361 Capital LLC bought a new position in Genuine Parts Company (NYSE:GPC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 18,314 shares of the specialty retailer’s stock, valued at approximately $1,699,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Sun Life Financial INC increased its holdings in Genuine Parts by 15,400.0% in the 2nd quarter. Sun Life Financial INC now owns 1,085 shares of the specialty retailer’s stock worth $101,000 after acquiring an additional 1,078 shares in the last quarter. Global X Management Co. LLC increased its holdings in Genuine Parts by 29.3% in the 1st quarter. Global X Management Co. LLC now owns 1,644 shares of the specialty retailer’s stock worth $152,000 after acquiring an additional 373 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in Genuine Parts by 151.1% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,906 shares of the specialty retailer’s stock worth $177,000 after acquiring an additional 1,147 shares in the last quarter. Van ECK Associates Corp increased its holdings in Genuine Parts by 7.3% in the 1st quarter. Van ECK Associates Corp now owns 2,274 shares of the specialty retailer’s stock worth $210,000 after acquiring an additional 155 shares in the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in Genuine Parts in the 1st quarter worth approximately $213,000. 74.43% of the stock is owned by institutional investors.
Genuine Parts Company (GPC) traded down 0.21% during midday trading on Wednesday, reaching $95.32. 125,612 shares of the company traded hands. Genuine Parts Company has a 1-year low of $79.86 and a 1-year high of $100.90. The firm has a 50-day moving average of $88.38 and a 200-day moving average of $89.02. The stock has a market capitalization of $14.00 billion, a P/E ratio of 20.63 and a beta of 1.10.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.02). The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.28 earnings per share. On average, analysts predict that Genuine Parts Company will post $4.73 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 2.83%. The ex-dividend date was Thursday, September 7th. Genuine Parts’s dividend payout ratio is currently 58.32%.
Genuine Parts declared that its Board of Directors has authorized a stock repurchase plan on Monday, August 21st that authorizes the company to buyback 15,000,000 shares. This buyback authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.
Several equities research analysts recently issued reports on GPC shares. BidaskClub raised shares of Genuine Parts from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Jefferies Group LLC reissued a “hold” rating and issued a $95.00 target price on shares of Genuine Parts in a report on Sunday, September 10th. Goldman Sachs Group, Inc. (The) lowered shares of Genuine Parts from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $104.00 to $89.00 in a report on Thursday, July 6th. Zacks Investment Research raised shares of Genuine Parts from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Royal Bank Of Canada increased their target price on shares of Genuine Parts from $85.00 to $98.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Genuine Parts has an average rating of “Hold” and an average price target of $96.33.
Genuine Parts Profile
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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