Benjamin F. Edwards & Company Inc. raised its stake in Genuine Parts Company (NYSE:GPC) by 0.3% during the first quarter, Holdings Channel reports. The institutional investor owned 7,359 shares of the specialty retailer’s stock after buying an additional 23 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Genuine Parts Company were worth $680,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Genuine Parts Company during the fourth quarter valued at about $159,718,000. State Street Corp boosted its position in Genuine Parts Company by 5.0% in the fourth quarter. State Street Corp now owns 8,539,360 shares of the specialty retailer’s stock valued at $815,858,000 after buying an additional 410,162 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in Genuine Parts Company by 427.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 284,896 shares of the specialty retailer’s stock valued at $27,263,000 after buying an additional 230,932 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in Genuine Parts Company during the fourth quarter valued at $22,052,000. Finally, Panagora Asset Management Inc. boosted its position in Genuine Parts Company by 39.3% in the third quarter. Panagora Asset Management Inc. now owns 661,702 shares of the specialty retailer’s stock valued at $66,468,000 after buying an additional 186,830 shares in the last quarter. Hedge funds and other institutional investors own 71.75% of the company’s stock.
Shares of Genuine Parts Company (NYSE:GPC) traded up 0.44% during midday trading on Friday, hitting $92.05. The company had a trading volume of 423,082 shares. The company has a 50-day moving average of $91.60 and a 200-day moving average of $94.85. Genuine Parts Company has a 12 month low of $86.61 and a 12 month high of $105.97. The company has a market capitalization of $13.57 billion, a PE ratio of 19.92 and a beta of 0.93.
Genuine Parts Company (NYSE:GPC) last released its quarterly earnings data on Wednesday, April 19th. The specialty retailer reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. Genuine Parts Company had a return on equity of 21.43% and a net margin of 4.57%. The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same period in the prior year, the firm posted $1.05 earnings per share. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts predict that Genuine Parts Company will post $4.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Friday, June 9th will be issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Wednesday, June 7th. Genuine Parts Company’s dividend payout ratio is presently 56.68%.
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GPC has been the subject of several research analyst reports. Jefferies Group LLC restated a “hold” rating and set a $95.00 price target on shares of Genuine Parts Company in a report on Tuesday, April 18th. Zacks Investment Research upgraded Genuine Parts Company from a “sell” rating to a “hold” rating in a report on Tuesday, April 11th. Goldman Sachs Group Inc upgraded Genuine Parts Company from a “sell” rating to a “neutral” rating and raised their price target for the company from $95.00 to $105.00 in a report on Thursday, January 19th. Finally, Royal Bank of Canada raised their price target on Genuine Parts Company from $94.00 to $96.00 and gave the company a “sector perform” rating in a report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Genuine Parts Company presently has a consensus rating of “Hold” and a consensus target price of $102.33.
About Genuine Parts Company
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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