Shares of Genuine Parts (NYSE:GPC) traded up 6% on Thursday . The company traded as high as $101.11 and last traded at $100.82. 2,860,341 shares were traded during mid-day trading, an increase of 240% from the average session volume of 842,201 shares. The stock had previously closed at $95.14.
A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. Royal Bank of Canada raised their price target on shares of Genuine Parts to $99.00 and gave the company a “sector perform” rating in a report on Thursday, July 12th. Finally, Wedbush raised their price target on shares of Genuine Parts from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, July 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $102.80.
The stock has a market cap of $14.59 billion, a P/E ratio of 20.78, a P/E/G ratio of 2.64 and a beta of 1.17. The company has a current ratio of 1.33, a quick ratio of 0.71 and a debt-to-equity ratio of 0.70.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, October 18th. The specialty retailer reported $1.48 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.48. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.71 billion. Genuine Parts had a net margin of 3.78% and a return on equity of 21.62%. Genuine Parts’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the firm posted $1.16 EPS. As a group, analysts predict that Genuine Parts will post 5.66 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 7th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Thursday, September 6th. Genuine Parts’s payout ratio is currently 62.07%.
In related news, insider James R. Neill sold 512 shares of the stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $97.94, for a total value of $50,145.28. Following the completion of the transaction, the insider now directly owns 5,661 shares of the company’s stock, valued at approximately $554,438.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Advisory Inc. purchased a new position in Genuine Parts during the 2nd quarter worth approximately $205,387,000. American International Group Inc. raised its position in Genuine Parts by 1.0% during the 2nd quarter. American International Group Inc. now owns 178,335 shares of the specialty retailer’s stock worth $16,369,000 after buying an additional 1,801 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Genuine Parts by 23.3% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,533,815 shares of the specialty retailer’s stock worth $324,369,000 after buying an additional 667,620 shares during the last quarter. Bank of America Corp DE raised its position in Genuine Parts by 318.5% during the 2nd quarter. Bank of America Corp DE now owns 7,036,209 shares of the specialty retailer’s stock worth $645,853,000 after buying an additional 5,354,849 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Genuine Parts by 3.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 978,807 shares of the specialty retailer’s stock worth $89,845,000 after buying an additional 30,313 shares during the last quarter. 76.62% of the stock is owned by hedge funds and other institutional investors.
Genuine Parts Company Profile (NYSE:GPC)
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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