Genuine Parts (NYSE:GPC) declared a quarterly dividend on Monday, August 20th, RTT News reports. Investors of record on Friday, September 7th will be given a dividend of 0.72 per share by the specialty retailer on Monday, October 1st. This represents a $2.88 dividend on an annualized basis and a yield of 2.89%.
Genuine Parts has raised its dividend by an average of 5.8% annually over the last three years and has increased its dividend every year for the last 61 years. Genuine Parts has a dividend payout ratio of 50.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Genuine Parts to earn $5.91 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 48.7%.
NYSE GPC traded up $0.64 during trading hours on Monday, reaching $99.53. The company’s stock had a trading volume of 9,468 shares, compared to its average volume of 875,355. The stock has a market capitalization of $14.39 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 2.61 and a beta of 1.20. Genuine Parts has a 1-year low of $81.21 and a 1-year high of $107.75. The company has a current ratio of 1.33, a quick ratio of 0.71 and a debt-to-equity ratio of 0.70.
Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, July 19th. The specialty retailer reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.01. The company had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.69 billion. Genuine Parts had a return on equity of 21.62% and a net margin of 3.78%. Genuine Parts’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 EPS. equities analysts predict that Genuine Parts will post 5.66 EPS for the current fiscal year.
A number of equities analysts recently weighed in on the company. Wedbush upped their price target on Genuine Parts from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, July 20th. Zacks Investment Research cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Finally, Royal Bank of Canada upped their price target on Genuine Parts to $99.00 and gave the stock a “sector perform” rating in a report on Thursday, July 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $101.50.
In other Genuine Parts news, insider James R. Neill sold 512 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $97.94, for a total transaction of $50,145.28. Following the completion of the sale, the insider now directly owns 5,661 shares in the company, valued at approximately $554,438.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.10% of the stock is currently owned by insiders.
Genuine Parts Company Profile
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.
See Also: Outstanding Shares
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.