Global Retirement Partners LLC raised its holdings in Genuine Parts (NYSE:GPC) by 8.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,233 shares of the specialty retailer’s stock after buying an additional 175 shares during the period. Global Retirement Partners LLC’s holdings in Genuine Parts were worth $250,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in GPC. Clarfeld Financial Advisors LLC bought a new position in shares of Genuine Parts during the fourth quarter valued at about $26,000. Essex Savings Bank bought a new position in shares of Genuine Parts during the fourth quarter valued at about $27,000. Sontag Advisory LLC bought a new position in shares of Genuine Parts during the fourth quarter valued at about $29,000. Lindbrook Capital LLC bought a new position in shares of Genuine Parts during the fourth quarter valued at about $31,000. Finally, Berman Capital Advisors LLC bought a new position in shares of Genuine Parts during the fourth quarter valued at about $33,000. 75.68% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Scott Sonnemaker acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average price of $99.01 per share, for a total transaction of $495,050.00. Following the completion of the acquisition, the insider now owns 5,000 shares of the company’s stock, valued at approximately $495,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.50% of the company’s stock.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.03). Genuine Parts had a return on equity of 23.46% and a net margin of 4.20%. The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter last year, the business posted $1.27 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts anticipate that Genuine Parts will post 5.9 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a dividend of $0.7625 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.05 dividend on an annualized basis and a yield of 3.11%. Genuine Parts’s dividend payout ratio (DPR) is presently 53.70%.
A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Tuesday, February 12th. Evercore ISI assumed coverage on shares of Genuine Parts in a research report on Wednesday, March 20th. They set an “in-line” rating and a $110.00 price target on the stock. Finally, ValuEngine raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $103.60.
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Genuine Parts Profile
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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