Cibc World Markets Corp Makes New Investment in Group 1 Automotive, Inc. (NYSE:GPI)

Cibc World Markets Corp acquired a new position in Group 1 Automotive, Inc. (NYSE:GPI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,238 shares of the company’s stock, valued at approximately $522,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Group 1 Automotive by 2.1% during the 3rd quarter. State Street Corp now owns 541,766 shares of the company’s stock valued at $207,518,000 after buying an additional 10,969 shares during the period. FMR LLC raised its holdings in Group 1 Automotive by 133.0% in the 3rd quarter. FMR LLC now owns 407,930 shares of the company’s stock worth $156,253,000 after acquiring an additional 232,846 shares during the period. Geode Capital Management LLC increased its holdings in shares of Group 1 Automotive by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 305,602 shares of the company’s stock worth $117,080,000 after purchasing an additional 1,985 shares during the period. Franklin Resources Inc. increased its holdings in shares of Group 1 Automotive by 2.3% during the 3rd quarter. Franklin Resources Inc. now owns 156,627 shares of the company’s stock worth $55,701,000 after purchasing an additional 3,507 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Group 1 Automotive by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 154,923 shares of the company’s stock worth $65,297,000 after purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds own 99.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GPI shares. Stephens reiterated an “equal weight” rating and set a $460.00 target price on shares of Group 1 Automotive in a research report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price target on shares of Group 1 Automotive from $420.00 to $495.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group began coverage on shares of Group 1 Automotive in a research note on Friday, December 13th. They issued a “buy” rating and a $500.00 target price for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $460.33.

Group 1 Automotive Stock Performance

Shares of GPI opened at $399.90 on Friday. Group 1 Automotive, Inc. has a 12 month low of $262.31 and a 12 month high of $490.09. The firm has a fifty day simple moving average of $446.47 and a 200 day simple moving average of $411.78. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 10.88 and a beta of 1.33. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92.

Group 1 Automotive (NYSE:GPI) last announced its earnings results on Wednesday, January 29th. The company reported $10.02 EPS for the quarter, topping the consensus estimate of $8.77 by $1.25. Group 1 Automotive had a net margin of 2.47% and a return on equity of 18.09%. Research analysts forecast that Group 1 Automotive, Inc. will post 41 EPS for the current fiscal year.

Group 1 Automotive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.50 per share. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.47. The ex-dividend date was Monday, March 3rd. This represents a $2.00 annualized dividend and a yield of 0.50%. Group 1 Automotive’s dividend payout ratio is presently 5.44%.

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.