Xact Kapitalforvaltning AB raised its holdings in shares of Genuine Parts (NYSE:GPC) by 6.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,920 shares of the specialty retailer’s stock after acquiring an additional 1,942 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Genuine Parts were worth $2,688,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. Millennium Management LLC grew its stake in Genuine Parts by 1,249.9% during the 1st quarter. Millennium Management LLC now owns 167,503 shares of the specialty retailer’s stock valued at $15,048,000 after acquiring an additional 155,094 shares in the last quarter. WealthPLAN Partners LLC grew its stake in Genuine Parts by 24.1% during the 1st quarter. WealthPLAN Partners LLC now owns 47,839 shares of the specialty retailer’s stock valued at $4,298,000 after acquiring an additional 9,282 shares in the last quarter. Verition Fund Management LLC purchased a new position in Genuine Parts during the 1st quarter valued at about $288,000. Amundi Pioneer Asset Management Inc. grew its stake in Genuine Parts by 0.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 286,907 shares of the specialty retailer’s stock valued at $25,776,000 after acquiring an additional 2,279 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in Genuine Parts by 25.1% during the 1st quarter. Cubist Systematic Strategies LLC now owns 7,094 shares of the specialty retailer’s stock valued at $637,000 after acquiring an additional 1,423 shares in the last quarter. 73.94% of the stock is currently owned by institutional investors.
Shares of Genuine Parts opened at $93.04 on Monday, MarketBeat Ratings reports. The stock has a market cap of $13.65 billion, a PE ratio of 20.05, a PEG ratio of 2.48 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.32 and a quick ratio of 0.66. Genuine Parts has a 52-week low of $79.86 and a 52-week high of $107.75.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, April 19th. The specialty retailer reported $1.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.05). The firm had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.48 billion. Genuine Parts had a net margin of 3.73% and a return on equity of 20.76%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 earnings per share. equities analysts expect that Genuine Parts will post 5.64 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 8th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $2.88 annualized dividend and a yield of 3.10%. Genuine Parts’s dividend payout ratio (DPR) is currently 62.07%.
Several research firms have weighed in on GPC. Zacks Investment Research raised Genuine Parts from a “sell” rating to a “hold” rating in a research note on Monday, June 11th. Guggenheim started coverage on Genuine Parts in a research note on Tuesday, April 17th. They set a “neutral” rating on the stock. Bank of America upgraded Genuine Parts from an “underperform” rating to a “neutral” rating and set a $96.00 price target for the company in a report on Friday, April 13th. Finally, Royal Bank of Canada reduced their price target on Genuine Parts to $94.00 and set a “market perform” rating for the company in a report on Friday, April 20th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Genuine Parts currently has a consensus rating of “Hold” and a consensus price target of $99.14.
About Genuine Parts
Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. 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 through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.
Receive News & Ratings for Genuine Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts and related companies with MarketBeat.com's FREE daily email newsletter.