Thrivent Financial for Lutherans Increases Stake in Group 1 Automotive, Inc. (NYSE:GPI)

Thrivent Financial for Lutherans grew its position in Group 1 Automotive, Inc. (NYSE:GPI) by 596.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 76,384 shares of the company’s stock after purchasing an additional 65,414 shares during the period. Thrivent Financial for Lutherans’ holdings in Group 1 Automotive were worth $29,259,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GPI. The Manufacturers Life Insurance Company raised its stake in shares of Group 1 Automotive by 22.0% in the second quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company’s stock valued at $190,004,000 after acquiring an additional 115,143 shares during the period. Woodson Capital Management LP grew its holdings in shares of Group 1 Automotive by 114.6% in the first quarter. Woodson Capital Management LP now owns 142,500 shares of the company’s stock worth $41,643,000 after purchasing an additional 76,102 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Group 1 Automotive by 57.4% in the third quarter. Assenagon Asset Management S.A. now owns 63,236 shares of the company’s stock worth $24,222,000 after purchasing an additional 23,051 shares during the last quarter. Shellback Capital LP grew its holdings in shares of Group 1 Automotive by 27.1% in the second quarter. Shellback Capital LP now owns 95,302 shares of the company’s stock worth $28,331,000 after purchasing an additional 20,302 shares during the last quarter. Finally, Hennessy Advisors Inc. grew its holdings in shares of Group 1 Automotive by 18.1% in the second quarter. Hennessy Advisors Inc. now owns 108,500 shares of the company’s stock worth $32,255,000 after purchasing an additional 16,600 shares during the last quarter. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GPI. Stephens began coverage on shares of Group 1 Automotive in a report on Thursday, September 12th. They set an “equal weight” rating and a $394.00 target price on the stock. StockNews.com upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Morgan Stanley upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. increased their target price on shares of Group 1 Automotive from $420.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $397.80.

Group 1 Automotive Stock Down 0.2 %

NYSE:GPI opened at $401.26 on Wednesday. Group 1 Automotive, Inc. has a fifty-two week low of $255.73 and a fifty-two week high of $422.28. The stock has a market capitalization of $5.34 billion, a P/E ratio of 10.69 and a beta of 1.33. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.24 and a current ratio of 1.00. The company’s 50-day simple moving average is $373.87 and its 200-day simple moving average is $340.54.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, beating analysts’ consensus estimates of $9.87 by $0.03. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same period last year, the business earned $12.07 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. On average, equities analysts anticipate that Group 1 Automotive, Inc. will post 38.52 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

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

Group 1 Automotive declared that its Board of Directors has approved a stock buyback plan on Tuesday, November 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 9.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of the 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 completion of 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by insiders.

Group 1 Automotive Company 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.