Group 1 Automotive, Inc. $GPI Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon reduced its Group 1 Automotive stake by 12.1%, selling 12,648 shares and retaining 91,672 shares valued at approximately $30.3 million. Institutional investors collectively own 99.92% of the company’s stock.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $426.89, although UBS lowered its target to $330 and kept a neutral rating. Other firms set targets ranging from $425 to $462.
• Group 1 Automotive shares opened at $331.14, while the company’s latest quarterly results missed EPS estimates and revenue declined 1.8% year over year. The company continues to pay a quarterly dividend of $0.55, representing a 0.7% annualized yield.

Bank of New York Mellon Corp decreased its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 12.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 91,672 shares of the company's stock after selling 12,648 shares during the period. Bank of New York Mellon Corp owned approximately 0.77% of Group 1 Automotive worth $30,309,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its stake in Group 1 Automotive by 366,770.5% during 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 purchasing an additional 25,424,532 shares during the last quarter. Norges Bank acquired a new position in Group 1 Automotive during the fourth quarter valued at $98,125,000. Franklin Resources Inc. grew its position in Group 1 Automotive by 968.8% during the 3rd 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 during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Group 1 Automotive by 2,053.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 51,972 shares of the company's stock valued at $20,403,000 after buying an additional 49,559 shares during the last quarter. Finally, Man Group plc acquired a new position in shares of Group 1 Automotive in the 2nd quarter valued at about $17,959,000. 99.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. UBS Group lowered their target price 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. Weiss Ratings reissued a "hold (c)" rating on shares of Group 1 Automotive in a report on Friday, June 12th. Evercore set a $440.00 target price on shares of Group 1 Automotive in a research note on Tuesday, July 7th. DA Davidson set a $425.00 target price on Group 1 Automotive in a research report on Friday, July 10th. Finally, Citigroup increased their price target on Group 1 Automotive from $420.00 to $462.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $426.89.

Group 1 Automotive Stock Up 0.1%

Shares of NYSE:GPI opened at $331.14 on Monday. The company has a quick ratio of 0.21, a current ratio of 0.95 and a debt-to-equity ratio of 1.00. The business has a fifty day moving average of $312.66 and a two-hundred day moving average of $333.48. The stock has a market cap of $3.94 billion, a P/E ratio of 12.64, a PEG ratio of 0.88 and a beta of 0.83. Group 1 Automotive, Inc. has a 52-week low of $279.10 and a 52-week high of $488.39.

Group 1 Automotive (NYSE:GPI - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $8.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.82 by ($0.16). Group 1 Automotive had a return on equity of 16.63% and a net margin of 1.46%.The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same period last year, the business earned $10.17 earnings per share. The firm's revenue was down 1.8% compared to the same quarter last year. On average, research analysts expect that Group 1 Automotive, Inc. will post 41.57 earnings per share for the current year.

Group 1 Automotive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.55 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. Group 1 Automotive's payout ratio is currently 8.40%.

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.

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