Penske Automotive Group, Inc. (NYSE:PAG) Stock Position Reduced by Kapitalo Investimentos Ltda

Kapitalo Investimentos Ltda cut its stake in shares of Penske Automotive Group, Inc. (NYSE:PAG) by 19.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,018 shares of the company’s stock after selling 718 shares during the period. Kapitalo Investimentos Ltda’s holdings in Penske Automotive Group were worth $484,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in Penske Automotive Group during the fourth quarter valued at approximately $929,000. Teachers Retirement System of The State of Kentucky purchased a new position in Penske Automotive Group during the third quarter valued at approximately $1,257,000. Chase Investment Counsel Corp acquired a new stake in Penske Automotive Group in the fourth quarter valued at approximately $802,000. Tudor Investment Corp Et Al lifted its stake in Penske Automotive Group by 29.9% in the third quarter. Tudor Investment Corp Et Al now owns 69,253 shares of the company’s stock valued at $11,569,000 after acquiring an additional 15,946 shares during the last quarter. Finally, Occudo Quantitative Strategies LP lifted its stake in Penske Automotive Group by 321.8% in the fourth quarter. Occudo Quantitative Strategies LP now owns 26,675 shares of the company’s stock valued at $4,282,000 after acquiring an additional 20,351 shares during the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PAG shares. Bank of America lifted their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Morgan Stanley lifted their target price on shares of Penske Automotive Group from $107.00 to $115.00 and gave the company an “underweight” rating in a research note on Thursday, February 29th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $163.20.

Penske Automotive Group Price Performance

Shares of Penske Automotive Group stock opened at $147.05 on Wednesday. The firm has a fifty day simple moving average of $152.01 and a 200-day simple moving average of $153.36. The company has a current ratio of 0.98, a quick ratio of 0.23 and a debt-to-equity ratio of 0.30. Penske Automotive Group, Inc. has a 1-year low of $137.95 and a 1-year high of $180.84. The stock has a market capitalization of $9.83 billion, a price-to-earnings ratio of 10.23 and a beta of 1.19.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $3.21 earnings per share for the quarter, missing analysts’ consensus estimates of $3.35 by ($0.14). Penske Automotive Group had a return on equity of 21.72% and a net margin of 3.27%. The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same quarter in the previous year, the firm posted $4.31 earnings per share. Penske Automotive Group’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, sell-side analysts expect that Penske Automotive Group, Inc. will post 13.37 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Monday, May 20th were paid a dividend of $0.96 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 2.61%. The ex-dividend date was Friday, May 17th. Penske Automotive Group’s dividend payout ratio is presently 26.70%.

About Penske Automotive Group

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.