Axa lowered its stake in shares of Genuine Parts (NYSE:GPC) by 25.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 94,100 shares of the specialty retailer’s stock after selling 32,100 shares during the period. Axa owned about 0.06% of Genuine Parts worth $8,941,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in GPC. Trustcore Financial Services LLC purchased a new stake in Genuine Parts during the fourth quarter worth about $107,000. Valeo Financial Advisors LLC boosted its holdings in Genuine Parts by 1,061.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,161 shares of the specialty retailer’s stock worth $110,000 after buying an additional 1,061 shares in the last quarter. Horan Capital Advisors LLC. purchased a new stake in Genuine Parts during the third quarter worth about $134,000. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in Genuine Parts during the fourth quarter worth about $192,000. Finally, IBM Retirement Fund acquired a new position in Genuine Parts during the third quarter worth about $200,000. 75.31% of the stock is currently owned by hedge funds and other institutional investors.
Genuine Parts (NYSE:GPC) opened at $92.37 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.74. The stock has a market cap of $13,540.00, a PE ratio of 20.44, a price-to-earnings-growth ratio of 2.44 and a beta of 1.21. Genuine Parts has a 52-week low of $79.86 and a 52-week high of $107.75.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Thursday, March 8th. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.68. Genuine Parts’s payout ratio is currently 63.72%.
A number of equities analysts have issued reports on GPC shares. Moffett Nathanson started coverage on shares of Genuine Parts in a research report on Monday, December 4th. They set a “sell” rating for the company. Zacks Investment Research upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $112.00 target price for the company in a research report on Tuesday, February 6th. JPMorgan Chase & Co. restated a “neutral” rating and set a $107.00 target price (down previously from $114.00) on shares of Genuine Parts in a research report on Wednesday, February 21st. Bank of America cut their target price on shares of Genuine Parts from $90.00 to $80.00 and set an “underperform” rating for the company in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada cut their target price on shares of Genuine Parts to $100.00 and set a “market perform” rating for the company in a research report on Wednesday, February 21st. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Genuine Parts has an average rating of “Hold” and an average price target of $97.71.
Genuine Parts Profile
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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