California State Teachers Retirement System Has $865.11 Million Position in Asbury Automotive Group, Inc. $ABG

California State Teachers Retirement System boosted its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 19,410.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,302,308 shares of the company's stock after acquiring an additional 4,280,257 shares during the quarter. California State Teachers Retirement System owned 23.97% of Asbury Automotive Group worth $865,108,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Los Angeles Capital Management LLC bought a new stake in shares of Asbury Automotive Group in the 4th quarter worth about $25,000. Quarry LP lifted its holdings in Asbury Automotive Group by 319.2% during the 3rd quarter. Quarry LP now owns 109 shares of the company's stock valued at $27,000 after purchasing an additional 83 shares during the last quarter. Osaic Holdings Inc. boosted its position in Asbury Automotive Group by 69.2% in the second quarter. Osaic Holdings Inc. now owns 132 shares of the company's stock valued at $31,000 after buying an additional 54 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Asbury Automotive Group in the second quarter valued at about $34,000. Finally, Allworth Financial LP bought a new stake in Asbury Automotive Group during the second quarter worth about $36,000.

Asbury Automotive Group Stock Performance

Shares of Asbury Automotive Group stock opened at $208.46 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.91 and a quick ratio of 0.29. The firm has a 50 day simple moving average of $216.05 and a 200 day simple moving average of $204.38. Asbury Automotive Group, Inc. has a fifty-two week low of $172.01 and a fifty-two week high of $258.74. The firm has a market cap of $3.74 billion, a P/E ratio of 7.80, a P/E/G ratio of 0.80 and a beta of 0.71.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $6.82 EPS for the quarter, beating analysts' consensus estimates of $6.31 by $0.51. Asbury Automotive Group had a return on equity of 12.72% and a net margin of 2.83%.The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same period last year, the company earned $7.43 EPS. The business's quarterly revenue was up .3% compared to the same quarter last year. Sell-side analysts predict that Asbury Automotive Group, Inc. will post 26.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ABG shares. Seaport Research Partners raised shares of Asbury Automotive Group from a "neutral" rating to a "buy" rating and set a $300.00 price objective for the company in a report on Tuesday, September 8th. Citigroup boosted their target price on Asbury Automotive Group from $212.00 to $250.00 and gave the stock a "neutral" rating in a report on Friday, July 31st. JPMorgan Chase & Co. decreased their price target on Asbury Automotive Group from $220.00 to $190.00 and set an "underweight" rating on the stock in a research report on Tuesday, August 4th. Stephens reaffirmed an "overweight" rating and set a $242.00 price target on shares of Asbury Automotive Group in a report on Tuesday, June 2nd. Finally, Barclays lifted their price objective on Asbury Automotive Group from $225.00 to $265.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $237.83.

Insider Buying and Selling at Asbury Automotive Group

In related news, SVP Jed Milstein sold 948 shares of the business's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $250.28, for a total transaction of $237,265.44. Following the completion of the sale, the senior vice president directly owned 11,259 shares of the company's stock, valued at $2,817,902.52. The trade was a 7.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.75% of the stock is currently owned by company insiders.

Asbury Automotive Group Profile

Asbury Automotive Group, Inc is a U.S.-based automotive retailer that sells new and used vehicles through a network of franchised dealerships. The company represents a range of domestic, import and luxury automotive brands and serves consumers in multiple markets across the United States.

In addition to vehicle sales, Asbury provides automotive maintenance and repair services, replacement parts, collision repair and other dealership-related services. Its dealerships also offer financing and insurance products, vehicle protection plans and digital tools designed to support vehicle purchasing and ownership.

Founded in 1995 and headquartered in Duluth, Georgia, Asbury has expanded through acquisitions as well as the development of its dealership portfolio.

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