Goldman Sachs Group started coverage on shares of Genuine Parts (NYSE:GPC) in a report issued on Thursday morning, BenzingaRatingsTable reports. The firm issued a neutral rating and a $107.00 price objective on the specialty retailer’s stock.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of GALP ENERGIA SG/ADR from a sell rating to a hold rating in a research note on Monday, May 27th. Stephens assumed coverage on shares of Genuine Parts in a research note on Thursday, May 30th. They set an overweight rating and a $114.00 target price for the company. Evercore ISI assumed coverage on shares of Polarityte in a research note on Wednesday, March 20th. They set an outperform rating and a $26.00 target price for the company. Finally, ValuEngine upgraded shares of Alleghany from a hold rating to a buy rating in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Genuine Parts presently has a consensus rating of Hold and an average price target of $106.67.
NYSE:GPC opened at $105.41 on Thursday. The stock has a fifty day simple moving average of $102.37. The firm has a market capitalization of $15.40 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 3.48 and a beta of 0.94. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.67. Genuine Parts has a 52 week low of $91.04 and a 52 week high of $115.20.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $1.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.03). The business had revenue of $4.74 billion during 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 business’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.27 EPS. As a group, research analysts expect that Genuine Parts will post 5.9 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were paid a dividend of $0.7625 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $3.05 dividend on an annualized basis and a dividend yield of 2.89%. Genuine Parts’s payout ratio is currently 53.70%.
In other news, insider Scott Sonnemaker bought 5,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average price of $99.01 per share, for a total transaction of $495,050.00. Following the completion of the purchase, the insider now owns 5,000 shares in the company, valued at approximately $495,050. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.50% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Comerica Securities Inc. bought a new position in Genuine Parts during the 4th quarter worth approximately $256,000. Mirae Asset Global Investments Co. Ltd. grew its position in Genuine Parts by 20.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,941 shares of the specialty retailer’s stock worth $475,000 after acquiring an additional 842 shares during the last quarter. Bessemer Group Inc. grew its position in Genuine Parts by 30.9% during the 4th quarter. Bessemer Group Inc. now owns 987 shares of the specialty retailer’s stock worth $95,000 after acquiring an additional 233 shares during the last quarter. Commonwealth Bank of Australia grew its position in Genuine Parts by 19.6% during the 4th quarter. Commonwealth Bank of Australia now owns 19,027 shares of the specialty retailer’s stock worth $1,823,000 after acquiring an additional 3,112 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Genuine Parts by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 904,189 shares of the specialty retailer’s stock worth $86,820,000 after acquiring an additional 22,731 shares during the last quarter. 76.32% of the stock is owned by hedge funds and other institutional investors.
Genuine Parts Company 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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