Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Genuine Parts (NYSE:GPC) by 6.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 8,532 shares of the specialty retailer’s stock after buying an additional 526 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Genuine Parts were worth $956,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in GPC. Private Trust Co. NA lifted its holdings in Genuine Parts by 3.8% in the 1st quarter. Private Trust Co. NA now owns 2,514 shares of the specialty retailer’s stock valued at $281,000 after purchasing an additional 93 shares in the last quarter. Conning Inc. lifted its holdings in shares of Genuine Parts by 3.5% during the 1st quarter. Conning Inc. now owns 2,959 shares of the specialty retailer’s stock worth $331,000 after acquiring an additional 100 shares during the period. Frontier Investment Mgmt Co. lifted its holdings in shares of Genuine Parts by 0.8% during the 4th quarter. Frontier Investment Mgmt Co. now owns 14,104 shares of the specialty retailer’s stock worth $1,354,000 after acquiring an additional 109 shares during the period. Private Capital Group LLC lifted its holdings in shares of Genuine Parts by 38.3% during the 4th quarter. Private Capital Group LLC now owns 469 shares of the specialty retailer’s stock worth $45,000 after acquiring an additional 130 shares during the period. Finally, Creative Planning lifted its holdings in shares of Genuine Parts by 1.0% during the 4th quarter. Creative Planning now owns 13,740 shares of the specialty retailer’s stock worth $1,319,000 after acquiring an additional 130 shares during the period. 76.36% of the stock is currently owned by institutional investors.
Several analysts have issued reports on the stock. ValuEngine raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. Evercore ISI assumed coverage on Genuine Parts in a report on Wednesday, March 20th. They set an “in-line” rating and a $110.00 target price on the stock. Zacks Investment Research lowered Genuine Parts from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Finally, Stephens assumed coverage on Genuine Parts in a report on Thursday, May 30th. They set an “overweight” rating and a $114.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Genuine Parts currently has a consensus rating of “Hold” and an average target price of $105.33.
NYSE GPC traded up $0.08 during trading on Friday, reaching $102.93. 349,273 shares of the company’s stock were exchanged, compared to its average volume of 898,336. Genuine Parts has a fifty-two week low of $90.37 and a fifty-two week high of $115.20. The firm has a market capitalization of $14.96 billion, a PE ratio of 18.12, a PEG ratio of 3.38 and a beta of 0.95. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.67.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $1.28 EPS for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.03). Genuine Parts had a return on equity of 23.46% and a net margin of 4.20%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.79 billion. During the same quarter in the previous year, the business posted $1.27 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. Research analysts anticipate that Genuine Parts will post 5.9 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a dividend of $0.7625 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.05 annualized dividend and a dividend yield of 2.96%. Genuine Parts’s dividend payout ratio is 53.70%.
In other news, insider Scott Sonnemaker purchased 5,000 shares of Genuine Parts stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average cost of $99.01 per share, for a total transaction of $495,050.00. Following the acquisition, the insider now directly owns 5,000 shares in the company, valued at $495,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.50% of the stock is owned by insiders.
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About Genuine Parts
Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.
Further Reading: Diversification
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