Barings LLC purchased a new stake in shares of Genuine Parts (NYSE:GPC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,540 shares of the specialty retailer’s stock, valued at approximately $337,000.
Other hedge funds also recently made changes to their positions in the company. Horan Capital Advisors LLC. acquired a new position in Genuine Parts during the third quarter valued at approximately $134,000. IBM Retirement Fund acquired a new position in Genuine Parts during the third quarter valued at approximately $200,000. Savant Capital LLC acquired a new position in Genuine Parts during the third quarter valued at approximately $208,000. Bredin Investment LLC acquired a new position in Genuine Parts during the fourth quarter valued at approximately $217,000. Finally, Moors & Cabot Inc. acquired a new position in Genuine Parts during the third quarter valued at approximately $217,000. Institutional investors own 74.65% of the company’s stock.
Several research firms have recently weighed in on GPC. 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 report on Wednesday. Zacks Investment Research raised Genuine Parts from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a research report on Tuesday, February 6th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $107.00 price objective (down from $114.00) on shares of Genuine Parts in a research report on Wednesday. Bank of America reduced their price objective on Genuine Parts from $90.00 to $80.00 and set an “underperform” rating for the company in a research report on Wednesday. Finally, Moffett Nathanson began coverage on Genuine Parts in a research report on Monday, December 4th. They issued a “sell” rating for the company. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $97.71.
Shares of Genuine Parts (NYSE GPC) opened at $94.53 on Friday. Genuine Parts has a 12-month low of $79.86 and a 12-month high of $107.75. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.34 and a quick ratio of 0.62. The firm has a market capitalization of $13,624.79, a P/E ratio of 22.61, a PEG ratio of 2.46 and a beta of 1.14.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, February 20th. The specialty retailer reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.01. Genuine Parts had a return on equity of 20.48% and a net margin of 3.78%. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the prior year, the business earned $1.02 earnings per share. Genuine Parts’s revenue for the quarter was up 11.3% compared to the same quarter last year. sell-side analysts anticipate that Genuine Parts will post 5.68 EPS for the current fiscal year.
The firm 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 annualized dividend and a dividend yield of 3.05%. This is a boost from Genuine Parts’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Thursday, March 8th. Genuine Parts’s dividend payout ratio is currently 64.59%.
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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