Vanguard Group Inc. Sells 19,705 Shares of Group 1 Automotive, Inc. $GPI

Key Points

• Vanguard Group Inc. reduced its stake in Group 1 Automotive by 1.4%, holding 1,417,565 shares valued at approximately $541.4 million.
• Group 1 Automotive recently reported strong quarterly earnings of $11.52 EPS, surpassing estimates and showing a 21.4% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.50 per share, with a payout ratio of 5.51%, set to be paid on September 16th.

Vanguard Group Inc. lessened its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 1.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,417,565 shares of the company's stock after selling 19,705 shares during the quarter. Vanguard Group Inc. owned approximately 10.96% of Group 1 Automotive worth $541,439,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its holdings in Group 1 Automotive by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,574 shares of the company's stock valued at $983,000 after buying an additional 903 shares during the last quarter. SG Americas Securities LLC increased its stake in Group 1 Automotive by 315.5% during the 1st quarter. SG Americas Securities LLC now owns 1,720 shares of the company's stock valued at $657,000 after buying an additional 1,306 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Group 1 Automotive by 95.9% in the first quarter. GAMMA Investing LLC now owns 237 shares of the company's stock valued at $91,000 after buying an additional 116 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Group 1 Automotive by 68.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,565 shares of the company's stock worth $4,799,000 after acquiring an additional 5,091 shares during the period. Finally, Bessemer Group Inc. boosted its position in shares of Group 1 Automotive by 60.3% during the 1st quarter. Bessemer Group Inc. now owns 109 shares of the company's stock valued at $41,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 99.92% of the company's stock.

Group 1 Automotive Stock Up 1.1%

GPI stock traded up $4.98 during mid-day trading on Tuesday, hitting $450.77. 13,703 shares of the company were exchanged, compared to its average volume of 166,083. The firm's 50 day simple moving average is $438.03 and its 200 day simple moving average is $429.26. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.24 and a current ratio of 1.05. The firm has a market cap of $5.83 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.10 and a beta of 0.83. Group 1 Automotive, Inc. has a 1-year low of $336.33 and a 1-year high of $490.09.

Group 1 Automotive (NYSE:GPI - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $11.52 earnings per share for the quarter, topping analysts' consensus estimates of $10.31 by $1.21. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.65 billion. Group 1 Automotive had a return on equity of 18.10% and a net margin of 2.18%. The company's revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the firm earned $9.82 earnings per share. On average, sell-side analysts predict that Group 1 Automotive, Inc. will post 41 EPS for the current fiscal year.

Group 1 Automotive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.00 annualized dividend and a dividend yield of 0.4%. Group 1 Automotive's dividend payout ratio is 5.51%.

Insider Buying and Selling at Group 1 Automotive

In related news, CFO Daniel James Mchenry sold 3,000 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $441.71, for a total value of $1,325,130.00. Following the transaction, the chief financial officer directly owned 16,674 shares in the company, valued at $7,365,072.54. This trade represents a 15.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven Mizell sold 525 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $417.98, for a total value of $219,439.50. Following the completion of the transaction, the director owned 8 shares in the company, valued at $3,343.84. This represents a 98.50% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of Group 1 Automotive from $510.00 to $565.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Citigroup increased their target price on Group 1 Automotive from $463.00 to $495.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. raised their target price on Group 1 Automotive from $415.00 to $425.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Benchmark assumed coverage on Group 1 Automotive in a research report on Tuesday, June 24th. They set a "hold" rating on the stock. Finally, Morgan Stanley raised their price objective on Group 1 Automotive from $470.00 to $485.00 and gave the stock an "overweight" rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Group 1 Automotive has an average rating of "Moderate Buy" and an average target price of $479.43.

About Group 1 Automotive

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.