Laurel Wealth Advisors Inc. increased its stake in shares of Genuine Parts (NYSE:GPC) by 38.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,916 shares of the specialty retailer’s stock after purchasing an additional 807 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in Genuine Parts were worth $277,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Genuine Parts by 0.4% during the fourth quarter. BlackRock Inc. now owns 15,945,256 shares of the specialty retailer’s stock valued at $1,514,961,000 after purchasing an additional 58,937 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Genuine Parts by 0.4% in the third quarter. JPMorgan Chase & Co. now owns 7,180,911 shares of the specialty retailer’s stock valued at $683,552,000 after buying an additional 30,007 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Genuine Parts by 44.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,758,715 shares of the specialty retailer’s stock valued at $361,034,000 after buying an additional 1,160,200 shares during the period. Wells Fargo & Company MN lifted its holdings in Genuine Parts by 20.9% in the fourth quarter. Wells Fargo & Company MN now owns 3,659,074 shares of the specialty retailer’s stock valued at $347,649,000 after buying an additional 632,041 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Genuine Parts by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 1,706,848 shares of the specialty retailer’s stock valued at $161,856,000 after buying an additional 55,746 shares during the period. 75.31% of the stock is currently owned by institutional investors and hedge funds.
GPC traded down $1.40 during mid-day trading on Friday, hitting $89.26. The stock had a trading volume of 1,417,715 shares, compared to its average volume of 847,926. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.65 and a current ratio of 1.34. The firm has a market cap of $13,097.57, a PE ratio of 19.24, a price-to-earnings-growth ratio of 2.35 and a beta of 1.16. Genuine Parts has a 1-year low of $79.86 and a 1-year high of $107.75.
Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, February 20th. The specialty retailer reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.01. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.05 billion. Genuine Parts had a net margin of 3.78% and a return on equity of 20.48%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the business posted $1.02 earnings per share. equities analysts forecast that Genuine Parts will post 5.72 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Friday, March 9th were issued a $0.72 dividend. The ex-dividend date of this dividend was Thursday, March 8th. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.68. This represents a $2.88 annualized dividend and a yield of 3.23%. Genuine Parts’s dividend payout ratio (DPR) is 62.07%.
GPC has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $112.00 price objective on the stock in a report on Tuesday, February 6th. Royal Bank of Canada cut their price objective on shares of Genuine Parts to $100.00 and set a “market perform” rating on the stock in a report on Wednesday, February 21st. JPMorgan Chase restated a “neutral” rating and issued a $107.00 price objective (down from $114.00) on shares of Genuine Parts in a report on Wednesday, February 21st. Finally, Bank of America cut their price objective on shares of Genuine Parts from $90.00 to $80.00 and set an “underperform” rating on the stock in a report on Wednesday, February 21st. Four analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Genuine Parts currently has a consensus rating of “Hold” and a consensus target price of $97.71.
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About Genuine Parts
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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