Hsbc Holdings PLC Cuts Stock Position in Group 1 Automotive, Inc. $GPI

Hsbc Holdings PLC cut its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 37.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,046 shares of the company’s stock after selling 7,798 shares during the quarter. Hsbc Holdings PLC’s holdings in Group 1 Automotive were worth $5,151,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GPI. NewEdge Advisors LLC grew its holdings in Group 1 Automotive by 6.1% in the second quarter. NewEdge Advisors LLC now owns 471 shares of the company’s stock worth $206,000 after purchasing an additional 27 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Group 1 Automotive by 54.9% during the 4th quarter. Signaturefd LLC now owns 79 shares of the company’s stock valued at $31,000 after purchasing an additional 28 shares during the last quarter. Lido Advisors LLC boosted its position in shares of Group 1 Automotive by 3.4% in the 4th quarter. Lido Advisors LLC now owns 935 shares of the company’s stock worth $399,000 after purchasing an additional 31 shares in the last quarter. Assetmark Inc. boosted 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 in the last quarter. Finally, Evergreen Capital Management LLC grew its stake in Group 1 Automotive by 3.3% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,156 shares of the company’s stock worth $505,000 after buying an additional 37 shares during the last quarter. 99.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Group 1 Automotive from $385.00 to $390.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Barclays raised their price target on Group 1 Automotive from $455.00 to $470.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Evercore set a $440.00 price objective on shares of Group 1 Automotive in a report on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Group 1 Automotive in a research report on Friday, June 12th. Finally, UBS Group assumed coverage on shares of Group 1 Automotive in a research note on Wednesday, May 27th. They issued a “neutral” rating and a $338.00 target price for the company. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Group 1 Automotive currently has an average rating of “Moderate Buy” and an average price target of $433.75.

Group 1 Automotive Price Performance

Shares of NYSE:GPI opened at $302.94 on Friday. Group 1 Automotive, Inc. has a twelve month low of $279.10 and a twelve month high of $488.39. The company’s 50 day moving average is $318.37 and its 200 day moving average is $340.08. The company has a current ratio of 0.95, a quick ratio of 0.21 and a debt-to-equity ratio of 1.00. The company has a market cap of $3.60 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 0.67 and a beta of 0.83.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Thursday, April 30th. The company reported $8.66 EPS for the quarter, missing the consensus estimate of $8.82 by ($0.16). The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.42 billion. Group 1 Automotive had a net margin of 1.46% and a return on equity of 16.63%. The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.17 earnings per share. On average, sell-side analysts forecast that Group 1 Automotive, Inc. will post 42.31 EPS for the current year.

Group 1 Automotive Dividend Announcement

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

About Group 1 Automotive

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.