Bollard Group LLC increased its position in shares of Genuine Parts Company (NYSE:GPC) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,506 shares of the specialty retailer’s stock after buying an additional 171 shares during the period. Bollard Group LLC’s holdings in Genuine Parts were worth $2,180,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Viking Fund Management LLC increased its stake in Genuine Parts by 12.0% in the second quarter. Viking Fund Management LLC now owns 28,000 shares of the specialty retailer’s stock worth $2,597,000 after buying an additional 3,000 shares in the last quarter. Sit Investment Associates Inc. increased its stake in Genuine Parts by 4.2% in the second quarter. Sit Investment Associates Inc. now owns 334,194 shares of the specialty retailer’s stock worth $31,000,000 after buying an additional 13,449 shares in the last quarter. Aperio Group LLC increased its stake in Genuine Parts by 8.9% in the second quarter. Aperio Group LLC now owns 66,129 shares of the specialty retailer’s stock worth $6,134,000 after buying an additional 5,417 shares in the last quarter. Hendershot Investments Inc. increased its stake in Genuine Parts by 51.2% in the second quarter. Hendershot Investments Inc. now owns 16,256 shares of the specialty retailer’s stock worth $1,508,000 after buying an additional 5,505 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in Genuine Parts by 5.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 36,560 shares of the specialty retailer’s stock worth $3,391,000 after buying an additional 2,000 shares in the last quarter. 73.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of Genuine Parts Company (NYSE GPC) traded up 1.29% during trading on Friday, reaching $82.74. The company’s stock had a trading volume of 770,366 shares. The firm has a market cap of $12.20 billion, a PE ratio of 17.91 and a beta of 1.07. Genuine Parts Company has a 12 month low of $80.86 and a 12 month high of $105.18. The stock’s 50 day moving average price is $89.76 and its 200-day moving average price is $93.19.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by $0.02. Genuine Parts had a return on equity of 21.17% and a net margin of 4.44%. The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the previous year, the business earned $1.28 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts predict that Genuine Parts Company will post $4.78 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Friday, June 9th were paid a $0.675 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $2.70 dividend on an annualized basis and a yield of 3.31%. Genuine Parts’s dividend payout ratio is 58.44%.
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A number of research firms recently issued reports on GPC. Gabelli raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday. BidaskClub downgraded Genuine Parts from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) downgraded Genuine Parts from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $104.00 to $89.00 in a research report on Thursday, July 6th. Wedbush reissued a “neutral” rating on shares of Genuine Parts in a research report on Thursday, July 6th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $96.00 price target on shares of Genuine Parts in a research report on Thursday, May 25th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Genuine Parts has an average rating of “Hold” and an average price target of $97.86.
About Genuine Parts
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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