Cribstone Capital Management LLC cut its position in shares of Genuine Parts Company (NYSE:GPC) by 4.1% during the second quarter, Holdings Channel reports. The firm owned 2,099 shares of the specialty retailer’s stock after selling 90 shares during the period. Cribstone Capital Management LLC’s holdings in Genuine Parts were worth $196,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of GPC. TLP Group LLC purchased a new stake in shares of Genuine Parts during the first quarter worth approximately $379,000. Union Bankshares Corp raised its stake in shares of Genuine Parts by 1.6% in the first quarter. Union Bankshares Corp now owns 38,733 shares of the specialty retailer’s stock worth $3,579,000 after buying an additional 623 shares during the period. Integrated Wealth Management raised its stake in shares of Genuine Parts by 2.0% in the first quarter. Integrated Wealth Management now owns 2,618 shares of the specialty retailer’s stock worth $242,000 after buying an additional 52 shares during the period. Hartford Financial Management Inc. raised its stake in shares of Genuine Parts by 0.9% in the first quarter. Hartford Financial Management Inc. now owns 17,166 shares of the specialty retailer’s stock worth $1,586,000 after buying an additional 150 shares during the period. Finally, Beacon Financial Group raised its stake in shares of Genuine Parts by 0.9% in the first quarter. Beacon Financial Group now owns 57,027 shares of the specialty retailer’s stock worth $5,265,000 after buying an additional 520 shares during the period. Institutional investors own 73.18% of the company’s stock.
Genuine Parts Company (NYSE GPC) traded down 1.23% during mid-day trading on Tuesday, hitting $83.04. The company had a trading volume of 965,502 shares. Genuine Parts Company has a 12-month low of $82.67 and a 12-month high of $105.18. The company’s 50 day moving average price is $92.14 and its 200-day moving average price is $94.39. The firm has a market capitalization of $12.24 billion, a PE ratio of 17.97 and a beta of 1.06.
Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Wednesday, April 19th. The specialty retailer reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.03. The company had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.85 billion. Genuine Parts had a net margin of 4.44% and a return on equity of 21.17%. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 EPS. On average, analysts forecast that Genuine Parts Company will post $4.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Friday, June 9th were given a $0.675 dividend. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $2.70 annualized dividend and a yield of 3.21%. Genuine Parts’s payout ratio is 58.44%.
GPC has been the topic of a number of research reports. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating in a report on Tuesday, April 11th. BidaskClub upgraded Genuine Parts from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $104.00 price target (up from $98.00) on shares of Genuine Parts in a report on Saturday, April 22nd. Royal Bank Of Canada boosted their price target on Genuine Parts from $94.00 to $96.00 and gave the company a “sector perform” rating in a report on Thursday, April 20th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $95.00 price target on shares of Genuine Parts in a report on Tuesday, April 18th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $97.86.
Genuine Parts Company Profile
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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