Perella Weinberg Partners Capital Management LP purchased a new stake in Genuine Parts (NYSE:GPC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,681 shares of the specialty retailer’s stock, valued at approximately $1,981,000.
Several other hedge funds also recently bought and sold shares of GPC. Norges Bank acquired a new position in shares of Genuine Parts in the 4th quarter valued at $132,716,000. Two Sigma Advisers LP lifted its stake in shares of Genuine Parts by 289.8% in the 4th quarter. Two Sigma Advisers LP now owns 872,561 shares of the specialty retailer’s stock valued at $83,783,000 after purchasing an additional 648,700 shares during the period. Prudential Financial Inc. lifted its stake in shares of Genuine Parts by 312.3% in the 4th quarter. Prudential Financial Inc. now owns 744,508 shares of the specialty retailer’s stock valued at $71,487,000 after purchasing an additional 563,943 shares during the period. Millennium Management LLC lifted its stake in shares of Genuine Parts by 137.4% in the 4th quarter. Millennium Management LLC now owns 859,401 shares of the specialty retailer’s stock valued at $82,520,000 after purchasing an additional 497,425 shares during the period. Finally, Ronna Sue Cohen lifted its stake in shares of Genuine Parts by 11,103.0% in the 1st quarter. Ronna Sue Cohen now owns 385,943 shares of the specialty retailer’s stock valued at $386,000 after purchasing an additional 382,498 shares during the period. 75.68% of the stock is currently owned by institutional investors.
In other Genuine Parts news, insider Scott Sonnemaker acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were acquired at an average price of $99.01 per share, with a total value of $495,050.00. Following the purchase, the insider now owns 5,000 shares of the company’s stock, valued at approximately $495,050. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.50% of the company’s stock.
A number of research analysts have recently weighed in on the company. Wedbush reissued a “neutral” rating on shares of Genuine Parts in a research note on Tuesday, January 15th. Zacks Investment Research downgraded Genuine Parts from a “hold” rating to a “sell” rating in a research note on Thursday, May 2nd. Evercore ISI started coverage on Genuine Parts in a research note on Wednesday, March 20th. They set an “in-line” rating and a $110.00 price objective on the stock. Finally, ValuEngine raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Tuesday, February 19th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $103.60.
Shares of Genuine Parts stock opened at $96.76 on Wednesday. The firm has a market cap of $14.17 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 3.17 and a beta of 0.97. Genuine Parts has a 12 month low of $89.87 and a 12 month high of $115.20. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.64 and a current ratio of 1.20.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $1.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.03). The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.79 billion. Genuine Parts had a return on equity of 23.46% and a net margin of 4.20%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.27 EPS. On average, analysts expect that Genuine Parts will post 5.9 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be paid a dividend of $0.7625 per share. This represents a $3.05 annualized dividend and a yield of 3.15%. The ex-dividend date is Thursday, June 6th. Genuine Parts’s payout ratio is presently 53.70%.
WARNING: “17,681 Shares in Genuine Parts (GPC) Purchased by Perella Weinberg Partners Capital Management LP” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this report can be accessed at https://www.dispatchtribunal.com/2019/05/15/17681-shares-in-genuine-parts-gpc-purchased-by-perella-weinberg-partners-capital-management-lp.html.
About Genuine Parts
Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. 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; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.
Further Reading: Average Daily Trade Volume – What You Need to Know
Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts (NYSE:GPC).
Receive News & Ratings for Genuine Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts and related companies with MarketBeat.com's FREE daily email newsletter.