New York State Teachers Retirement System Cuts Stock Position in Group 1 Automotive, Inc. (NYSE:GPI)

New York State Teachers Retirement System reduced its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 5.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,337 shares of the company’s stock after selling 1,100 shares during the quarter. New York State Teachers Retirement System’s holdings in Group 1 Automotive were worth $7,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the business. Bessemer Group Inc. boosted its stake in shares of Group 1 Automotive by 119.4% in the 4th quarter. Bessemer Group Inc. now owns 68 shares of the company’s stock worth $29,000 after buying an additional 37 shares during the last quarter. Fifth Third Bancorp grew its holdings in Group 1 Automotive by 24.8% during the first quarter. Fifth Third Bancorp now owns 146 shares of the company’s stock valued at $56,000 after purchasing an additional 29 shares during the period. NBC Securities Inc. bought a new stake in Group 1 Automotive during the first quarter valued at about $87,000. GAMMA Investing LLC grew its holdings in Group 1 Automotive by 95.9% during the first quarter. GAMMA Investing LLC now owns 237 shares of the company’s stock valued at $91,000 after purchasing an additional 116 shares during the period. Finally, Steward Partners Investment Advisory LLC bought a new stake in Group 1 Automotive during the fourth quarter valued at about $144,000. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Insider Buying and Selling

In other Group 1 Automotive news, CFO Daniel James Mchenry sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $441.71, for a total transaction of $1,325,130.00. Following the sale, the chief financial officer directly owned 16,674 shares in the company, valued at $7,365,072.54. This represents a 15.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Michael David Jones sold 1,613 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $405.57, for a total value of $654,184.41. Following the sale, the vice president owned 8,260 shares in the company, valued at approximately $3,350,008.20. This trade represents a 16.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Group 1 Automotive Price Performance

NYSE:GPI opened at $466.09 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $6.03 billion, a P/E ratio of 13.09, a P/E/G ratio of 1.16 and a beta of 0.90. Group 1 Automotive, Inc. has a 12 month low of $279.86 and a 12 month high of $490.09. The business’s 50-day moving average is $432.53 and its 200 day moving average is $428.99.

Group 1 Automotive (NYSE:GPI) last posted its earnings results on Thursday, April 24th. The company reported $10.17 EPS for the quarter, topping analysts’ consensus estimates of $9.68 by $0.49. The company had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.37 billion. Group 1 Automotive had a return on equity of 17.96% and a net margin of 2.27%. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the previous year, the business earned $9.49 earnings per share. On average, equities research analysts forecast that Group 1 Automotive, Inc. will post 41 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.50 dividend. The ex-dividend date was Monday, June 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.43%. Group 1 Automotive’s dividend payout ratio is currently 5.61%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Group 1 Automotive from $495.00 to $435.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Citigroup upped their price objective on Group 1 Automotive from $463.00 to $495.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Benchmark assumed coverage on Group 1 Automotive in a research note on Tuesday, June 24th. They issued a “hold” rating for the company. Guggenheim lowered Group 1 Automotive from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 14th. Finally, Wall Street Zen lowered Group 1 Automotive from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Group 1 Automotive has an average rating of “Moderate Buy” and an average target price of $473.00.

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.