Bank of New York Mellon Corp Has $41.28 Million Holdings in Group 1 Automotive, Inc. (NYSE:GPI)

Bank of New York Mellon Corp grew its position in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 0.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 138,850 shares of the company’s stock after buying an additional 185 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.03% of Group 1 Automotive worth $41,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in GPI. SummerHaven Investment Management LLC raised its position in Group 1 Automotive by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 2,854 shares of the company’s stock valued at $848,000 after acquiring an additional 49 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in Group 1 Automotive by 53.7% in the second quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock worth $43,000 after purchasing an additional 51 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Group 1 Automotive by 37.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 213 shares of the company’s stock worth $65,000 after buying an additional 58 shares during the last quarter. Principal Securities Inc. bought a new position in Group 1 Automotive during the fourth quarter valued at about $27,000. Finally, Blue Trust Inc. lifted its position in shares of Group 1 Automotive by 47.5% in the second quarter. Blue Trust Inc. now owns 270 shares of the company’s stock worth $79,000 after buying an additional 87 shares during the last quarter. Institutional investors own 99.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Group 1 Automotive from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Bank of America dropped their price target on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, Morgan Stanley boosted their price objective on shares of Group 1 Automotive from $260.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $343.00.

Group 1 Automotive Stock Performance

GPI opened at $376.76 on Monday. The company has a quick ratio of 0.26, a current ratio of 1.02 and a debt-to-equity ratio of 0.80. The stock’s 50 day moving average price is $327.25 and its two-hundred day moving average price is $301.56. The firm has a market capitalization of $5.05 billion, a P/E ratio of 8.89, a price-to-earnings-growth ratio of 1.91 and a beta of 1.35. Group 1 Automotive, Inc. has a 12-month low of $228.84 and a 12-month high of $377.92.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $9.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.36 by $0.44. Group 1 Automotive had a net margin of 3.03% and a return on equity of 20.53%. The business had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same quarter last year, the company posted $11.73 earnings per share. Group 1 Automotive’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities analysts forecast that Group 1 Automotive, Inc. will post 39.26 earnings per share for the current year.

Group 1 Automotive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 2nd will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Friday, August 30th. Group 1 Automotive’s payout ratio is presently 4.44%.

Insider Buying and Selling

In other Group 1 Automotive news, VP Michael David Jones sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $350.99, for a total value of $421,188.00. Following the completion of the transaction, the vice president now owns 9,742 shares of the company’s stock, valued at approximately $3,419,344.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by company insiders.

Group 1 Automotive Company Profile

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.