Shell Asset Management Co. cut its stake in shares of Genuine Parts (NYSE:GPC) by 38.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,717 shares of the specialty retailer’s stock after selling 23,914 shares during the quarter. Shell Asset Management Co.’s holdings in Genuine Parts were worth $3,583,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in shares of Genuine Parts by 0.4% during the third quarter. JPMorgan Chase & Co. now owns 7,180,911 shares of the specialty retailer’s stock valued at $683,552,000 after acquiring an additional 30,007 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Genuine Parts by 44.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,758,715 shares of the specialty retailer’s stock valued at $361,034,000 after acquiring an additional 1,160,200 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Genuine Parts by 20.9% during the fourth quarter. Wells Fargo & Company MN now owns 3,659,074 shares of the specialty retailer’s stock valued at $347,649,000 after acquiring an additional 632,041 shares during the period. Gamco Investors INC. ET AL lifted its holdings in shares of Genuine Parts by 2.4% during the third quarter. Gamco Investors INC. ET AL now owns 1,846,311 shares of the specialty retailer’s stock valued at $176,600,000 after acquiring an additional 43,503 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Genuine Parts by 7.2% in the third quarter. Legal & General Group Plc now owns 892,300 shares of the specialty retailer’s stock valued at $85,349,000 after buying an additional 59,895 shares in the last quarter. 74.65% of the stock is owned by institutional investors.
GPC has been the subject of a number of research reports. Moffett Nathanson initiated coverage on Genuine Parts in a research note on Monday, December 4th. They issued a “sell” rating for the company. Zacks Investment Research upgraded Genuine Parts from a “hold” rating to a “buy” rating and set a $112.00 target price for the company in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $98.40.
Shares of Genuine Parts (NYSE:GPC) opened at $94.67 on Wednesday. Genuine Parts has a 12 month low of $79.86 and a 12 month high of $107.75. The firm has a market capitalization of $14,636.43, a price-to-earnings ratio of 21.94, a PEG ratio of 2.19 and a beta of 1.14. The company has a quick ratio of 0.62, a current ratio of 1.32 and a debt-to-equity ratio of 0.16.
Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, February 20th. The specialty retailer reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.01. Genuine Parts had a return on equity of 20.49% and a net margin of 4.16%. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the company posted $1.02 earnings per share. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. sell-side analysts predict that Genuine Parts will post 4.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be paid a $0.72 dividend. The ex-dividend date is Thursday, March 8th. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.68. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.04%. Genuine Parts’s dividend payout ratio (DPR) is 60.40%.
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About Genuine Parts
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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