Mackenzie Financial Corp Trims Stock Holdings in Group 1 Automotive, Inc. (NYSE:GPI)

Mackenzie Financial Corp reduced its stake in Group 1 Automotive, Inc. (NYSE:GPI) by 11.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,351 shares of the company’s stock after selling 168 shares during the period. Mackenzie Financial Corp’s holdings in Group 1 Automotive were worth $412,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its position in Group 1 Automotive by 159.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 122 shares of the company’s stock valued at $33,000 after acquiring an additional 75 shares in the last quarter. Gladius Capital Management LP acquired a new position in Group 1 Automotive in the 3rd quarter valued at about $37,000. Planned Solutions Inc. acquired a new position in shares of Group 1 Automotive during the fourth quarter worth about $50,000. Anchor Investment Management LLC acquired a new position in shares of Group 1 Automotive during the fourth quarter worth about $53,000. Finally, NBC Securities Inc. acquired a new position in shares of Group 1 Automotive during the third quarter worth about $84,000. 99.92% of the stock is currently owned by hedge funds and other institutional investors.

Group 1 Automotive Stock Performance

Shares of GPI opened at $300.35 on Friday. The stock has a 50 day moving average price of $273.44 and a 200 day moving average price of $274.91. The company has a quick ratio of 0.33, a current ratio of 1.11 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 7.09, a price-to-earnings-growth ratio of 1.52 and a beta of 1.42. Group 1 Automotive, Inc. has a 52-week low of $214.25 and a 52-week high of $310.08.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $9.50 earnings per share for the quarter, missing analysts’ consensus estimates of $10.44 by ($0.94). Group 1 Automotive had a net margin of 3.23% and a return on equity of 22.82%. The firm had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.41 billion. During the same quarter in the prior year, the firm posted $10.86 EPS. Group 1 Automotive’s quarterly revenue was up 10.6% compared to the same quarter last year. Research analysts predict that Group 1 Automotive, Inc. will post 39.37 EPS for the current fiscal year.

Group 1 Automotive Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.47 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.88 dividend on an annualized basis and a yield of 0.63%. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.45. Group 1 Automotive’s payout ratio is currently 4.44%.

Analyst Ratings Changes

A number of equities analysts have recently commented on GPI shares. JPMorgan Chase & Co. lowered their price objective on Group 1 Automotive from $325.00 to $315.00 and set an “overweight” rating for the company in a research report on Wednesday, April 17th. Stephens reissued an “overweight” rating and set a $330.00 price objective on shares of Group 1 Automotive in a research report on Tuesday, February 13th. StockNews.com downgraded Group 1 Automotive from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Guggenheim raised Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 price target for the company in a report on Wednesday, April 17th. Finally, Morgan Stanley raised Group 1 Automotive from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $200.00 to $255.00 in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $331.67.

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.