Sawgrass Asset Management LLC Sells 25 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Sawgrass Asset Management LLC decreased its holdings in Group 1 Automotive, Inc. (NYSE:GPI) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Assetmark Inc. raised its holdings in Group 1 Automotive by 51.9% in the third quarter. Assetmark Inc. now owns 82 shares of the company’s stock worth $31,000 after purchasing an additional 28 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Group 1 Automotive during the third quarter valued at approximately $36,000. Hexagon Capital Partners LLC boosted its stake in Group 1 Automotive by 53.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock valued at $43,000 after purchasing an additional 51 shares during the last quarter. Headlands Technologies LLC bought a new stake in Group 1 Automotive in the 2nd quarter worth about $48,000. Finally, Blue Trust Inc. grew its stake 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 acquiring an additional 87 shares during the period. Institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Price Performance

Shares of NYSE:GPI opened at $414.81 on Friday. The company has a market cap of $5.53 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 2.13 and a beta of 1.33. Group 1 Automotive, Inc. has a twelve month low of $255.73 and a twelve month high of $422.28. The company’s 50 day moving average is $371.84 and its 200 day moving average is $338.70. The company has a current ratio of 1.00, a quick ratio of 0.24 and a debt-to-equity ratio of 0.91.

Group 1 Automotive (NYSE:GPI) last posted 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. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.06 billion. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $12.07 EPS. On average, sell-side analysts forecast that Group 1 Automotive, Inc. will post 38.52 EPS for the current year.

Group 1 Automotive announced that its board has authorized a share repurchase program on Tuesday, November 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 9.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.45%. Group 1 Automotive’s dividend payout ratio (DPR) is presently 5.01%.

Insider Activity

In related news, VP Edward Mckissic sold 79 shares of the firm’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 sale, the vice president now owns 6,259 shares of the company’s stock, valued at $2,340,928.59. This trade represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GPI shares. 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 research report on Tuesday, November 5th. Stephens initiated coverage on Group 1 Automotive in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price objective for the company. Bank of America cut their price objective 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. StockNews.com upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, Morgan Stanley upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $285.00 to $430.00 in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Group 1 Automotive has an average rating of “Moderate Buy” and a consensus target price of $397.80.

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.