TD Waterhouse Canada Inc. Decreases Position in Group 1 Automotive, Inc. $GPI

TD Waterhouse Canada Inc. cut its holdings in Group 1 Automotive, Inc. (NYSE:GPI) by 69.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,170 shares of the company’s stock after selling 2,619 shares during the period. TD Waterhouse Canada Inc.’s holdings in Group 1 Automotive were worth $335,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Johnson Financial Group Inc. bought a new position in shares of Group 1 Automotive during the third quarter valued at about $55,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Group 1 Automotive in the 4th quarter valued at about $57,000. Global Retirement Partners LLC boosted its holdings in Group 1 Automotive by 78.5% during the 4th quarter. Global Retirement Partners LLC now owns 191 shares of the company’s stock valued at $75,000 after acquiring an additional 84 shares during the period. Allworth Financial LP bought a new position in Group 1 Automotive during the 2nd quarter worth approximately $75,000. Finally, State of Wyoming grew its position in Group 1 Automotive by 28.2% during the 4th quarter. State of Wyoming now owns 191 shares of the company’s stock worth $75,000 after acquiring an additional 42 shares during the last quarter. 99.92% of the stock is currently owned by hedge funds and other institutional investors.

Group 1 Automotive Trading Down 1.3%

NYSE GPI opened at $278.24 on Friday. The stock has a market cap of $3.32 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 0.85 and a beta of 0.82. Group 1 Automotive, Inc. has a fifty-two week low of $249.54 and a fifty-two week high of $485.57. The stock has a 50 day simple moving average of $289.03 and a two-hundred day simple moving average of $311.64. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.25 and a current ratio of 1.02.

Group 1 Automotive (NYSE:GPI) last announced its earnings results on Thursday, July 30th. The company reported $9.61 EPS for the quarter, missing analysts’ consensus estimates of $10.60 by ($0.99). Group 1 Automotive had a net margin of 1.31% and a return on equity of 15.66%. The business had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the prior year, the company earned $10.82 EPS. Group 1 Automotive’s revenue was down 5.6% compared to the same quarter last year. On average, analysts forecast that Group 1 Automotive, Inc. will post 38.96 earnings per share for the current year.

Group 1 Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.55 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.20 annualized dividend and a yield of 0.8%. Group 1 Automotive’s dividend payout ratio is 9.16%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GPI shares. Benchmark reiterated a “buy” rating on shares of Group 1 Automotive in a research report on Friday, July 10th. DA Davidson set a $425.00 target price on shares of Group 1 Automotive in a report on Friday, July 10th. Barclays decreased their target price on shares of Group 1 Automotive from $435.00 to $365.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 19th. Morgan Stanley reiterated an “equal weight” rating and set a $300.00 price target (down from $400.00) on shares of Group 1 Automotive in a report on Friday, August 7th. Finally, Weiss Ratings cut shares of Group 1 Automotive from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $373.38.

Insider Activity at Group 1 Automotive

In related news, major shareholder Conifer Management, L.L.C. bought 36,647 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was purchased at an average cost of $280.86 per share, with a total value of $10,292,676.42. Following the transaction, the insider owned 1,446,640 shares in the company, valued at approximately $406,303,310.40. This trade represents a 2.60% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have bought 254,380 shares of company stock valued at $72,603,674. Company insiders own 2.40% of the company’s stock.

Group 1 Automotive Company Profile

Group 1 Automotive, Inc is an international automotive retailer that operates franchised dealerships in the United States and the United Kingdom. The company sells new and used vehicles from a broad range of manufacturers, including domestic, Asian and European brands.

In addition to vehicle sales, Group 1 Automotive provides automotive maintenance and repair services, sells replacement parts and accessories, and offers financing, insurance and other related products. Its dealerships also support customers through collision-repair operations and online vehicle purchasing tools.

Founded in 1997 and headquartered in Houston, Texas, Group 1 Automotive has expanded through dealership acquisitions and organic growth.