Central Bank & Trust Co. bought a new position in shares of Genuine Parts (NYSE:GPC) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 502 shares of the specialty retailer’s stock, valued at approximately $56,000.
Several other institutional investors also recently modified their holdings of the company. Strs Ohio lifted its holdings in Genuine Parts by 4.0% in the first quarter. Strs Ohio now owns 22,523 shares of the specialty retailer’s stock valued at $2,523,000 after acquiring an additional 860 shares during the last quarter. Mycio Wealth Partners LLC lifted its holdings in Genuine Parts by 29.4% in the first quarter. Mycio Wealth Partners LLC now owns 3,165 shares of the specialty retailer’s stock valued at $355,000 after acquiring an additional 720 shares during the last quarter. Community Bank & Trust Waco Texas acquired a new position in Genuine Parts in the first quarter valued at approximately $217,000. Oakbrook Investments LLC acquired a new position in Genuine Parts in the first quarter valued at approximately $232,000. Finally, Pennsylvania Trust Co acquired a new position in Genuine Parts in the first quarter valued at approximately $898,000. Institutional investors and hedge funds own 76.12% of the company’s stock.
A number of research firms recently commented on GPC. Wedbush reiterated a “neutral” rating on shares of Genuine Parts in a report on Tuesday, January 15th. Zacks Investment Research cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th. Evercore ISI began coverage on Genuine Parts in a report on Wednesday, March 20th. They issued an “in-line” rating and a $110.00 price objective on the stock. ValuEngine upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Tuesday, February 19th. Finally, Bank of America upgraded Genuine Parts from an “underperform” rating to a “neutral” rating in a report on Wednesday, January 9th. Six investment analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average target price of $103.60.
GPC opened at $103.65 on Tuesday. Genuine Parts has a one year low of $87.35 and a one year high of $115.20. The company has a market capitalization of $15.39 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 3.42 and a beta of 1.04. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.67 and a current ratio of 1.20.
Genuine Parts (NYSE:GPC) last announced its earnings results 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). The firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.79 billion. Genuine Parts had a net margin of 4.20% and a return on equity of 23.46%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.27 EPS. As a group, analysts anticipate that Genuine Parts will post 5.94 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a $0.7625 dividend. This represents a $3.05 dividend on an annualized basis and a yield of 2.94%. Genuine Parts’s payout ratio is 53.70%.
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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