Nissay Asset Management Corp Japan ADV cut its position in Genuine Parts (NYSE:GPC) by 8.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,560 shares of the specialty retailer’s stock after selling 2,179 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Genuine Parts were worth $2,751,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in GPC. Goelzer Investment Management Inc. acquired a new stake in Genuine Parts in the first quarter valued at $503,000. Stephens Inc. AR raised its holdings in Genuine Parts by 9.8% in the first quarter. Stephens Inc. AR now owns 43,061 shares of the specialty retailer’s stock valued at $4,824,000 after acquiring an additional 3,857 shares in the last quarter. California Public Employees Retirement System raised its holdings in Genuine Parts by 14.0% in the first quarter. California Public Employees Retirement System now owns 861,503 shares of the specialty retailer’s stock valued at $96,514,000 after acquiring an additional 105,784 shares in the last quarter. Foster Victor Wealth Advisors LLC raised its holdings in Genuine Parts by 26.0% in the first quarter. Foster Victor Wealth Advisors LLC now owns 5,302 shares of the specialty retailer’s stock valued at $594,000 after acquiring an additional 1,093 shares in the last quarter. Finally, Investment Management of Virginia LLC acquired a new stake in Genuine Parts in the first quarter valued at $204,000. Institutional investors and hedge funds own 75.68% of the company’s stock.
Several research firms recently issued reports on GPC. Zacks Investment Research cut shares of Genuine Parts from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. ValuEngine raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Tuesday, February 19th. Finally, Evercore ISI began coverage on shares of Genuine Parts in a report on Wednesday, March 20th. They issued an “in-line” rating and a $110.00 price target on the stock. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $103.60.
In other Genuine Parts news, insider Scott Sonnemaker bought 5,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were bought at an average cost of $99.01 per share, with a total value of $495,050.00. Following the completion of the acquisition, the insider now owns 5,000 shares of the company’s stock, valued at $495,050. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is currently owned by corporate insiders.
Shares of NYSE:GPC opened at $96.76 on Thursday. The firm has a market cap of $14.17 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 3.17 and a beta of 0.97. Genuine Parts has a 1-year low of $89.87 and a 1-year high of $115.20. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.64 and a current ratio of 1.20.
Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, April 18th. The specialty retailer reported $1.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.03). The business 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 firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the company posted $1.27 earnings per share. As a group, equities research analysts anticipate that Genuine Parts will post 5.9 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a dividend of $0.7625 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.05 dividend on an annualized basis and a dividend yield of 3.15%. Genuine Parts’s dividend payout ratio (DPR) is 53.70%.
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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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