Group 1 Automotive, Inc. (NYSE:GPI) announced a quarterly dividend on Thursday, February 15th, RTT News reports. Stockholders of record on Thursday, March 1st will be given a dividend of 0.26 per share on Thursday, March 15th. This represents a $1.04 annualized dividend and a dividend yield of 1.36%. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.25.
Group 1 Automotive has raised its dividend by an average of 11.5% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Group 1 Automotive has a payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Group 1 Automotive to earn $9.04 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 11.1%.
Shares of Group 1 Automotive (GPI) opened at $76.54 on Thursday. Group 1 Automotive has a 12-month low of $51.62 and a 12-month high of $84.47. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.06 and a quick ratio of 0.26. The company has a market cap of $1,568.81, a PE ratio of 9.72, a PEG ratio of 1.22 and a beta of 1.70.
In related news, CFO John C. Rickel sold 10,000 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $81.00, for a total value of $810,000.00. Following the completion of the transaction, the chief financial officer now directly owns 123,470 shares in the company, valued at approximately $10,001,070. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Earl J. Hesterberg sold 10,640 shares of the stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $74.44, for a total transaction of $792,041.60. Following the completion of the transaction, the chief executive officer now owns 165,010 shares of the company’s stock, valued at $12,283,344.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 167,398 shares of company stock valued at $12,974,458. 6.08% of the stock is owned by company insiders.
GPI has been the subject of several research analyst reports. Zacks Investment Research raised shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Wells Fargo & Co raised their target price on shares of Group 1 Automotive from $65.00 to $85.00 and gave the stock a “market perform” rating in a research report on Monday, October 30th. Buckingham Research raised shares of Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $89.00 target price for the company in a research report on Friday, January 5th. Finally, Bank of America raised their target price on shares of Group 1 Automotive from $103.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $86.00.
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About Group 1 Automotive
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.
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