City Holding Co. decreased its position in shares of Genuine Parts (NYSE:GPC) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,582 shares of the specialty retailer’s stock after selling 565 shares during the quarter. City Holding Co.’s holdings in Genuine Parts were worth $1,522,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Clarfeld Financial Advisors LLC purchased a new stake in shares of Genuine Parts during the fourth quarter worth approximately $26,000. Essex Savings Bank purchased a new stake in shares of Genuine Parts during the fourth quarter worth approximately $27,000. Sontag Advisory LLC purchased a new stake in shares of Genuine Parts during the fourth quarter worth approximately $29,000. Lindbrook Capital LLC purchased a new stake in shares of Genuine Parts during the fourth quarter worth approximately $31,000. Finally, Berman Capital Advisors LLC purchased a new stake in shares of Genuine Parts during the fourth quarter worth approximately $33,000. 76.03% of the stock is owned by hedge funds and other institutional investors.
In other Genuine Parts news, insider Scott Sonnemaker purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were acquired at an average price of $99.01 per share, with a total value of $495,050.00. Following the purchase, the insider now directly owns 5,000 shares in the company, valued at approximately $495,050. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.50% of the company’s stock.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $1.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.03). Genuine Parts had a net margin of 4.20% and a return on equity of 23.46%. The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.79 billion. During the same period last year, the company earned $1.27 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts anticipate that Genuine Parts will post 5.9 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be paid a $0.7625 dividend. This represents a $3.05 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Thursday, June 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 53.70%.
Several analysts recently commented on GPC shares. Zacks Investment Research cut Genuine Parts from a “hold” rating to a “sell” rating in a research report on Thursday, May 2nd. ValuEngine cut Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Evercore ISI started coverage on Genuine Parts in a research report on Wednesday, March 20th. They set an “in-line” rating and a $110.00 price target for the company. Finally, Wedbush reissued a “neutral” rating on shares of Genuine Parts in a research note on Tuesday, January 15th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $103.60.
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About Genuine Parts
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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