Group 1 Automotive, Inc. $GPI Shares Sold by Royal Bank of Canada

Royal Bank of Canada lessened its holdings in Group 1 Automotive, Inc. (NYSE:GPIFree Report) by 30.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,306 shares of the company’s stock after selling 5,267 shares during the quarter. Royal Bank of Canada’s holdings in Group 1 Automotive were worth $4,069,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GPI. WINTON GROUP Ltd acquired a new position in shares of Group 1 Automotive during the 4th quarter worth about $5,167,000. Norges Bank acquired a new stake in shares of Group 1 Automotive during the 4th quarter worth about $98,125,000. New Age Alpha Advisors LLC raised its position in shares of Group 1 Automotive by 1,001.6% during the 4th quarter. New Age Alpha Advisors LLC now owns 12,779 shares of the company’s stock worth $5,026,000 after acquiring an additional 11,619 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Group 1 Automotive by 51.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 78,794 shares of the company’s stock worth $26,064,000 after purchasing an additional 26,822 shares during the last quarter. Finally, WCM Investment Management LLC purchased a new stake in Group 1 Automotive during the first quarter worth approximately $5,049,000. 99.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GPI has been the subject of a number of research analyst reports. Barclays lowered their price target on Group 1 Automotive from $470.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Morgan Stanley restated an “equal weight” rating and set a $300.00 price objective (down from $400.00) on shares of Group 1 Automotive in a research report on Friday, August 7th. DA Davidson set a $425.00 target price on shares of Group 1 Automotive in a report on Friday, July 10th. JPMorgan Chase & Co. downgraded shares of Group 1 Automotive from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $380.00 to $320.00 in a research report on Friday, July 31st. Finally, Zacks Research downgraded shares of Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Group 1 Automotive currently has a consensus rating of “Hold” and a consensus price target of $400.22.

Read Our Latest Analysis on GPI

Group 1 Automotive Stock Up 0.5%

Shares of NYSE GPI opened at $264.33 on Friday. The stock has a market cap of $3.15 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 0.78 and a beta of 0.82. The company has a quick ratio of 0.25, a current ratio of 1.02 and a debt-to-equity ratio of 1.03. Group 1 Automotive, Inc. has a 52-week low of $259.24 and a 52-week high of $488.39. The business has a 50-day moving average price of $304.35 and a 200 day moving average price of $322.52.

Group 1 Automotive (NYSE:GPIGet Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $9.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.60 by ($0.99). The firm had revenue of $5.39 billion for the quarter, compared to analysts’ expectations of $5.66 billion. Group 1 Automotive had a return on equity of 15.66% and a net margin of 1.31%.The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.82 EPS. Equities research analysts forecast that Group 1 Automotive, Inc. will post 39.37 earnings per share for the current year.

Group 1 Automotive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.8%. Group 1 Automotive’s dividend payout ratio (DPR) is 9.16%.

Group 1 Automotive Company Profile

(Free Report)

Group 1 Automotive, Inc (NYSE: GPI) is an international automotive retailer headquartered in Houston, Texas. The company operates an extensive network of franchised dealerships, offering new and pre-owned vehicles from leading domestic and import manufacturers. In addition to vehicle sales, Group 1 Automotive provides a full complement of aftersales services, including finance and insurance products, parts distribution, collision repair centers and vehicle maintenance.

Founded in 1997, Group 1 Automotive has grown through both organic expansion and strategic acquisitions to establish a presence across the United States, the United Kingdom and Brazil.

Further Reading

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Institutional Ownership by Quarter for Group 1 Automotive (NYSE:GPI)

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