Deutsche Bank AG lessened its holdings in Genuine Parts (NYSE:GPC) by 45.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 684,774 shares of the specialty retailer’s stock after selling 579,501 shares during the quarter. Deutsche Bank AG owned 0.47% of Genuine Parts worth $65,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in GPC. Caisse DE Depot ET Placement DU Quebec grew its stake in Genuine Parts by 44.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,758,715 shares of the specialty retailer’s stock valued at $361,034,000 after purchasing an additional 1,160,200 shares during the period. Wells Fargo & Company MN grew its stake in Genuine Parts by 43.7% in the 3rd quarter. Wells Fargo & Company MN now owns 3,027,033 shares of the specialty retailer’s stock valued at $289,536,000 after purchasing an additional 921,258 shares during the period. American Century Companies Inc. grew its stake in Genuine Parts by 3,148.4% in the 3rd quarter. American Century Companies Inc. now owns 330,098 shares of the specialty retailer’s stock valued at $31,574,000 after purchasing an additional 319,936 shares during the period. Deprince Race & Zollo Inc. bought a new position in Genuine Parts in the 3rd quarter valued at $24,008,000. Finally, Amundi Pioneer Asset Management Inc. bought a new position in Genuine Parts in the 3rd quarter valued at $17,809,000. Hedge funds and other institutional investors own 75.31% of the company’s stock.
Genuine Parts (NYSE GPC) opened at $91.73 on Wednesday. Genuine Parts has a 1 year low of $79.86 and a 1 year high of $107.75. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.65 and a current ratio of 1.34. The company has a market capitalization of $13,553.87, a price-to-earnings ratio of 21.95, a PEG ratio of 2.43 and a beta of 1.22.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Thursday, March 8th. This is a boost from Genuine Parts’s previous quarterly dividend of $0.68. Genuine Parts’s dividend payout ratio is currently 68.90%.
GPC has been the subject of a number of recent analyst reports. Royal Bank of Canada reduced their price objective on Genuine Parts to $100.00 and set a “market perform” rating for the company in a research note on Wednesday, February 21st. Zacks Investment Research downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. restated a “neutral” rating and issued a $107.00 price objective (down previously from $114.00) on shares of Genuine Parts in a research note on Wednesday, February 21st. Bank of America dropped their price target on Genuine Parts from $90.00 to $80.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 21st. Finally, Moffett Nathanson started coverage on Genuine Parts in a research report on Monday, December 4th. They set a “sell” rating on the stock. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $97.71.
Genuine Parts Company 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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