Genuine Parts Sees Unusually High Options Volume (GPC)

Genuine Parts (NYSE:GPC) was the recipient of unusually large options trading on Wednesday. Stock traders acquired 1,229 put options on the company. This represents an increase of 1,207% compared to the typical volume of 94 put options.

Shares of NYSE:GPC opened at $91.75 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.66 and a current ratio of 1.32. Genuine Parts has a 12-month low of $79.86 and a 12-month high of $107.75. The firm has a market cap of $13.47 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 2.45 and a beta of 1.17.

Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, April 19th. The specialty retailer reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.05). Genuine Parts had a net margin of 3.73% and a return on equity of 20.76%. The firm had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.48 billion. During the same period last year, the firm earned $1.08 earnings per share. Genuine Parts’s revenue for the quarter was up 17.4% compared to the same quarter last year. sell-side analysts forecast that Genuine Parts will post 5.64 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 8th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.14%. The ex-dividend date is Thursday, June 7th. Genuine Parts’s dividend payout ratio (DPR) is currently 62.07%.

GPC has been the topic of several research reports. Zacks Investment Research raised Genuine Parts from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a report on Tuesday, February 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $107.00 price target (down previously from $114.00) on shares of Genuine Parts in a report on Wednesday, February 21st. Bank of America dropped their price target on Genuine Parts from $90.00 to $80.00 and set an “underperform” rating on the stock in a report on Wednesday, February 21st. Royal Bank of Canada dropped their price target on Genuine Parts to $100.00 and set a “market perform” rating on the stock in a report on Wednesday, February 21st. Finally, Guggenheim initiated coverage on Genuine Parts in a report on Tuesday, April 17th. They issued a “neutral” rating on the stock. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $99.14.

A number of large investors have recently made changes to their positions in GPC. Bank of Montreal Can raised its stake in Genuine Parts by 29.7% during the 4th quarter. Bank of Montreal Can now owns 96,129 shares of the specialty retailer’s stock valued at $9,133,000 after purchasing an additional 22,002 shares during the period. National Pension Service raised its stake in Genuine Parts by 4.6% during the 4th quarter. National Pension Service now owns 168,489 shares of the specialty retailer’s stock valued at $16,008,000 after purchasing an additional 7,455 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Genuine Parts by 6.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 804,233 shares of the specialty retailer’s stock valued at $76,411,000 after purchasing an additional 49,168 shares during the period. Oakbrook Investments LLC acquired a new stake in Genuine Parts during the 4th quarter valued at $600,000. Finally, State of Alaska Department of Revenue raised its stake in Genuine Parts by 87.6% during the 4th quarter. State of Alaska Department of Revenue now owns 20,130 shares of the specialty retailer’s stock valued at $1,911,000 after purchasing an additional 9,400 shares during the period. 73.84% of the stock is currently owned by institutional investors.

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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