Cetera Investment Advisers increased its stake in Genuine Parts (NYSE:GPC – Free Report) by 105.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,169 shares of the specialty retailer’s stock after purchasing an additional 13,962 shares during the quarter. Cetera Investment Advisers’ holdings in Genuine Parts were worth $4,598,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Summit X LLC raised its position in Genuine Parts by 3.3% in the second quarter. Summit X LLC now owns 6,515 shares of the specialty retailer’s stock worth $1,103,000 after acquiring an additional 211 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Genuine Parts by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 937,936 shares of the specialty retailer’s stock worth $158,713,000 after acquiring an additional 21,304 shares in the last quarter. Fiera Capital Corp raised its position in Genuine Parts by 11.1% in the second quarter. Fiera Capital Corp now owns 3,000 shares of the specialty retailer’s stock worth $508,000 after acquiring an additional 300 shares in the last quarter. ICW Investment Advisors LLC raised its position in Genuine Parts by 3.9% in the second quarter. ICW Investment Advisors LLC now owns 7,298 shares of the specialty retailer’s stock worth $1,235,000 after acquiring an additional 273 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC raised its position in Genuine Parts by 18.7% in the second quarter. BNP Paribas Arbitrage SNC now owns 109,248 shares of the specialty retailer’s stock worth $18,488,000 after acquiring an additional 17,204 shares in the last quarter. 77.51% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several analysts have issued reports on the company. Wedbush cut their price objective on Genuine Parts from $160.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, October 20th. UBS Group assumed coverage on Genuine Parts in a report on Thursday, October 12th. They set a “neutral” rating and a $160.00 price objective on the stock. Stephens cut their price objective on Genuine Parts from $172.00 to $168.00 and set an “equal weight” rating on the stock in a report on Friday, July 21st. JPMorgan Chase & Co. boosted their price objective on Genuine Parts from $184.00 to $189.00 and gave the stock an “overweight” rating in a report on Monday, October 16th. Finally, Evercore ISI upped their target price on Genuine Parts from $160.00 to $165.00 and gave the company an “in-line” rating in a report on Friday, September 8th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $168.11.
Genuine Parts Trading Down 0.0 %
Shares of NYSE GPC opened at $137.41 on Friday. The stock has a market cap of $19.26 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.57 and a beta of 0.94. The business has a 50 day simple moving average of $140.25 and a 200 day simple moving average of $153.21. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $187.73. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.58 and a current ratio of 1.16.
Genuine Parts (NYSE:GPC – Get Free Report) last announced its quarterly earnings results on Thursday, October 19th. The specialty retailer reported $2.49 EPS for the quarter, beating the consensus estimate of $2.42 by $0.07. The business had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.93 billion. Genuine Parts had a return on equity of 32.22% and a net margin of 5.44%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.23 EPS. On average, research analysts predict that Genuine Parts will post 9.28 earnings per share for the current fiscal year.
Genuine Parts Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.80 dividend on an annualized basis and a yield of 2.77%. Genuine Parts’s payout ratio is currently 42.99%.
About Genuine Parts
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, and individuals.
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