Virtu Financial LLC purchased a new stake in shares of Genuine Parts (NYSE:GPC) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,797 shares of the specialty retailer’s stock, valued at approximately $201,000.
Several other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Genuine Parts in the 4th quarter worth $132,716,000. Two Sigma Advisers LP grew its holdings in shares of Genuine Parts by 289.8% in the 4th quarter. Two Sigma Advisers LP now owns 872,561 shares of the specialty retailer’s stock worth $83,783,000 after acquiring an additional 648,700 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Genuine Parts by 312.3% in the 4th quarter. Prudential Financial Inc. now owns 744,508 shares of the specialty retailer’s stock worth $71,487,000 after acquiring an additional 563,943 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Genuine Parts by 137.4% in the 4th quarter. Millennium Management LLC now owns 859,401 shares of the specialty retailer’s stock worth $82,520,000 after acquiring an additional 497,425 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Genuine Parts by 38.3% in the 3rd quarter. Morgan Stanley now owns 1,233,869 shares of the specialty retailer’s stock worth $122,645,000 after acquiring an additional 341,980 shares during the last quarter. Institutional investors own 76.17% of the company’s stock.
Shares of GPC stock opened at $103.58 on Monday. Genuine Parts has a 1-year low of $87.35 and a 1-year high of $115.20. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.67. The firm has a market cap of $15.13 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 3.38 and a beta of 1.04.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.03). Genuine Parts had a net margin of 4.20% and a return on equity of 23.46%. The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter in the prior year, the firm posted $1.27 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that Genuine Parts will post 5.9 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders 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 2.94%. Genuine Parts’s dividend payout ratio is 53.70%.
A number of equities analysts recently issued reports on the company. Zacks Investment Research cut Genuine Parts from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. ValuEngine upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Tuesday, February 19th. Wedbush restated a “neutral” rating on shares of Genuine Parts in a report on Tuesday, January 15th. Evercore ISI assumed coverage on Genuine Parts in a report on Wednesday, March 20th. They issued an “in-line” rating and a $110.00 target price on the stock. Finally, Bank of America upgraded Genuine Parts from an “underperform” rating to a “neutral” rating in a report on Wednesday, January 9th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $103.60.
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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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