FDx Advisors Inc. boosted its stake in Genuine Parts (NYSE:GPC) by 48.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,936 shares of the specialty retailer’s stock after purchasing an additional 2,594 shares during the period. FDx Advisors Inc.’s holdings in Genuine Parts were worth $534,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of GPC. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Genuine Parts by 23.2% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,131,514 shares of the specialty retailer’s stock worth $412,835,000 after buying an additional 1,152,699 shares in the last quarter. Charles Schwab Investment Advisory Inc. grew its position in Genuine Parts by 4.1% during the 4th quarter. Charles Schwab Investment Advisory Inc. now owns 2,616,284 shares of the specialty retailer’s stock worth $277,928,000 after acquiring an additional 102,409 shares during the last quarter. Geode Capital Management LLC increased its holdings in Genuine Parts by 1.6% in the 1st quarter. Geode Capital Management LLC now owns 2,254,396 shares of the specialty retailer’s stock worth $151,491,000 after purchasing an additional 34,560 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Genuine Parts by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,474,004 shares of the specialty retailer’s stock worth $156,583,000 after purchasing an additional 8,603 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Genuine Parts during the fourth quarter valued at about $147,747,000. Hedge funds and other institutional investors own 77.44% of the company’s stock.
Shares of NYSE:GPC opened at $83.66 on Monday. The firm has a market cap of $12.07 billion, a P/E ratio of 20.45, a PEG ratio of 14.09 and a beta of 1.10. Genuine Parts has a 52-week low of $49.68 and a 52-week high of $108.58. The business’s 50 day simple moving average is $82.68 and its two-hundred day simple moving average is $86.78. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.65 and a current ratio of 1.21.
Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Wednesday, May 6th. The specialty retailer reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.20). The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.54 billion. Genuine Parts had a net margin of 3.11% and a return on equity of 21.54%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the business posted $1.28 earnings per share. On average, equities analysts forecast that Genuine Parts will post 3.96 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.78%. Genuine Parts’s dividend payout ratio is presently 55.54%.
Several research analysts have recently issued reports on GPC shares. S&P Equity Research lowered their price objective on Genuine Parts from $85.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Cfra reduced their price objective on shares of Genuine Parts from $100.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. JPMorgan Chase & Co. reduced their price target on Genuine Parts from $107.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 5th. Bank of America increased their price target on Genuine Parts from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Sunday, April 19th. Finally, Stephens lowered Genuine Parts from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $94.67.
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.
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