Saturna Capital CORP lifted its stake in shares of Genuine Parts (NYSE:GPC) by 0.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 393,390 shares of the specialty retailer’s stock after purchasing an additional 100 shares during the period. Saturna Capital CORP owned 0.27% of Genuine Parts worth $49,752,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of GPC. Hexagon Capital Partners LLC boosted its holdings in shares of Genuine Parts by 179.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 243 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 156 shares during the last quarter. E Fund Management Co. Ltd. acquired a new position in shares of Genuine Parts during the 1st quarter worth approximately $29,000. Marshall Wace North America L.P. acquired a new position in shares of Genuine Parts during the 1st quarter worth approximately $44,000. Exchange Traded Concepts LLC boosted its holdings in shares of Genuine Parts by 280.6% during the 2nd quarter. Exchange Traded Concepts LLC now owns 373 shares of the specialty retailer’s stock worth $47,000 after purchasing an additional 275 shares during the last quarter. Finally, Sandy Spring Bank boosted its holdings in shares of Genuine Parts by 147.4% during the 2nd quarter. Sandy Spring Bank now owns 423 shares of the specialty retailer’s stock worth $54,000 after purchasing an additional 252 shares during the last quarter. Institutional investors and hedge funds own 76.76% of the company’s stock.
In other news, Director John R. Holder bought 2,000 shares of the business’s stock in a transaction on Friday, August 13th. The shares were bought at an average price of $124.93 per share, with a total value of $249,860.00. Following the completion of the transaction, the director now directly owns 17,482 shares in the company, valued at $2,184,026.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is owned by insiders.
Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, July 22nd. The specialty retailer reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.20. The company had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.34 billion. Genuine Parts had a return on equity of 28.92% and a net margin of 4.55%. The firm’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.32 earnings per share. Sell-side analysts forecast that Genuine Parts will post 6.4 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 3rd will be given a $0.815 dividend. This represents a $3.26 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Thursday, September 2nd. Genuine Parts’s payout ratio is 61.86%.
Separately, Zacks Investment Research upgraded Genuine Parts from a “hold” rating to a “buy” rating and set a $135.00 target price on the stock in a report on Tuesday, July 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $129.17.
Genuine Parts Profile
Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group and Industrial Parts Group. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.
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