California State Teachers Retirement System Has $4.30 Million Stake in Asbury Automotive Group, Inc. $ABG

Key Points

• California State Teachers Retirement System reduced its Asbury Automotive Group stake by 3% in the second quarter, selling 655 shares and retaining 21,396 shares valued at approximately $4.30 million.
• Asbury reported quarterly EPS of $6.82, exceeding the $6.31 consensus estimate, while revenue reached $4.38 billion, slightly below expectations and up 0.3% year over year.
• ABG shares recently traded at $207.78, below the analyst consensus target of $237.83. Analyst sentiment remains mixed, with two Buy ratings, six Holds and one Sell.

California State Teachers Retirement System reduced its position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,396 shares of the company's stock after selling 655 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Asbury Automotive Group worth $4,302,308 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABG. AlphaGrep UK Ltd bought a new position in Asbury Automotive Group during the 2nd quarter worth approximately $227,000. Nykredit A S purchased a new stake in shares of Asbury Automotive Group during the second quarter valued at about $243,000. Northwestern Mutual Wealth Management Co. boosted its position in Asbury Automotive Group by 439.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,085 shares of the company's stock worth $218,000 after purchasing an additional 884 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Asbury Automotive Group by 36.2% in the 2nd quarter. Hsbc Holdings PLC now owns 4,137 shares of the company's stock valued at $823,000 after acquiring an additional 1,099 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in Asbury Automotive Group during the 2nd quarter valued at about $2,100,000.

Asbury Automotive Group Price Performance

Shares of Asbury Automotive Group stock traded down $1.12 on Tuesday, hitting $207.78. 59,852 shares of the company were exchanged, compared to its average volume of 242,393. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 7.78, a price-to-earnings-growth ratio of 0.80 and a beta of 0.71. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average price of $216.08 and a 200 day moving average price of $204.31. Asbury Automotive Group, Inc. has a 1-year low of $172.01 and a 1-year high of $258.74.

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

Wall Street Analysts Forecast Growth

ABG has been the topic of several analyst reports. UBS Group set a $250.00 price target on shares of Asbury Automotive Group in a research note on Wednesday, July 29th. Citigroup upped their target price on shares of Asbury Automotive Group from $212.00 to $250.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. JPMorgan Chase & Co. cut their price objective on shares of 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 restated an "overweight" rating and set a $242.00 target price on shares of Asbury Automotive Group in a research note on Tuesday, June 2nd. Finally, Barclays raised their price target on shares of 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 analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $237.83.

Insider Buying and Selling at Asbury Automotive Group

In related news, SVP Jed Milstein sold 948 shares of Asbury Automotive Group stock in a transaction on Wednesday, July 29th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.75% of the company's stock.

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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