Korea Investment CORP trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 53.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,730 shares of the specialty retailer’s stock after selling 1,961 shares during the period. Korea Investment CORP’s holdings in Genuine Parts were worth $166,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of GPC. Private Advisor Group LLC grew its position in Genuine Parts by 49.5% in the third quarter. Private Advisor Group LLC now owns 6,521 shares of the specialty retailer’s stock worth $648,000 after acquiring an additional 2,158 shares in the last quarter. Dupont Capital Management Corp boosted its position in Genuine Parts by 13.7% during the third quarter. Dupont Capital Management Corp now owns 7,137 shares of the specialty retailer’s stock valued at $709,000 after buying an additional 862 shares during the period. ING Groep NV purchased a new stake in Genuine Parts during the third quarter valued at about $263,000. SG Americas Securities LLC boosted its position in Genuine Parts by 171.3% during the third quarter. SG Americas Securities LLC now owns 41,083 shares of the specialty retailer’s stock valued at $4,084,000 after buying an additional 25,938 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Genuine Parts by 3.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 480,690 shares of the specialty retailer’s stock valued at $47,781,000 after buying an additional 15,205 shares during the period. Institutional investors and hedge funds own 74.76% of the company’s stock.
NYSE GPC opened at $107.05 on Monday. The company has a quick ratio of 0.67, a current ratio of 1.28 and a debt-to-equity ratio of 0.70. Genuine Parts has a 12-month low of $85.80 and a 12-month high of $112.18. The stock has a market cap of $15.62 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 3.46 and a beta of 1.03.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, February 19th. The specialty retailer reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.03. Genuine Parts had a net margin of 4.33% and a return on equity of 23.45%. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same period in the prior year, the business posted $1.12 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts predict that Genuine Parts will post 5.94 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be given a dividend of $0.7625 per share. This represents a $3.05 annualized dividend and a yield of 2.85%. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.72. The ex-dividend date is Thursday, March 7th. Genuine Parts’s dividend payout ratio is presently 53.70%.
Several analysts have issued reports on GPC shares. Bank of America upgraded shares of Genuine Parts from an “underperform” rating to a “neutral” rating in a research report on Wednesday, January 9th. Zacks Investment Research lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Tuesday, February 12th. Wedbush restated a “neutral” rating on shares of Genuine Parts in a research report on Tuesday, January 15th. Finally, ValuEngine upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Genuine Parts has a consensus rating of “Hold” and an average price target of $102.00.
About Genuine Parts
Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. 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 through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.
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