Genuine Parts (NYSE:GPC) – Investment analysts at Wedbush reduced their FY2018 earnings per share estimates for shares of Genuine Parts in a research note issued on Wednesday. Wedbush analyst S. Basham now anticipates that the specialty retailer will post earnings per share of $5.63 for the year, down from their previous estimate of $6.26.
GPC has been the topic of several other reports. Royal Bank of Canada reduced their price objective on Genuine Parts to $100.00 and set a “market perform” rating on the stock in a research note on Wednesday. Zacks Investment Research raised Genuine Parts from a “hold” rating to a “buy” rating and set a $112.00 price objective on the stock in a research note on Tuesday, February 6th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $107.00 price objective (down from $114.00) on shares of Genuine Parts in a research note on Wednesday. Bank of America reduced their price objective on Genuine Parts from $90.00 to $80.00 and set an “underperform” rating on the stock in a research note on Wednesday. Finally, Moffett Nathanson started coverage on Genuine Parts in a research note on Monday, December 4th. They set a “sell” rating on the stock. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $97.71.
Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, February 20th. The specialty retailer reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.01. Genuine Parts had a return on equity of 20.48% and a net margin of 3.78%. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the previous year, the firm posted $1.02 earnings per share. The business’s revenue was up 11.3% compared to the same quarter last year.
A number of institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its holdings in Genuine Parts by 16.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,480 shares of the specialty retailer’s stock worth $331,000 after buying an additional 488 shares during the period. Chevy Chase Trust Holdings Inc. increased its position in shares of Genuine Parts by 0.4% during the fourth quarter. Chevy Chase Trust Holdings Inc. now owns 134,606 shares of the specialty retailer’s stock worth $12,789,000 after purchasing an additional 522 shares in the last quarter. Monroe Bank & Trust MI increased its position in shares of Genuine Parts by 5.4% during the fourth quarter. Monroe Bank & Trust MI now owns 10,908 shares of the specialty retailer’s stock worth $1,042,000 after purchasing an additional 558 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Genuine Parts by 9.3% during the third quarter. Private Advisor Group LLC now owns 7,130 shares of the specialty retailer’s stock worth $679,000 after purchasing an additional 605 shares in the last quarter. Finally, Mission Wealth Management LP increased its position in shares of Genuine Parts by 29.2% during the fourth quarter. Mission Wealth Management LP now owns 2,768 shares of the specialty retailer’s stock worth $263,000 after purchasing an additional 625 shares in the last quarter. Institutional investors own 74.65% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be issued a $0.72 dividend. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.08%. Genuine Parts’s payout ratio is presently 64.59%.
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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