Meadow Creek Investment Management LLC raised its position in Genuine Parts (NYSE:GPC) by 6.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,172 shares of the specialty retailer’s stock after acquiring an additional 782 shares during the period. Meadow Creek Investment Management LLC’s holdings in Genuine Parts were worth $1,117,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its stake in Genuine Parts by 87.8% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,613 shares of the specialty retailer’s stock valued at $148,000 after acquiring an additional 754 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Genuine Parts in the second quarter valued at approximately $158,000. Creative Financial Designs Inc. ADV boosted its stake in Genuine Parts by 50.3% in the second quarter. Creative Financial Designs Inc. ADV now owns 1,828 shares of the specialty retailer’s stock valued at $168,000 after acquiring an additional 612 shares in the last quarter. Wagner Wealth Management LLC lifted its stake in shares of Genuine Parts by 78.0% during the first quarter. Wagner Wealth Management LLC now owns 1,869 shares of the specialty retailer’s stock worth $168,000 after buying an additional 819 shares during the period. Finally, Wedbush Securities Inc. acquired a new stake in shares of Genuine Parts during the second quarter worth $201,000. Institutional investors own 78.11% of the company’s stock.
NYSE:GPC opened at $100.19 on Wednesday. Genuine Parts has a 12 month low of $83.53 and a 12 month high of $107.75. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.33 and a quick ratio of 0.71. The firm has a market cap of $14.65 billion, a PE ratio of 21.59, a P/E/G ratio of 2.65 and a beta of 1.18.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, July 19th. The specialty retailer reported $1.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.01. Genuine Parts had a net margin of 3.78% and a return on equity of 21.62%. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.69 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. equities analysts predict that Genuine Parts will post 5.66 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 7th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $2.88 annualized dividend and a dividend yield of 2.87%. Genuine Parts’s payout ratio is currently 62.07%.
In related news, insider James R. Neill sold 512 shares of the firm’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $97.94, for a total transaction of $50,145.28. Following the completion of the transaction, the insider now owns 5,661 shares of the company’s stock, valued at $554,438.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.10% of the company’s stock.
Several research firms have recently commented on GPC. Wedbush lifted their price objective on shares of Genuine Parts from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, July 20th. Zacks Investment Research downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Finally, Royal Bank of Canada lifted their price objective on shares of Genuine Parts to $99.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $101.50.
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.
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