Girard Partners LTD. raised its position in Genuine Parts Company (NYSE:GPC) by 19.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 33,556 shares of the specialty retailer’s stock after acquiring an additional 5,488 shares during the period. Girard Partners LTD.’s holdings in Genuine Parts were worth $3,210,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Synovus Financial Corp lifted its stake in shares of Genuine Parts by 10.1% in the 2nd quarter. Synovus Financial Corp now owns 263,927 shares of the specialty retailer’s stock worth $24,485,000 after acquiring an additional 24,129 shares during the period. Motco lifted its stake in shares of Genuine Parts by 1.9% in the 2nd quarter. Motco now owns 36,411 shares of the specialty retailer’s stock worth $3,378,000 after acquiring an additional 679 shares during the period. Rowland & Co. Investment Counsel ADV lifted its stake in shares of Genuine Parts by 6.3% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 68,624 shares of the specialty retailer’s stock worth $6,373,000 after acquiring an additional 4,066 shares during the period. Nuance Investments LLC lifted its stake in shares of Genuine Parts by 221.3% in the 2nd quarter. Nuance Investments LLC now owns 272,286 shares of the specialty retailer’s stock worth $25,257,000 after acquiring an additional 187,534 shares during the period. Finally, Homrich & Berg lifted its stake in shares of Genuine Parts by 9.9% in the 2nd quarter. Homrich & Berg now owns 8,057 shares of the specialty retailer’s stock worth $747,000 after acquiring an additional 727 shares during the period. Institutional investors own 74.69% of the company’s stock.
Shares of Genuine Parts Company (NYSE:GPC) traded up $0.14 on Monday, hitting $86.13. 572,700 shares of the stock were exchanged, compared to its average volume of 852,260. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.32 and a quick ratio of 0.62. The stock has a market cap of $12,630.00, a P/E ratio of 18.93, a PEG ratio of 3.29 and a beta of 1.11. Genuine Parts Company has a 1-year low of $79.86 and a 1-year high of $100.90.
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 business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the business posted $1.24 earnings per share. The business’s revenue was down 72.2% compared to the same quarter last year. equities analysts forecast that Genuine Parts Company will post 4.58 EPS for the current fiscal year.
Genuine Parts declared that its board has authorized a stock buyback plan on Monday, August 21st that allows the company to buyback 15,000,000 shares. This buyback authorization allows the specialty retailer to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 3.13%. Genuine Parts’s dividend payout ratio (DPR) is currently 60.54%.
A number of brokerages have recently issued reports on GPC. Zacks Investment Research downgraded shares of Genuine Parts from a “hold” rating to a “sell” rating in a report on Friday, October 20th. Gabelli reiterated a “buy” rating on shares of Genuine Parts in a report on Friday, October 20th. Royal Bank Of Canada cut their price target 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 price target 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 issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $96.00.
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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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