Geode Capital Management LLC Has $117.08 Million Position in Group 1 Automotive, Inc. (NYSE:GPI)

Geode Capital Management LLC grew its position in Group 1 Automotive, Inc. (NYSE:GPI) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 305,602 shares of the company’s stock after purchasing an additional 1,985 shares during the period. Geode Capital Management LLC owned about 2.29% of Group 1 Automotive worth $117,080,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Group 1 Automotive in the 3rd quarter valued at $3,286,000. The Manufacturers Life Insurance Company increased its holdings in shares of Group 1 Automotive by 22.0% in the second quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company’s stock worth $190,004,000 after acquiring an additional 115,143 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Group 1 Automotive by 8.3% in the second quarter. Raymond James & Associates now owns 40,541 shares of the company’s stock worth $12,052,000 after acquiring an additional 3,095 shares in the last quarter. Pathstone Holdings LLC lifted its holdings in shares of Group 1 Automotive by 25.8% during the 3rd quarter. Pathstone Holdings LLC now owns 10,180 shares of the company’s stock valued at $3,899,000 after purchasing an additional 2,089 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC lifted its holdings in shares of Group 1 Automotive by 327.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 15,459 shares of the company’s stock valued at $4,596,000 after purchasing an additional 11,839 shares in the last quarter. 99.92% of the stock is owned by institutional investors.

Insider Activity at Group 1 Automotive

In other news, VP Edward Mckissic sold 79 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total value of $29,546.79. Following the sale, the vice president now directly owns 6,259 shares of the company’s stock, valued at approximately $2,340,928.59. This represents a 1.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. StockNews.com upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on shares of Group 1 Automotive from $420.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Jefferies Financial Group assumed coverage on shares of Group 1 Automotive in a research note on Friday, December 13th. They issued a “buy” rating and a $500.00 target price for the company. Morgan Stanley raised Group 1 Automotive from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $285.00 to $430.00 in a research note on Wednesday, September 25th. Finally, Stephens started coverage on Group 1 Automotive in a research report on Thursday, September 12th. They set an “equal weight” rating and a $394.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $437.67.

Group 1 Automotive Trading Down 1.3 %

Shares of NYSE:GPI opened at $421.71 on Wednesday. The company’s 50-day moving average price is $393.84 and its two-hundred day moving average price is $356.21. Group 1 Automotive, Inc. has a one year low of $255.73 and a one year high of $440.32. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.24. The stock has a market capitalization of $5.62 billion, a PE ratio of 11.24 and a beta of 1.35.

Group 1 Automotive (NYSE:GPI) last released its earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.87 by $0.03. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.06 billion. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. Group 1 Automotive’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $12.07 earnings per share. On average, equities analysts forecast that Group 1 Automotive, Inc. will post 38.37 EPS for the current fiscal year.

Group 1 Automotive announced that its board has initiated a share buyback plan on Tuesday, November 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 9.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Group 1 Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Monday, December 2nd. Group 1 Automotive’s payout ratio is presently 5.01%.

Group 1 Automotive Company Profile

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. 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.