Bank of New York Mellon Corp lifted its position in Group 1 Automotive, Inc. (NYSE:GPI) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 389,327 shares of the company’s stock after buying an additional 1,416 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.86% of Group 1 Automotive worth $24,527,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in GPI. Rhumbline Advisers grew its holdings in shares of Group 1 Automotive by 1.5% in the second quarter. Rhumbline Advisers now owns 51,977 shares of the company’s stock worth $3,275,000 after purchasing an additional 759 shares during the last quarter. Boston Partners lifted its stake in Group 1 Automotive by 5.0% in the second quarter. Boston Partners now owns 227,672 shares of the company’s stock worth $14,343,000 after acquiring an additional 10,768 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Group 1 Automotive in the second quarter worth $262,000. KBC Group NV lifted its stake in Group 1 Automotive by 34.1% in the second quarter. KBC Group NV now owns 7,952 shares of the company’s stock worth $501,000 after acquiring an additional 2,024 shares during the period. Finally, IndexIQ Advisors LLC lifted its stake in Group 1 Automotive by 5.7% in the second quarter. IndexIQ Advisors LLC now owns 33,476 shares of the company’s stock worth $2,109,000 after acquiring an additional 1,799 shares during the period. 99.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of GPI stock opened at $73.84 on Friday. Group 1 Automotive, Inc. has a 52 week low of $59.72 and a 52 week high of $84.47. The firm has a market capitalization of $1.48 billion, a P/E ratio of 9.61 and a beta of 1.92. The company has a quick ratio of 0.26, a current ratio of 1.07 and a debt-to-equity ratio of 1.16.
Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings results on Thursday, July 26th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.31. The company had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.92 billion. Group 1 Automotive had a return on equity of 15.73% and a net margin of 1.97%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.87 earnings per share. sell-side analysts anticipate that Group 1 Automotive, Inc. will post 8.94 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Shareholders of record on Tuesday, September 4th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.41%. The ex-dividend date is Friday, August 31st. Group 1 Automotive’s dividend payout ratio is currently 13.45%.
A number of brokerages recently commented on GPI. Zacks Investment Research raised Group 1 Automotive from a “hold” rating to a “strong-buy” rating and set a $85.00 price target for the company in a research note on Tuesday. ValuEngine lowered Group 1 Automotive from a “hold” rating to a “sell” rating in a research note on Friday, June 29th. Stephens reaffirmed a “hold” rating and issued a $95.00 price target on shares of Group 1 Automotive in a research note on Friday, July 27th. Finally, Morgan Stanley raised their price target on Group 1 Automotive from $59.00 to $64.00 and gave the stock a “sell” rating in a research note on Wednesday, August 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $85.71.
In other Group 1 Automotive news, Director Lincoln Pereira sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $79.45, for a total transaction of $1,986,250.00. Following the completion of the transaction, the director now owns 67,425 shares of the company’s stock, valued at $5,356,916.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Frank Grese sold 5,000 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $76.98, for a total value of $384,900.00. The disclosure for this sale can be found here. Insiders have sold 38,200 shares of company stock valued at $3,012,805 in the last three months. Insiders own 4.95% of the company’s stock.
Group 1 Automotive Company Profile
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. It sells new and used cars, light trucks, and vehicle parts; arranges vehicle financing; sells service and insurance contracts; and provides automotive maintenance and repair services. The company has operations primarily in the metropolitan areas of Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 28 towns in the United Kingdom; and in the metropolitan markets of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.
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