30,906 Shares in Group 1 Automotive, Inc. (NYSE:GPI) Purchased by Wellington Management Group LLP

Wellington Management Group LLP acquired a new position in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 30,906 shares of the company's stock, valued at approximately $11,838,000. Wellington Management Group LLP owned about 0.23% of Group 1 Automotive as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the business. FMR LLC increased its position in Group 1 Automotive by 133.0% during the 3rd quarter. FMR LLC now owns 407,930 shares of the company's stock valued at $156,253,000 after purchasing an additional 232,846 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Group 1 Automotive by 22.0% during the second quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company's stock valued at $190,004,000 after buying an additional 115,143 shares during the period. Thrivent Financial for Lutherans raised its stake in Group 1 Automotive by 596.3% in the third quarter. Thrivent Financial for Lutherans now owns 76,384 shares of the company's stock worth $29,259,000 after buying an additional 65,414 shares in the last quarter. Verition Fund Management LLC lifted its holdings in Group 1 Automotive by 3,663.1% in the third quarter. Verition Fund Management LLC now owns 55,280 shares of the company's stock worth $21,174,000 after buying an additional 53,811 shares during the period. Finally, Rockefeller Capital Management L.P. bought a new stake in Group 1 Automotive during the 3rd quarter valued at approximately $13,117,000. 99.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Group 1 Automotive from $420.00 to $425.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Morgan Stanley raised shares of Group 1 Automotive from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $285.00 to $430.00 in a research report on Wednesday, September 25th. Jefferies Financial Group initiated coverage on shares of Group 1 Automotive in a research note on Friday. They set a "buy" rating and a $500.00 price objective on the stock. Stephens assumed coverage on shares of Group 1 Automotive in a research note on Thursday, September 12th. They set an "equal weight" rating and a $394.00 target price for the company. Finally, Guggenheim boosted their price target on Group 1 Automotive from $420.00 to $442.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Group 1 Automotive presently has an average rating of "Moderate Buy" and a consensus target price of $437.67.

Group 1 Automotive Stock Up 0.5 %

GPI traded up $2.10 during trading on Friday, hitting $427.10. 117,296 shares of the company's stock traded hands, compared to its average volume of 134,224. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 11.38 and a beta of 1.35. The company's 50 day simple moving average is $392.47 and its two-hundred day simple moving average is $355.37. Group 1 Automotive, Inc. has a 12-month low of $255.73 and a 12-month high of $440.32. The company has a current ratio of 1.00, a quick ratio of 0.24 and a debt-to-equity ratio of 0.91.

Group 1 Automotive (NYSE:GPI - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 EPS for the quarter, topping the consensus estimate of $9.87 by $0.03. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. Group 1 Automotive's revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the company earned $12.07 EPS. Analysts predict that Group 1 Automotive, Inc. will post 38.37 earnings per share for the current fiscal year.

Group 1 Automotive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.47 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.88 annualized dividend and a dividend yield of 0.44%. Group 1 Automotive's payout ratio is 5.01%.

Group 1 Automotive declared that its Board of Directors has approved a share buyback program on Tuesday, November 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 9.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Insider Transactions at Group 1 Automotive

In other Group 1 Automotive news, VP Edward Mckissic sold 79 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total transaction of $29,546.79. Following the completion of the sale, the vice president now directly owns 6,259 shares of the company's stock, valued at approximately $2,340,928.59. This represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.70% of the company's stock.

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.