Northeast Financial Consultants Inc purchased a new position in Genuine Parts (NYSE:GPC) during the first quarter, Holdings Channel reports. The institutional investor purchased 3,000 shares of the specialty retailer’s stock, valued at approximately $336,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Clarfeld Financial Advisors LLC acquired a new position in shares of Genuine Parts during the 4th quarter valued at $26,000. Sontag Advisory LLC acquired a new position in shares of Genuine Parts during the 4th quarter valued at $29,000. Cutler Group LP lifted its position in shares of Genuine Parts by 967.7% during the 1st quarter. Cutler Group LP now owns 269 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 300 shares during the period. Lindbrook Capital LLC acquired a new position in shares of Genuine Parts during the 4th quarter valued at $31,000. Finally, Berman Capital Advisors LLC acquired a new position in shares of Genuine Parts during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 76.36% of the company’s stock.
GPC opened at $102.94 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.64 and a current ratio of 1.20. Genuine Parts has a 1-year low of $90.37 and a 1-year high of $115.20. The firm has a market cap of $14.96 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 3.38 and a beta of 0.95.
Genuine Parts (NYSE:GPC) last released 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). Genuine Parts had a return on equity of 23.46% and a net margin of 4.20%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.79 billion. During the same quarter in the previous year, the company posted $1.27 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts anticipate that Genuine Parts will post 5.9 earnings per share for the current year.
The firm 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 dividend of $0.7625 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.05 annualized dividend and a yield of 2.96%. Genuine Parts’s payout ratio is 53.70%.
In other Genuine Parts news, insider Scott Sonnemaker acquired 5,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were purchased at an average price of $99.01 per share, for a total transaction of $495,050.00. Following the completion of the acquisition, the insider now owns 5,000 shares in the company, valued at approximately $495,050. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.50% of the company’s stock.
A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Genuine Parts from a “hold” rating to a “sell” rating and set a $104.00 target price on the stock. in a research report on Monday, May 27th. ValuEngine upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. Stephens assumed coverage on shares of Genuine Parts in a research report on Thursday, May 30th. They set an “overweight” rating and a $114.00 target price on the stock. Finally, Evercore ISI assumed coverage on shares of Genuine Parts in a research report on Wednesday, March 20th. They set an “in-line” rating and a $110.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Genuine Parts currently has an average rating of “Hold” and an average target price of $105.33.
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Genuine Parts Profile
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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