Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Genuine Parts (NYSE:GPC) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 591,999 shares of the specialty retailer’s stock after purchasing an additional 2,792 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Genuine Parts were worth $66,322,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Genuine Parts in the 4th quarter valued at about $132,716,000. Two Sigma Advisers LP increased its stake in Genuine Parts by 289.8% in the 4th quarter. Two Sigma Advisers LP now owns 872,561 shares of the specialty retailer’s stock valued at $83,783,000 after buying an additional 648,700 shares during the last quarter. Prudential Financial Inc. increased its stake in Genuine Parts by 312.3% in the 4th quarter. Prudential Financial Inc. now owns 744,508 shares of the specialty retailer’s stock valued at $71,487,000 after buying an additional 563,943 shares during the last quarter. Millennium Management LLC increased its stake in Genuine Parts by 137.4% in the 4th quarter. Millennium Management LLC now owns 859,401 shares of the specialty retailer’s stock valued at $82,520,000 after buying an additional 497,425 shares during the last quarter. Finally, Ronna Sue Cohen increased its stake in Genuine Parts by 11,103.0% in the 1st quarter. Ronna Sue Cohen now owns 385,943 shares of the specialty retailer’s stock valued at $386,000 after buying an additional 382,498 shares during the last quarter. 73.82% of the stock is currently owned by institutional investors.
NYSE:GPC opened at $98.59 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $14.40 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 3.26 and a beta of 0.97. Genuine Parts has a 52 week low of $89.87 and a 52 week high of $115.20.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $1.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.03). Genuine Parts had a return on equity of 23.46% and a net margin of 4.20%. The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter in the previous year, the business earned $1.27 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts forecast that Genuine Parts will post 5.9 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be paid a dividend of $0.7625 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.05 annualized dividend and a dividend yield of 3.09%. Genuine Parts’s payout ratio is currently 53.70%.
In related news, insider Scott Sonnemaker purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was bought at an average price of $99.01 per share, for a total transaction of $495,050.00. Following the purchase, the insider now directly owns 5,000 shares in the company, valued at approximately $495,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.50% of the company’s stock.
Several equities research analysts have commented on GPC shares. Evercore ISI started coverage on shares of Genuine Parts in a research note on Wednesday, March 20th. They issued an “in-line” rating and a $110.00 price objective for the company. Zacks Investment Research lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Tuesday, February 12th. Finally, ValuEngine lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average target price of $103.60.
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Genuine Parts Profile
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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