Group 1 Automotive, Inc. (NYSE:GPI) Position Reduced by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its position in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 12.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,372 shares of the company’s stock after selling 733 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Group 1 Automotive were worth $2,058,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Assetmark Inc. boosted its stake in Group 1 Automotive by 51.9% during 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. bought a new stake in Group 1 Automotive in the third quarter worth about $36,000. Hexagon Capital Partners LLC lifted its holdings in Group 1 Automotive by 53.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock valued at $43,000 after acquiring an additional 51 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Group 1 Automotive during the 2nd quarter valued at about $48,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Group 1 Automotive by 17.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 267 shares of the company’s stock worth $79,000 after purchasing an additional 39 shares during the last quarter. 99.92% of the stock is currently owned by institutional investors and hedge funds.

Group 1 Automotive Price Performance

Shares of NYSE:GPI opened at $414.81 on Friday. The company’s fifty day moving average is $371.84 and its two-hundred day moving average is $338.39. The company has a market cap of $5.53 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 2.15 and a beta of 1.33. Group 1 Automotive, Inc. has a 12-month low of $255.73 and a 12-month high of $422.28. The company has a quick ratio of 0.24, a current ratio of 1.00 and a debt-to-equity ratio of 0.91.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, beating the consensus estimate of $9.87 by $0.03. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.06 billion. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. Group 1 Automotive’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $12.07 earnings per share. Equities analysts expect that Group 1 Automotive, Inc. will post 38.6 earnings per share for the current fiscal year.

Group 1 Automotive declared that its board has authorized a share buyback program on Tuesday, November 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 9.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Group 1 Automotive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, December 2nd. Group 1 Automotive’s dividend payout ratio (DPR) is 5.01%.

Insider Transactions at Group 1 Automotive

In other Group 1 Automotive news, VP Edward Mckissic sold 79 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total value of $29,546.79. Following the transaction, the vice president now owns 6,259 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Stephens initiated coverage on shares of Group 1 Automotive in a research note on Thursday, September 12th. They set an “equal weight” rating and a $394.00 target price for the company. JPMorgan Chase & Co. increased their price objective on Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley upgraded Group 1 Automotive from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. Bank of America cut their target price on 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, StockNews.com upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus 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.