Amalgamated Bank Decreases Stake in Genuine Parts (NYSE:GPC)

Amalgamated Bank reduced its stake in Genuine Parts (NYSE:GPCGet Rating) by 6.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,871 shares of the specialty retailer’s stock after selling 2,680 shares during the quarter. Amalgamated Bank’s holdings in Genuine Parts were worth $4,773,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank acquired a new position in Genuine Parts in the 4th quarter worth approximately $184,165,000. Capital World Investors acquired a new position in Genuine Parts in the 1st quarter worth approximately $124,130,000. Vanguard Group Inc. increased its holdings in Genuine Parts by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 17,088,101 shares of the specialty retailer’s stock worth $2,153,442,000 after buying an additional 481,039 shares during the period. State Street Corp increased its holdings in Genuine Parts by 3.6% in the 4th quarter. State Street Corp now owns 8,081,541 shares of the specialty retailer’s stock worth $1,139,431,000 after buying an additional 284,554 shares during the period. Finally, Panagora Asset Management Inc. increased its holdings in Genuine Parts by 926.1% in the 1st quarter. Panagora Asset Management Inc. now owns 213,771 shares of the specialty retailer’s stock worth $26,939,000 after buying an additional 192,938 shares during the period. 78.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GPC has been the topic of several research reports. Wedbush increased their price target on shares of Genuine Parts from $140.00 to $150.00 in a report on Thursday, July 28th. StockNews.com upgraded shares of Genuine Parts from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Evercore ISI cut their price target on shares of Genuine Parts to $135.00 in a report on Thursday, June 9th. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $140.20.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $157.15 on Wednesday. The stock has a market capitalization of $22.23 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 1.94 and a beta of 0.97. Genuine Parts has a 12 month low of $115.63 and a 12 month high of $164.99. The firm’s 50 day simple moving average is $153.21 and its 200-day simple moving average is $139.27. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.17 and a quick ratio of 0.58.

Genuine Parts (NYSE:GPCGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The specialty retailer reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.30 billion. Genuine Parts had a net margin of 5.38% and a return on equity of 31.67%. The business’s revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the company earned $1.74 EPS. Analysts expect that Genuine Parts will post 7.97 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be paid a dividend of $0.895 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $3.58 dividend on an annualized basis and a dividend yield of 2.28%. Genuine Parts’s payout ratio is 46.37%.

Genuine Parts Company Profile

(Get Rating)

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and accessory and supply items used by various automotive aftermarket customers, 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.

See Also

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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