Geode Capital Management LLC Sells 5,948 Shares of Group 1 Automotive, Inc. $GPI

Geode Capital Management LLC trimmed its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 298,053 shares of the company’s stock after selling 5,948 shares during the quarter. Geode Capital Management LLC owned 2.36% of Group 1 Automotive worth $117,243,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC lifted its position in shares of Group 1 Automotive by 54.9% in the 4th quarter. Signaturefd LLC now owns 79 shares of the company’s stock worth $31,000 after purchasing an additional 28 shares during the period. First Horizon Corp lifted its position in shares of Group 1 Automotive by 881.8% in the 4th quarter. First Horizon Corp now owns 108 shares of the company’s stock worth $42,000 after purchasing an additional 97 shares during the period. Torren Management LLC acquired a new position in shares of Group 1 Automotive in the 4th quarter worth approximately $43,000. Assetmark Inc. lifted its position in shares of Group 1 Automotive by 40.5% in the 4th quarter. Assetmark Inc. now owns 118 shares of the company’s stock worth $46,000 after purchasing an additional 34 shares during the period. Finally, Johnson Financial Group Inc. acquired a new position in shares of Group 1 Automotive in the 3rd quarter worth approximately $55,000. Institutional investors and hedge funds own 99.92% of the company’s stock.

Group 1 Automotive Stock Up 2.0%

Group 1 Automotive stock opened at $311.66 on Friday. The company has a quick ratio of 0.21, a current ratio of 0.95 and a debt-to-equity ratio of 1.00. Group 1 Automotive, Inc. has a 12-month low of $292.44 and a 12-month high of $488.39. The firm’s fifty day moving average is $331.57 and its 200 day moving average is $356.63. The company has a market capitalization of $3.71 billion, a PE ratio of 11.90, a PEG ratio of 0.70 and a beta of 0.81.

Group 1 Automotive (NYSE:GPI) last released its earnings results on Thursday, April 30th. The company reported $8.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.82 by ($0.16). Group 1 Automotive had a net margin of 1.46% and a return on equity of 16.63%. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the previous year, the firm earned $10.17 EPS. The firm’s revenue was down 1.8% on a year-over-year basis. As a group, sell-side analysts predict that Group 1 Automotive, Inc. will post 42.37 EPS for the current fiscal year.

Group 1 Automotive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, June 1st. Group 1 Automotive’s payout ratio is presently 8.40%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Group 1 Automotive from $460.00 to $400.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. Citigroup boosted their price target on shares of Group 1 Automotive from $420.00 to $462.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. UBS Group assumed coverage on shares of Group 1 Automotive in a research report on Wednesday, May 27th. They issued a “neutral” rating and a $338.00 price target on the stock. Bank of America assumed coverage on shares of Group 1 Automotive in a research report on Wednesday, March 4th. They issued a “buy” rating on the stock. Finally, Barclays boosted their price target on shares of Group 1 Automotive from $455.00 to $470.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $441.25.

Group 1 Automotive Profile

Group 1 Automotive, Inc (NYSE: GPI) is an international automotive retailer headquartered in Houston, Texas. The company operates an extensive network of franchised dealerships, offering new and pre-owned vehicles from leading domestic and import manufacturers. In addition to vehicle sales, Group 1 Automotive provides a full complement of aftersales services, including finance and insurance products, parts distribution, collision repair centers and vehicle maintenance.

Founded in 1997, Group 1 Automotive has grown through both organic expansion and strategic acquisitions to establish a presence across the United States, the United Kingdom and Brazil.