Fort L.P. raised its position in shares of Genuine Parts (NYSE:GPC) by 25.9% in the first quarter, HoldingsChannel.com reports. The firm owned 13,218 shares of the specialty retailer’s stock after purchasing an additional 2,717 shares during the quarter. Fort L.P.’s holdings in Genuine Parts were worth $1,481,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in GPC. Clarfeld Financial Advisors LLC acquired a new stake in Genuine Parts during the 4th quarter valued at approximately $26,000. Sontag Advisory LLC acquired a new stake in Genuine Parts during the 4th quarter valued at approximately $29,000. Cutler Group LP increased its position in Genuine Parts by 967.7% during the 1st quarter. Cutler Group LP now owns 269 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 300 shares during the period. Lindbrook Capital LLC acquired a new stake in Genuine Parts during the 4th quarter valued at approximately $31,000. Finally, Berman Capital Advisors LLC acquired a new stake in Genuine Parts during the 4th quarter valued at approximately $33,000. 76.36% of the stock is owned by institutional investors and hedge funds.
In related news, insider Scott Sonnemaker acquired 5,000 shares of Genuine Parts stock in a transaction dated Tuesday, May 7th. The stock was bought at an average price of $99.01 per share, with a total value of $495,050.00. Following the transaction, the insider now directly owns 5,000 shares in the company, valued at approximately $495,050. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 4.50% of the company’s stock.
Shares of GPC stock opened at $102.93 on Friday. The company has a market cap of $15.03 billion, a PE ratio of 18.12, a P/E/G ratio of 3.40 and a beta of 0.95. Genuine Parts has a 52 week low of $90.37 and a 52 week high of $115.20. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.20 and a quick ratio of 0.64.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $1.28 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.03). The company 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 last year, the business earned $1.27 EPS. On average, sell-side analysts expect that Genuine Parts will post 5.9 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be given a dividend of $0.7625 per share. This represents a $3.05 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Thursday, June 6th. Genuine Parts’s dividend payout ratio (DPR) is 53.70%.
GPC has been the subject of a number of recent analyst reports. ValuEngine raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. Evercore ISI began coverage on shares of Genuine Parts in a research report on Wednesday, March 20th. They set an “in-line” rating and a $110.00 price objective for the company. Zacks Investment Research downgraded shares of Genuine Parts from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. Finally, Stephens began coverage on shares of Genuine Parts in a research report on Thursday, May 30th. They set an “overweight” rating and a $114.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $105.33.
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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.
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