Texas Permanent School Fund Corp Lowers Stake in Group 1 Automotive, Inc. (NYSE:GPI)

Texas Permanent School Fund Corp cut its position in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 6.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,819 shares of the company’s stock after selling 804 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.08% of Group 1 Automotive worth $3,216,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Group 1 Automotive in the fourth quarter valued at approximately $46,923,000. Hennessy Advisors Inc. purchased a new stake in Group 1 Automotive in the fourth quarter valued at approximately $24,562,000. Woodson Capital Management LP grew its holdings in Group 1 Automotive by 114.6% in the first quarter. Woodson Capital Management LP now owns 142,500 shares of the company’s stock valued at $41,643,000 after purchasing an additional 76,102 shares during the period. Wellington Management Group LLP purchased a new stake in Group 1 Automotive in the fourth quarter valued at approximately $21,296,000. Finally, Intrinsic Edge Capital Management LLC grew its holdings in Group 1 Automotive by 66.4% in the fourth quarter. Intrinsic Edge Capital Management LLC now owns 84,968 shares of the company’s stock valued at $25,893,000 after purchasing an additional 33,901 shares during the period. 99.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GPI shares. Stephens started coverage on shares of Group 1 Automotive in a research report on Thursday. They set an “equal weight” rating and a $394.00 price target on the stock. Bank of America reduced their price target on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. StockNews.com cut shares of Group 1 Automotive from a “hold” rating to a “sell” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Group 1 Automotive from $360.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Finally, Morgan Stanley lifted their price target on shares of Group 1 Automotive from $260.00 to $285.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $367.80.

Group 1 Automotive Trading Up 5.6 %

NYSE GPI opened at $364.39 on Monday. The company’s fifty day simple moving average is $340.13 and its 200-day simple moving average is $307.74. Group 1 Automotive, Inc. has a 52 week low of $228.84 and a 52 week high of $379.45. The company has a current ratio of 1.02, a quick ratio of 0.26 and a debt-to-equity ratio of 0.80. The stock has a market cap of $4.88 billion, a P/E ratio of 8.60, a PEG ratio of 1.72 and a beta of 1.33.

Group 1 Automotive (NYSE:GPI) last posted its earnings results on Wednesday, July 24th. The company reported $9.80 EPS for the quarter, topping analysts’ consensus estimates of $9.36 by $0.44. Group 1 Automotive had a net margin of 3.03% and a return on equity of 20.53%. The business had revenue of $4.70 billion for the quarter, compared to analysts’ expectations of $4.68 billion. During the same period in the previous year, the company posted $11.73 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts predict that Group 1 Automotive, Inc. will post 39.26 EPS for the current fiscal year.

Group 1 Automotive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 2nd will be issued a $0.47 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.88 annualized dividend and a yield of 0.52%. Group 1 Automotive’s dividend payout ratio is presently 4.44%.

Insider Activity at Group 1 Automotive

In related news, VP Michael David Jones sold 1,200 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $350.99, for a total value of $421,188.00. Following the sale, the vice president now directly owns 9,742 shares of the company’s stock, valued at $3,419,344.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

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.