Cubist Systematic Strategies LLC raised its stake in shares of Genuine Parts (NYSE:GPC) by 25.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 7,094 shares of the specialty retailer’s stock after purchasing an additional 1,423 shares during the period. Cubist Systematic Strategies LLC’s holdings in Genuine Parts were worth $637,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Wagner Wealth Management LLC purchased a new position in shares of Genuine Parts in the 4th quarter worth approximately $117,000. Captrust Financial Advisors purchased a new position in shares of Genuine Parts in the 4th quarter worth approximately $109,000. Bedel Financial Consulting Inc. purchased a new position in shares of Genuine Parts in the 1st quarter worth approximately $116,000. We Are One Seven LLC purchased a new position in shares of Genuine Parts in the 4th quarter worth approximately $177,000. Finally, HRT Financial LLC purchased a new position in shares of Genuine Parts in the 1st quarter worth approximately $218,000. Hedge funds and other institutional investors own 73.94% of the company’s stock.
NYSE:GPC opened at $92.56 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 0.66 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $13.65 billion, a P/E ratio of 19.95, a P/E/G ratio of 2.48 and a beta of 1.17. Genuine Parts has a 12 month low of $79.86 and a 12 month high of $107.75.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, April 19th. The specialty retailer reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.05). The company had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $4.48 billion. Genuine Parts had a return on equity of 20.76% and a net margin of 3.73%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the firm posted $1.08 EPS. sell-side analysts expect that Genuine Parts will post 5.64 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 8th will be issued a $0.72 dividend. The ex-dividend date is Thursday, June 7th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.11%. Genuine Parts’s dividend payout ratio (DPR) is presently 62.07%.
GPC has been the topic of a number of research analyst reports. Bank of America upgraded Genuine Parts from an “underperform” rating to a “neutral” rating and set a $96.00 target price on the stock in a research note on Friday, April 13th. Zacks Investment Research downgraded Genuine Parts from a “hold” rating to a “sell” rating in a research note on Wednesday, April 25th. Royal Bank of Canada cut their target price on Genuine Parts to $94.00 and set a “market perform” rating on the stock in a research note on Friday, April 20th. Finally, Guggenheim initiated coverage on Genuine Parts in a research note on Tuesday, April 17th. They issued a “neutral” rating on the stock. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Genuine Parts has an average rating of “Hold” and an average price target of $99.14.
Genuine Parts Company Profile
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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