Group 1 Automotive, Inc. (NYSE:GPI) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC lessened its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 2.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 889 shares of the company’s stock after selling 25 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Group 1 Automotive were worth $341,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assetmark Inc. increased its holdings in shares of Group 1 Automotive by 51.9% in the third quarter. Assetmark Inc. now owns 82 shares of the company’s stock valued at $31,000 after buying an additional 28 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Group 1 Automotive during the 3rd quarter valued at $36,000. Hexagon Capital Partners LLC increased its position in Group 1 Automotive by 53.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock worth $43,000 after purchasing an additional 51 shares during the last quarter. Headlands Technologies LLC acquired a new position in Group 1 Automotive in the second quarter worth approximately $48,000. Finally, Blue Trust Inc. raised its holdings in shares of Group 1 Automotive by 47.5% during the 2nd quarter. Blue Trust Inc. now owns 270 shares of the company’s stock valued at $79,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Stock Performance

Group 1 Automotive stock opened at $414.81 on Friday. The stock has a market cap of $5.53 billion, a PE ratio of 11.05, a P/E/G ratio of 2.13 and a beta of 1.33. The company has a quick ratio of 0.24, a current ratio of 1.00 and a debt-to-equity ratio of 0.91. The business’s 50-day moving average price is $371.84 and its two-hundred day moving average price is $338.70. Group 1 Automotive, Inc. has a 12-month low of $255.73 and a 12-month high of $422.28.

Group 1 Automotive (NYSE:GPI) last announced its earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.87 by $0.03. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the company earned $12.07 EPS. Group 1 Automotive’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, analysts expect that Group 1 Automotive, Inc. will post 38.52 earnings per share for the current fiscal year.

Group 1 Automotive declared that its board has approved a stock repurchase plan on Tuesday, November 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 9.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Group 1 Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 2nd. Group 1 Automotive’s payout ratio is 5.01%.

Insider Activity

In related news, VP Edward Mckissic sold 79 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total value of $29,546.79. Following the completion of the sale, the vice president now directly owns 6,259 shares of the company’s stock, valued at approximately $2,340,928.59. This represents a 1.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

GPI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. StockNews.com raised Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Stephens began coverage on Group 1 Automotive in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price objective for the company. Morgan Stanley raised Group 1 Automotive from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $285.00 to $430.00 in a research note on Wednesday, September 25th. Finally, Bank of America decreased their target price on Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $397.80.

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.