17,697 Shares in Group 1 Automotive, Inc. $GPI Bought by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC purchased 17,697 shares of Group 1 Automotive worth approximately $5.13 million, acquiring about 0.15% of the company. Institutional investors collectively own 99.92% of GPI.
• Group 1 Automotive’s latest quarterly results fell short of expectations, with EPS of $9.61 versus the $10.60 consensus estimate and revenue of $5.39 billion, down 5.6% year over year.
• The company declared a quarterly dividend of $0.55 per share, equivalent to $2.20 annually and a 0.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $392.44.

Hsbc Holdings PLC purchased a new position in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,697 shares of the company's stock, valued at approximately $5,134,000. Hsbc Holdings PLC owned approximately 0.15% of Group 1 Automotive at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Torren Management LLC bought a new stake in shares of Group 1 Automotive in the 4th quarter valued at about $43,000. Johnson Financial Group Inc. bought a new position in Group 1 Automotive during the third quarter worth about $55,000. Aster Capital Management DIFC Ltd bought a new position in Group 1 Automotive during the fourth quarter worth about $57,000. Global Retirement Partners LLC increased its position in Group 1 Automotive by 78.5% during the fourth quarter. Global Retirement Partners LLC now owns 191 shares of the company's stock worth $75,000 after buying an additional 84 shares during the last quarter. Finally, State of Wyoming increased its position in Group 1 Automotive by 28.2% during the fourth quarter. State of Wyoming now owns 191 shares of the company's stock worth $75,000 after buying an additional 42 shares during the last quarter. Institutional investors and hedge funds own 99.92% of the company's stock.

Group 1 Automotive Trading Up 0.6%

Shares of NYSE:GPI opened at $263.66 on Friday. Group 1 Automotive, Inc. has a 12-month low of $249.54 and a 12-month high of $488.39. The business has a 50 day moving average of $292.47 and a 200-day moving average of $315.28. The company has a quick ratio of 0.25, a current ratio of 1.02 and a debt-to-equity ratio of 1.03. The stock has a market cap of $3.14 billion, a PE ratio of 10.98, a P/E/G ratio of 0.79 and a beta of 0.82.

Group 1 Automotive (NYSE:GPI - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $9.61 earnings per share for the quarter, missing analysts' consensus estimates of $10.60 by ($0.99). The firm had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.66 billion. Group 1 Automotive had a return on equity of 15.66% and a net margin of 1.31%.Group 1 Automotive's revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the business posted $10.82 EPS. As a group, equities research analysts forecast that Group 1 Automotive, Inc. will post 38.96 earnings per share for the current year.

Group 1 Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.8%. Group 1 Automotive's dividend payout ratio (DPR) is currently 9.16%.

Analyst Upgrades and Downgrades

GPI has been the subject of a number of recent analyst reports. Evercore set a $360.00 price objective on Group 1 Automotive in a research report on Tuesday, August 4th. UBS Group dropped their price target on Group 1 Automotive from $338.00 to $330.00 and set a "neutral" rating on the stock in a research note on Friday, July 10th. Barclays cut their price target on Group 1 Automotive from $435.00 to $365.00 and set an "overweight" rating for the company in a report on Wednesday, August 19th. JPMorgan Chase & Co. cut shares of Group 1 Automotive from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $380.00 to $320.00 in a research report on Friday, July 31st. Finally, Seaport Research Partners set a $420.00 price objective on shares of Group 1 Automotive in a report on Monday, August 3rd. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $392.44.

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.

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