Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Genuine Parts (NYSE:GPC) by 17.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,967 shares of the specialty retailer’s stock after purchasing an additional 1,308 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Genuine Parts were worth $893,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of GPC. First Trust Advisors LP lifted its holdings in shares of Genuine Parts by 5.9% during the 1st quarter. First Trust Advisors LP now owns 351,993 shares of the specialty retailer’s stock valued at $39,434,000 after purchasing an additional 19,660 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Genuine Parts during the 1st quarter valued at $44,000. Advisory Services Network LLC lifted its holdings in shares of Genuine Parts by 7.0% during the 1st quarter. Advisory Services Network LLC now owns 2,773 shares of the specialty retailer’s stock valued at $311,000 after purchasing an additional 182 shares during the last quarter. FMR LLC lifted its holdings in shares of Genuine Parts by 0.3% during the 1st quarter. FMR LLC now owns 176,981 shares of the specialty retailer’s stock valued at $19,827,000 after purchasing an additional 591 shares during the last quarter. Finally, DNB Asset Management AS lifted its holdings in shares of Genuine Parts by 6.0% during the 2nd quarter. DNB Asset Management AS now owns 63,949 shares of the specialty retailer’s stock valued at $6,624,000 after purchasing an additional 3,644 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.
Several analysts have recently commented on GPC shares. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating and set a $103.00 price objective for the company in a report on Wednesday, July 24th. Raymond James initiated coverage on Genuine Parts in a research note on Monday, October 7th. They issued a “market perform” rating for the company. Bank of America raised their target price on Genuine Parts from $100.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Jefferies Financial Group set a $102.00 target price on Genuine Parts and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. reduced their target price on Genuine Parts from $114.00 to $104.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Genuine Parts presently has a consensus rating of “Hold” and a consensus target price of $105.50.
Shares of GPC stock opened at $101.35 on Monday. The firm has a market capitalization of $14.45 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 3.25 and a beta of 0.95. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.26 and a quick ratio of 0.68. The business has a fifty day moving average of $95.97 and a 200 day moving average of $99.49. Genuine Parts has a 1 year low of $87.26 and a 1 year high of $115.20.
Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, October 17th. The specialty retailer reported $1.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.03. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.03 billion. Genuine Parts had a return on equity of 23.20% and a net margin of 4.14%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $1.48 EPS. As a group, equities research analysts expect that Genuine Parts will post 5.66 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a $0.7625 dividend. The ex-dividend date was Thursday, September 5th. This represents a $3.05 dividend on an annualized basis and a yield of 3.01%. Genuine Parts’s dividend payout ratio (DPR) is 53.70%.
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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