Coronation Fund Managers Ltd. Has $2.09 Million Stake in Group 1 Automotive, Inc. (NYSE:GPI)

Coronation Fund Managers Ltd. lowered its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 31.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,033 shares of the company’s stock after selling 3,164 shares during the period. Coronation Fund Managers Ltd. owned approximately 0.05% of Group 1 Automotive worth $2,091,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Cetera Investment Advisers lifted its position in shares of Group 1 Automotive by 6.9% in the 2nd quarter. Cetera Investment Advisers now owns 4,153 shares of the company’s stock worth $1,235,000 after acquiring an additional 269 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Group 1 Automotive by 48.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,079 shares of the company’s stock worth $2,105,000 after purchasing an additional 2,308 shares during the period. Creative Planning boosted its stake in Group 1 Automotive by 55.3% during the second quarter. Creative Planning now owns 2,873 shares of the company’s stock worth $854,000 after buying an additional 1,023 shares in the last quarter. Algert Global LLC increased its holdings in Group 1 Automotive by 3.1% in the 2nd quarter. Algert Global LLC now owns 43,767 shares of the company’s stock valued at $13,011,000 after buying an additional 1,313 shares during the period. Finally, Susquehanna Fundamental Investments LLC raised its stake in shares of Group 1 Automotive by 327.0% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 15,459 shares of the company’s stock valued at $4,596,000 after buying an additional 11,839 shares in the last quarter. Institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Price Performance

Shares of GPI stock opened at $373.12 on Thursday. Group 1 Automotive, Inc. has a 52 week low of $228.84 and a 52 week high of $393.93. The stock has a market capitalization of $5.05 billion, a PE ratio of 8.81, a PEG ratio of 1.94 and a beta of 1.33. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.26 and a current ratio of 1.02. The stock’s fifty day moving average is $359.80 and its 200-day moving average is $317.88.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $9.80 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same quarter in the prior year, the firm earned $11.73 EPS. The company’s revenue was up 3.0% on a year-over-year basis. Equities research analysts expect that Group 1 Automotive, Inc. will post 39.18 EPS for the current fiscal year.

Group 1 Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 0.50%. The ex-dividend date was Friday, August 30th. Group 1 Automotive’s dividend payout ratio is 4.44%.

Insider Activity

In other news, VP Michael David Jones sold 1,200 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $350.99, for a total transaction of $421,188.00. Following the transaction, the vice president now owns 9,742 shares of the company’s stock, valued at $3,419,344.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Group 1 Automotive from $360.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Morgan Stanley raised Group 1 Automotive from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $285.00 to $430.00 in a research note on Wednesday, September 25th. StockNews.com upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Bank of America reduced their target price on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, Stephens initiated coverage on shares of Group 1 Automotive in a research report on Thursday, September 12th. They set an “equal weight” rating and a $394.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $396.80.

Group 1 Automotive 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.