Ontario Teachers Pension Plan Board trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 71.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,145 shares of the specialty retailer’s stock after selling 35,329 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Genuine Parts were worth $952,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of GPC. Norges Bank purchased a new position in shares of Genuine Parts during the 4th quarter worth approximately $147,747,000. Cullen Capital Management LLC increased its stake in shares of Genuine Parts by 98.1% during the 1st quarter. Cullen Capital Management LLC now owns 1,253,267 shares of the specialty retailer’s stock worth $84,382,000 after purchasing an additional 620,612 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Genuine Parts by 73.1% during the 4th quarter. Stifel Financial Corp now owns 919,129 shares of the specialty retailer’s stock worth $97,652,000 after purchasing an additional 388,100 shares in the last quarter. Bessemer Group Inc. boosted its position in Genuine Parts by 64.1% during the first quarter. Bessemer Group Inc. now owns 640,208 shares of the specialty retailer’s stock worth $43,105,000 after acquiring an additional 250,015 shares during the last quarter. Finally, RNC Capital Management LLC acquired a new stake in Genuine Parts during the fourth quarter worth approximately $26,136,000. 78.59% of the stock is owned by institutional investors and hedge funds.
In other Genuine Parts news, Director Thomas Gallagher bought 5,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were acquired at an average price of $55.23 per share, with a total value of $276,150.00. Following the purchase, the director now owns 627,213 shares in the company, valued at approximately $34,640,973.99. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 3.00% of the company’s stock.
Shares of GPC opened at $77.22 on Friday. The firm has a market cap of $11.13 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 12.89 and a beta of 1.09. The company’s fifty day moving average is $72.77 and its two-hundred day moving average is $90.04. Genuine Parts has a fifty-two week low of $49.68 and a fifty-two week high of $108.58. The company has a quick ratio of 0.65, a current ratio of 1.21 and a debt-to-equity ratio of 1.03.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Wednesday, May 6th. The specialty retailer reported $0.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.20). The company had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.54 billion. Genuine Parts had a net margin of 3.11% and a return on equity of 21.54%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.28 EPS. As a group, equities research analysts anticipate that Genuine Parts will post 3.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Thursday, June 4th. Genuine Parts’s dividend payout ratio is presently 55.54%.
A number of brokerages recently issued reports on GPC. Cfra decreased their target price on shares of Genuine Parts from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, May 6th. Bank of America raised their target price on shares of Genuine Parts from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Sunday, April 19th. JPMorgan Chase & Co. decreased their target price on shares of Genuine Parts from $107.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 5th. Stephens lowered shares of Genuine Parts from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 1st. Finally, TheStreet lowered shares of Genuine Parts from a “b” rating to a “c+” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $94.67.
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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