WealthPLAN Partners LLC grew its stake in shares of Genuine Parts (NYSE:GPC) by 24.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,839 shares of the specialty retailer’s stock after buying an additional 9,282 shares during the period. Genuine Parts accounts for 0.9% of WealthPLAN Partners LLC’s investment portfolio, making the stock its 25th biggest position. WealthPLAN Partners LLC’s holdings in Genuine Parts were worth $4,298,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Genuine Parts by 0.4% during the fourth quarter. BlackRock Inc. now owns 15,945,256 shares of the specialty retailer’s stock worth $1,514,961,000 after buying an additional 58,937 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Genuine Parts by 0.5% in the first quarter. JPMorgan Chase & Co. now owns 6,993,996 shares of the specialty retailer’s stock worth $628,341,000 after acquiring an additional 38,039 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Genuine Parts by 1.3% in the first quarter. Wells Fargo & Company MN now owns 3,707,945 shares of the specialty retailer’s stock worth $333,122,000 after acquiring an additional 48,871 shares in the last quarter. Thomaspartners Inc. lifted its stake in shares of Genuine Parts by 3.1% in the first quarter. Thomaspartners Inc. now owns 2,195,581 shares of the specialty retailer’s stock worth $197,251,000 after acquiring an additional 66,677 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Genuine Parts by 369.3% in the first quarter. American Century Companies Inc. now owns 2,129,178 shares of the specialty retailer’s stock worth $191,285,000 after acquiring an additional 1,675,452 shares in the last quarter. 73.98% of the stock is owned by institutional investors.
Several research firms recently commented on GPC. Zacks Investment Research cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. Guggenheim started coverage on Genuine Parts in a report on Tuesday, April 17th. They issued a “neutral” rating for the company. Bank of America raised Genuine Parts from an “underperform” rating to a “neutral” rating and set a $96.00 price objective for the company in a report on Friday, April 13th. JPMorgan Chase & Co. reissued 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, Royal Bank of Canada lowered their price objective on Genuine Parts to $94.00 and set a “market perform” rating for the company in a report on Friday, April 20th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Genuine Parts currently has a consensus rating of “Hold” and an average target price of $99.14.
Shares of Genuine Parts traded up $0.07, hitting $94.43, during trading on Thursday, MarketBeat.com reports. 1,506 shares of the company traded hands, compared to its average volume of 929,435. The firm has a market capitalization of $13.99 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 2.54 and a beta of 1.17. Genuine Parts has a one year low of $79.86 and a one year high of $107.75. The company has a current ratio of 1.32, a quick ratio of 0.66 and a debt-to-equity ratio of 0.72.
Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, April 19th. The specialty retailer reported $1.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.05). The company had revenue of $4.59 billion for the quarter, compared to the consensus estimate of $4.48 billion. Genuine Parts had a net margin of 3.73% and a return on equity of 20.76%. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the company posted $1.08 earnings per share. analysts predict that Genuine Parts will post 5.64 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 8th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Thursday, June 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 62.07%.
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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