Sentry Investment Management LLC trimmed its stake in Genuine Parts (NYSE:GPC) by 8.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,590 shares of the specialty retailer’s stock after selling 763 shares during the quarter. Sentry Investment Management LLC’s holdings in Genuine Parts were worth $962,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc boosted its stake in shares of Genuine Parts by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 14,954,369 shares of the specialty retailer’s stock worth $1,486,465,000 after acquiring an additional 191,348 shares during the period. BlackRock Inc. lifted its holdings in Genuine Parts by 2.1% during the 4th quarter. BlackRock Inc. now owns 14,536,577 shares of the specialty retailer’s stock worth $1,395,802,000 after purchasing an additional 299,754 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Genuine Parts by 9.1% during the 4th quarter. Geode Capital Management LLC now owns 1,965,765 shares of the specialty retailer’s stock worth $188,434,000 after purchasing an additional 163,768 shares during the last quarter. Northern Trust Corp lifted its holdings in Genuine Parts by 5.0% during the 4th quarter. Northern Trust Corp now owns 1,732,859 shares of the specialty retailer’s stock worth $166,389,000 after purchasing an additional 83,030 shares during the last quarter. Finally, Norges Bank acquired a new stake in Genuine Parts during the 4th quarter worth approximately $132,716,000. Hedge funds and other institutional investors own 73.82% of the company’s stock.
NYSE GPC traded down $0.63 during midday trading on Friday, hitting $97.61. The company had a trading volume of 71,884 shares, compared to its average volume of 956,829. The stock has a market capitalization of $14.44 billion, a PE ratio of 17.18, a P/E/G ratio of 3.26 and a beta of 0.97. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.20 and a quick ratio of 0.64. Genuine Parts has a twelve month low of $89.87 and a twelve month high of $115.20.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $1.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.03). The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.79 billion. Genuine Parts had a net margin of 4.20% and a return on equity of 23.46%. Genuine Parts’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.27 earnings per share. On average, equities analysts expect that Genuine Parts will post 5.9 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $0.7625 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.05 annualized dividend and a yield of 3.12%. Genuine Parts’s dividend payout ratio is presently 53.70%.
In related news, insider Scott Sonnemaker acquired 5,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was purchased at an average cost of $99.01 per share, with a total value of $495,050.00. Following the acquisition, the insider now directly owns 5,000 shares of the company’s stock, valued at $495,050. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.50% of the stock is owned by insiders.
Several analysts recently weighed in on GPC shares. Zacks Investment Research cut Genuine Parts from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. ValuEngine cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Finally, Evercore ISI started coverage on Genuine Parts in a report on Wednesday, March 20th. They set an “in-line” rating and a $110.00 price target for the company. Six analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average target price of $103.60.
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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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