Coldstream Capital Management Inc. Raises Stock Position in Group 1 Automotive, Inc. (NYSE:GPI)

Coldstream Capital Management Inc. raised its holdings in Group 1 Automotive, Inc. (NYSE:GPI) by 8.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,314 shares of the company’s stock after purchasing an additional 100 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Group 1 Automotive were worth $504,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Group 1 Automotive by 0.7% during the third quarter. Geode Capital Management LLC now owns 305,602 shares of the company’s stock worth $117,080,000 after acquiring an additional 1,985 shares during the period. Barclays PLC boosted its position in Group 1 Automotive by 244.7% in the 3rd quarter. Barclays PLC now owns 56,319 shares of the company’s stock worth $21,573,000 after purchasing an additional 39,982 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Group 1 Automotive by 20.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 264 shares of the company’s stock worth $101,000 after purchasing an additional 44 shares during the period. MML Investors Services LLC increased its holdings in shares of Group 1 Automotive by 7.4% during the 3rd quarter. MML Investors Services LLC now owns 6,328 shares of the company’s stock valued at $2,424,000 after purchasing an additional 437 shares in the last quarter. Finally, Hodges Capital Management Inc. lifted its stake in shares of Group 1 Automotive by 1.3% in the 3rd quarter. Hodges Capital Management Inc. now owns 21,960 shares of the company’s stock valued at $8,412,000 after purchasing an additional 289 shares during the period. 99.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Group 1 Automotive 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 transaction, the vice president now directly owns 6,259 shares of the company’s stock, valued at $2,340,928.59. This trade represents a 1.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GPI. StockNews.com raised shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Jefferies Financial Group began coverage on Group 1 Automotive in a research note on Friday. They issued a “buy” rating and a $500.00 price target for the company. Morgan Stanley upgraded Group 1 Automotive from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $285.00 to $430.00 in a research report on Wednesday, September 25th. Guggenheim boosted their price objective on Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. increased their target price on Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $437.67.

Group 1 Automotive Price Performance

Shares of Group 1 Automotive stock opened at $427.10 on Friday. The stock has a market capitalization of $5.69 billion, a P/E ratio of 11.38 and a beta of 1.35. The business has a 50 day simple moving average of $392.47 and a two-hundred day simple moving average of $355.01. Group 1 Automotive, Inc. has a 12 month low of $255.73 and a 12 month high of $440.32. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.24.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 EPS for the quarter, beating the consensus estimate of $9.87 by $0.03. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period in the prior year, the company earned $12.07 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. As a group, analysts predict that Group 1 Automotive, Inc. will post 38.37 EPS for the current fiscal year.

Group 1 Automotive declared that its Board of Directors has approved a share buyback program on Tuesday, November 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 9.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Group 1 Automotive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, December 2nd. Group 1 Automotive’s dividend payout ratio is currently 5.01%.

About Group 1 Automotive

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.