Group 1 Automotive, Inc. $GPI Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 37.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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.

A number of other institutional investors have also made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its stake in shares of Group 1 Automotive by 366,770.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 25,431,464 shares of the company’s stock valued at $10,002,195,000 after acquiring an additional 25,424,532 shares during the period. Norges Bank acquired a new position in Group 1 Automotive during the fourth quarter worth $98,125,000. Franklin Resources Inc. lifted its stake in Group 1 Automotive by 968.8% during the third quarter. Franklin Resources Inc. now owns 84,412 shares of the company’s stock worth $36,931,000 after purchasing an additional 76,514 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Group 1 Automotive by 34.8% during the third quarter. Victory Capital Management Inc. now owns 226,915 shares of the company’s stock worth $99,278,000 after buying an additional 58,641 shares during the period. Finally, Algert Global LLC grew its stake in shares of Group 1 Automotive by 365.9% in the third quarter. Algert Global LLC now owns 63,980 shares of the company’s stock valued at $27,992,000 after buying an additional 50,248 shares in the last quarter. 99.92% of the stock is currently owned by institutional investors and hedge funds.

Group 1 Automotive Trading Up 0.2%

NYSE:GPI opened at $301.52 on Friday. Group 1 Automotive, Inc. has a 12-month low of $292.44 and a 12-month high of $488.39. The firm has a market cap of $3.59 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 0.69 and a beta of 0.81. 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 stock has a fifty day moving average price of $327.25 and a 200 day moving average price of $347.96.

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

Group 1 Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid 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 was Monday, June 1st. Group 1 Automotive’s dividend payout ratio is presently 8.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GPI shares. Morgan Stanley cut their price objective on Group 1 Automotive from $460.00 to $400.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. UBS Group assumed coverage on Group 1 Automotive in a research report on Wednesday, May 27th. They issued a “neutral” rating and a $338.00 target price for the company. 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 note on Wednesday, May 6th. JPMorgan Chase & Co. increased their price target on shares of Group 1 Automotive from $385.00 to $390.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Citigroup lifted their price objective on shares of Group 1 Automotive from $420.00 to $462.00 and gave the company a “buy” rating in a report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $441.25.

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.