WINTON GROUP Ltd decreased its position in shares of Genuine Parts Company (NYSE:GPC) by 61.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,356 shares of the specialty retailer’s stock after selling 61,844 shares during the period. WINTON GROUP Ltd’s holdings in Genuine Parts were worth $3,558,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of GPC. BlackRock Inc. boosted its stake in shares of Genuine Parts by 2,130.1% during the first quarter. BlackRock Inc. now owns 14,442,228 shares of the specialty retailer’s stock valued at $1,334,608,000 after purchasing an additional 13,794,624 shares during the period. JPMorgan Chase & Co. lifted its stake in Genuine Parts by 13.9% in the second quarter. JPMorgan Chase & Co. now owns 7,150,904 shares of the specialty retailer’s stock worth $663,318,000 after acquiring an additional 874,466 shares during the period. Vanguard Group Inc. lifted its stake in Genuine Parts by 4.7% in the first quarter. Vanguard Group Inc. now owns 15,429,332 shares of the specialty retailer’s stock worth $1,425,824,000 after acquiring an additional 690,398 shares during the period. Janus Henderson Group PLC lifted its stake in Genuine Parts by 2,560.0% in the second quarter. Janus Henderson Group PLC now owns 532,525 shares of the specialty retailer’s stock worth $49,397,000 after acquiring an additional 512,505 shares during the period. Finally, Prudential Financial Inc. lifted its stake in Genuine Parts by 175.1% in the second quarter. Prudential Financial Inc. now owns 701,644 shares of the specialty retailer’s stock worth $65,085,000 after acquiring an additional 446,560 shares during the period. Institutional investors and hedge funds own 74.32% of the company’s stock.
Shares of Genuine Parts Company (NYSE:GPC) traded down 0.73% during trading on Friday, reaching $88.75. 107,808 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 stock’s 50 day moving average is $91.30 and its 200 day moving average is $89.16. The company has a market capitalization of $13.03 billion, a price-to-earnings ratio of 19.21 and a beta of 1.10.
Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, October 19th. The specialty retailer reported $1.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.12). Genuine Parts had a net margin of 4.16% and a return on equity of 20.49%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter last year, the business earned $1.24 earnings per share. Genuine Parts’s quarterly revenue was down 72.2% on a year-over-year basis. On average, analysts forecast that Genuine Parts Company will post $4.58 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were paid a $0.675 dividend. The ex-dividend date was Thursday, September 7th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.02%. Genuine Parts’s payout ratio is presently 60.40%.
Genuine Parts declared that its board has approved a share repurchase program on Monday, August 21st that allows the company to repurchase 15,000,000 outstanding shares. This repurchase authorization allows the specialty retailer to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
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A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Genuine Parts from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Gabelli reaffirmed a “buy” rating on shares of Genuine Parts in a research note on Friday, October 20th. Royal Bank Of Canada reduced their target price on shares of Genuine Parts from $98.00 to $95.00 and set a “sector perform” rating for the company in a report on Friday, October 20th. Jefferies Group LLC reiterated a “hold” rating and issued a $95.00 target price on shares of Genuine Parts in a report on Thursday, October 12th. Finally, BidaskClub upgraded shares of Genuine Parts from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Genuine Parts currently has an average rating of “Hold” and an average target price of $96.00.
Genuine Parts Company 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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