Rhumbline Advisers boosted its holdings in shares of Genuine Parts (NYSE:GPC – Get Rating) by 7.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,474 shares of the specialty retailer’s stock after buying an additional 18,235 shares during the period. Rhumbline Advisers owned approximately 0.18% of Genuine Parts worth $34,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in GPC. Royce & Associates LP increased its holdings in shares of Genuine Parts by 41.0% in the first quarter. Royce & Associates LP now owns 27,500 shares of the specialty retailer’s stock valued at $3,466,000 after purchasing an additional 8,000 shares during the period. Foundations Investment Advisors LLC increased its holdings in shares of Genuine Parts by 23.1% in the second quarter. Foundations Investment Advisors LLC now owns 3,188 shares of the specialty retailer’s stock valued at $431,000 after purchasing an additional 599 shares during the period. Veritable L.P. increased its holdings in shares of Genuine Parts by 16.6% in the first quarter. Veritable L.P. now owns 4,695 shares of the specialty retailer’s stock valued at $592,000 after purchasing an additional 667 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Genuine Parts in the first quarter valued at about $212,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Genuine Parts by 6.7% in the second quarter. Nisa Investment Advisors LLC now owns 31,738 shares of the specialty retailer’s stock valued at $4,221,000 after purchasing an additional 2,000 shares during the period. 78.27% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on GPC. StockNews.com raised Genuine Parts from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 20th. Wedbush increased their price objective on Genuine Parts from $140.00 to $150.00 in a report on Thursday, July 28th.
Genuine Parts Stock Down 0.0 %
Genuine Parts (NYSE:GPC – Get Rating) last issued its earnings results on Thursday, October 20th. The specialty retailer reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.18. Genuine Parts had a return on equity of 31.91% and a net margin of 5.55%. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the prior year, the business earned $1.88 earnings per share. The company’s revenue was up 17.8% compared to the same quarter last year. On average, sell-side analysts predict that Genuine Parts will post 8.16 EPS for the current year.
Genuine Parts Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 2nd will be paid a $0.895 dividend. The ex-dividend date is Thursday, December 1st. This represents a $3.58 dividend on an annualized basis and a dividend yield of 1.95%. Genuine Parts’s payout ratio is 42.98%.
About Genuine Parts
Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and accessory and supply items used by various automotive aftermarket customers, 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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