reported $10.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.68 by $0.49. The business had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.37 billion. Group 1 Automotive had a return on equity of 18.09% and a net margin of 2.47%. The business’s revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the business earned $9.49 earnings per share. On average, sell-side analysts expect that Group 1 Automotive, Inc. will post 41 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 0.45%. Group 1 Automotive’s dividend payout ratio (DPR) is 5.61%.

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.