GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in Genuine Parts (NYSE:GPC) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,000 shares of the specialty retailer’s stock, valued at approximately $449,000.
Other large investors have also modified their holdings of the company. Trustcore Financial Services LLC acquired a new position in Genuine Parts in the 4th quarter worth approximately $107,000. Captrust Financial Advisors acquired a new position in Genuine Parts in the 4th quarter worth approximately $109,000. Valeo Financial Advisors LLC increased its holdings in Genuine Parts by 1,061.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,161 shares of the specialty retailer’s stock worth $110,000 after buying an additional 1,061 shares during the period. Bedel Financial Consulting Inc. acquired a new position in Genuine Parts in the 1st quarter worth approximately $116,000. Finally, Wagner Wealth Management LLC purchased a new stake in Genuine Parts in the 4th quarter worth approximately $117,000. Institutional investors own 73.98% of the company’s stock.
Several research firms have commented on GPC. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating in a research report on Monday. Royal Bank of Canada lowered their price objective on Genuine Parts to $100.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 21st. Bank of America lowered their price objective on Genuine Parts from $90.00 to $80.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 21st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $107.00 price objective (down previously from $114.00) on shares of Genuine Parts in a research report on Wednesday, February 21st. Finally, Guggenheim began coverage on Genuine Parts in a research report on Tuesday, April 17th. They issued a “neutral” rating on the stock. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $99.14.
Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, April 19th. The specialty retailer reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.05). Genuine Parts had a net margin of 3.73% and a return on equity of 20.76%. The business had revenue of $4.59 billion for the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter last year, the business earned $1.08 EPS. The company’s quarterly revenue was up 17.4% on a year-over-year basis. sell-side analysts expect that Genuine Parts will post 5.64 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 8th will be given a dividend of $0.72 per share. The ex-dividend date is Thursday, June 7th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.06%. Genuine Parts’s dividend payout ratio (DPR) is 62.07%.
Genuine Parts Company Profile
Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. 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 through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.
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