Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 11.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 66,233 shares of the company’s stock after acquiring an additional 6,777 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Group 1 Automotive were worth $4,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently modified their holdings of GPI. Wells Fargo & Company MN grew its stake in Group 1 Automotive by 4.2% during the 2nd quarter. Wells Fargo & Company MN now owns 21,963 shares of the company’s stock worth $1,391,000 after buying an additional 876 shares during the last quarter. FMR LLC grew its stake in Group 1 Automotive by 17.5% during the 2nd quarter. FMR LLC now owns 23,543 shares of the company’s stock worth $1,491,000 after buying an additional 3,500 shares during the last quarter. California Public Employees Retirement System grew its stake in Group 1 Automotive by 0.9% during the 2nd quarter. California Public Employees Retirement System now owns 56,300 shares of the company’s stock worth $3,565,000 after buying an additional 500 shares during the last quarter. State Street Corp grew its stake in Group 1 Automotive by 5.6% during the 2nd quarter. State Street Corp now owns 631,451 shares of the company’s stock worth $39,985,000 after buying an additional 33,723 shares during the last quarter. Finally, Eqis Capital Management Inc. bought a new position in Group 1 Automotive during the 3rd quarter worth $232,000. Hedge funds and other institutional investors own 97.57% of the company’s stock.
In other news, CEO Earl J. Hesterberg sold 10,640 shares of the stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $74.44, for a total value of $792,041.60. Following the completion of the transaction, the chief executive officer now owns 165,010 shares of the company’s stock, valued at $12,283,344.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Earl J. Hesterberg sold 28,519 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $80.06, for a total value of $2,283,231.14. Following the completion of the transaction, the chief executive officer now directly owns 108,440 shares of the company’s stock, valued at approximately $8,681,706.40. The disclosure for this sale can be found here. In the last three months, insiders sold 167,398 shares of company stock valued at $12,974,458. Company insiders own 6.08% of the company’s stock.
A number of research analysts recently commented on the company. Bank of America upped their price objective on Group 1 Automotive from $103.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Zacks Investment Research upgraded Group 1 Automotive from a “hold” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a research note on Wednesday, January 31st. Buckingham Research upgraded Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Friday, January 5th. Finally, Wells Fargo & Co upped their price objective on Group 1 Automotive from $65.00 to $85.00 and gave the stock a “market perform” rating in a research note on Monday, October 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $86.00.
Group 1 Automotive, Inc. (GPI) opened at $74.64 on Thursday. Group 1 Automotive, Inc. has a 52 week low of $51.62 and a 52 week high of $84.47. The stock has a market capitalization of $1,587.37, a price-to-earnings ratio of 7.38, a PEG ratio of 1.24 and a beta of 1.70. The company has a quick ratio of 0.26, a current ratio of 1.06 and a debt-to-equity ratio of 0.79.
Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Thursday, February 8th. The company reported $2.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.24. Group 1 Automotive had a return on equity of 15.85% and a net margin of 1.89%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the prior year, the business posted $1.74 earnings per share. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. research analysts expect that Group 1 Automotive, Inc. will post 8.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a $0.26 dividend. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $1.04 annualized dividend and a dividend yield of 1.39%. Group 1 Automotive’s dividend payout ratio is presently 9.88%.
COPYRIGHT VIOLATION NOTICE: This story was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this story on another publication, it was stolen and republished in violation of United States & international trademark & copyright laws. The correct version of this story can be accessed at https://www.dispatchtribunal.com/2018/02/22/barrow-hanley-mewhinney-strauss-llc-buys-6777-shares-of-group-1-automotive-inc-gpi.html.
Group 1 Automotive Profile
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.
Want to see what other hedge funds are holding GPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Group 1 Automotive, Inc. (NYSE:GPI).
Receive News & Ratings for Group 1 Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Group 1 Automotive and related companies with MarketBeat.com's FREE daily email newsletter.