Crossmark Global Holdings Inc. Trims Stock Holdings in Group 1 Automotive, Inc. (NYSE:GPI)

Crossmark Global Holdings Inc. decreased its holdings in Group 1 Automotive, Inc. (NYSE:GPI) by 14.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,537 shares of the company’s stock after selling 265 shares during the period. Crossmark Global Holdings Inc.’s holdings in Group 1 Automotive were worth $457,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. SummerHaven Investment Management LLC boosted its stake in shares of Group 1 Automotive by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 2,854 shares of the company’s stock worth $848,000 after acquiring an additional 49 shares during the period. Hexagon Capital Partners LLC boosted its stake in shares of Group 1 Automotive by 53.7% in the second quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock worth $43,000 after acquiring an additional 51 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Group 1 Automotive by 37.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 213 shares of the company’s stock worth $65,000 after acquiring an additional 58 shares during the period. Principal Securities Inc. bought a new position in shares of Group 1 Automotive in the fourth quarter worth about $27,000. Finally, Blue Trust Inc. boosted its stake in shares of Group 1 Automotive by 47.5% in the second quarter. Blue Trust Inc. now owns 270 shares of the company’s stock worth $79,000 after acquiring an additional 87 shares during the period. Institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Price Performance

Shares of Group 1 Automotive stock opened at $376.76 on Tuesday. The stock has a 50 day moving average of $328.77 and a 200 day moving average of $302.27. Group 1 Automotive, Inc. has a 12 month low of $228.84 and a 12 month high of $377.92. The firm has a market cap of $5.10 billion, a PE ratio of 8.89, a PEG ratio of 1.91 and a beta of 1.35. The company has a current ratio of 1.02, a quick ratio of 0.26 and a debt-to-equity ratio of 0.80.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $9.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.36 by $0.44. The business had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.68 billion. Group 1 Automotive had a return on equity of 20.53% and a net margin of 3.03%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the company earned $11.73 EPS. On average, research analysts expect that Group 1 Automotive, Inc. will post 39.26 EPS for the current fiscal year.

Group 1 Automotive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Friday, August 30th. Group 1 Automotive’s payout ratio is 4.44%.

Insider Activity

In other news, VP Michael David Jones sold 1,200 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was 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 in the company, valued at $3,419,344.58. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on GPI. Bank of America dropped their price objective on Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. increased their price target on Group 1 Automotive from $310.00 to $360.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, Morgan Stanley increased their price target on Group 1 Automotive from $260.00 to $285.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $343.00.

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.