Commerce Bank boosted its position in Genuine Parts (NYSE:GPC) by 0.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 94,527 shares of the specialty retailer’s stock after acquiring an additional 144 shares during the period. Commerce Bank owned 0.07% of Genuine Parts worth $6,364,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. CSat Investment Advisory L.P. raised its stake in shares of Genuine Parts by 19.0% in the fourth quarter. CSat Investment Advisory L.P. now owns 652 shares of the specialty retailer’s stock worth $69,000 after purchasing an additional 104 shares during the last quarter. Midwest Professional Planners LTD. raised its stake in shares of Genuine Parts by 4.6% in the fourth quarter. Midwest Professional Planners LTD. now owns 2,707 shares of the specialty retailer’s stock worth $288,000 after purchasing an additional 118 shares during the last quarter. Evoke Wealth LLC raised its stake in shares of Genuine Parts by 19.0% in the fourth quarter. Evoke Wealth LLC now owns 752 shares of the specialty retailer’s stock worth $80,000 after purchasing an additional 120 shares during the last quarter. Wesbanco Bank Inc. raised its stake in shares of Genuine Parts by 3.5% in the fourth quarter. Wesbanco Bank Inc. now owns 3,719 shares of the specialty retailer’s stock worth $395,000 after purchasing an additional 127 shares during the last quarter. Finally, Marino Stram & Associates LLC raised its stake in shares of Genuine Parts by 3.6% in the fourth quarter. Marino Stram & Associates LLC now owns 3,891 shares of the specialty retailer’s stock worth $413,000 after purchasing an additional 136 shares during the last quarter. Institutional investors and hedge funds own 78.59% of the company’s stock.
NYSE:GPC opened at $77.22 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 0.65. The business has a fifty day simple moving average of $72.77 and a two-hundred day simple moving average of $90.04. Genuine Parts has a 1 year low of $49.68 and a 1 year high of $108.58. The company has a market capitalization of $11.13 billion, a P/E ratio of 18.88, a P/E/G ratio of 12.89 and a beta of 1.09.
Genuine Parts (NYSE:GPC) last released its earnings results on Wednesday, May 6th. The specialty retailer reported $0.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.20). Genuine Parts had a return on equity of 21.54% and a net margin of 3.11%. The firm had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the prior year, the business earned $1.28 earnings per share. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. As a group, analysts anticipate that Genuine Parts will post 3.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Thursday, June 4th. Genuine Parts’s dividend payout ratio is currently 55.54%.
In other news, Director Thomas Gallagher bought 5,000 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was acquired at an average cost of $55.23 per share, with a total value of $276,150.00. Following the completion of the transaction, the director now directly owns 627,213 shares of the company’s stock, valued at approximately $34,640,973.99. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.00% of the company’s stock.
GPC has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their price objective on Genuine Parts from $107.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Cfra lowered their price objective on Genuine Parts from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. S&P Equity Research decreased their price target on Genuine Parts from $85.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. TheStreet downgraded Genuine Parts from a “b” rating to a “c+” rating in a research report on Wednesday, February 19th. Finally, Stephens downgraded Genuine Parts from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $94.67.
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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