State of Alaska Department of Revenue reduced its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI – Get Rating) by 6.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 11,992 shares of the company’s stock after selling 825 shares during the quarter. State of Alaska Department of Revenue’s holdings in Group 1 Automotive were worth $2,012,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp grew its position in Group 1 Automotive by 0.3% during the 4th quarter. State Street Corp now owns 673,083 shares of the company’s stock worth $131,399,000 after purchasing an additional 1,845 shares during the period. Lakewood Capital Management LP grew its position in Group 1 Automotive by 3.9% during the 4th quarter. Lakewood Capital Management LP now owns 377,226 shares of the company’s stock worth $73,642,000 after purchasing an additional 14,000 shares during the period. Geode Capital Management LLC grew its position in shares of Group 1 Automotive by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 333,536 shares of the company’s stock valued at $65,112,000 after acquiring an additional 2,824 shares during the period. Bank of New York Mellon Corp grew its position in shares of Group 1 Automotive by 5.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 257,922 shares of the company’s stock valued at $48,458,000 after acquiring an additional 14,199 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Group 1 Automotive by 15.2% during the 4th quarter. Bank of America Corp DE now owns 236,984 shares of the company’s stock valued at $46,263,000 after acquiring an additional 31,212 shares during the period. 99.57% of the stock is currently owned by institutional investors.
Shares of Group 1 Automotive stock opened at $172.20 on Friday. The firm has a market capitalization of $2.86 billion, a PE ratio of 4.73, a P/E/G ratio of 0.30 and a beta of 1.52. Group 1 Automotive, Inc. has a twelve month low of $145.72 and a twelve month high of $212.23. The firm’s 50-day moving average price is $177.41 and its 200 day moving average price is $179.19. The company has a current ratio of 1.02, a quick ratio of 0.34 and a debt-to-equity ratio of 0.98.
Group 1 Automotive (NYSE:GPI – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The company reported $10.81 earnings per share for the quarter, beating analysts’ consensus estimates of $9.45 by $1.36. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.77 billion. Group 1 Automotive had a net margin of 4.45% and a return on equity of 38.47%. Group 1 Automotive’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period last year, the company posted $5.57 EPS. On average, sell-side analysts predict that Group 1 Automotive, Inc. will post 41.89 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st were paid a $0.37 dividend. The ex-dividend date was Tuesday, May 31st. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 0.86%. Group 1 Automotive’s dividend payout ratio (DPR) is currently 4.07%.
In other Group 1 Automotive news, VP Michael David Jones sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $181.49, for a total value of $181,490.00. Following the transaction, the vice president now directly owns 12,972 shares of the company’s stock, valued at approximately $2,354,288.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Frank Grese sold 910 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $185.86, for a total transaction of $169,132.60. Following the completion of the transaction, the senior vice president now directly owns 21,714 shares in the company, valued at $4,035,764.04. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.
GPI has been the topic of a number of analyst reports. Morgan Stanley cut Group 1 Automotive from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $187.00 to $160.00 in a research report on Friday, May 20th. JPMorgan Chase & Co. cut Group 1 Automotive from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $240.00 to $200.00 in a research report on Thursday, April 7th. Finally, StockNews.com cut Group 1 Automotive from a “strong-buy” rating to a “buy” rating in a research report on Tuesday.
Group 1 Automotive Profile (Get Rating)
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. 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. It operates primarily in 17 states in the United States; and 35 towns in the United Kingdom.
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