WINTON GROUP Ltd cut its holdings in Genuine Parts (NYSE:GPC) by 59.4% in the 4th quarter, HoldingsChannel reports. The fund owned 3,573 shares of the specialty retailer’s stock after selling 5,236 shares during the period. WINTON GROUP Ltd’s holdings in Genuine Parts were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in GPC. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Genuine Parts by 17.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 69,226 shares of the specialty retailer’s stock valued at $6,622,000 after acquiring an additional 10,179 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Genuine Parts by 9.3% in the third quarter. Victory Capital Management Inc. now owns 100,797 shares of the specialty retailer’s stock valued at $9,641,000 after acquiring an additional 8,557 shares in the last quarter. State of Wisconsin Investment Board lifted its stake in Genuine Parts by 5.7% in the third quarter. State of Wisconsin Investment Board now owns 135,893 shares of the specialty retailer’s stock valued at $12,998,000 after purchasing an additional 7,291 shares during the last quarter. American Century Companies Inc. lifted its stake in Genuine Parts by 3,148.4% in the third quarter. American Century Companies Inc. now owns 330,098 shares of the specialty retailer’s stock valued at $31,574,000 after purchasing an additional 319,936 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Genuine Parts by 37.2% in the third quarter. BNP Paribas Arbitrage SA now owns 104,952 shares of the specialty retailer’s stock valued at $10,039,000 after purchasing an additional 28,431 shares during the last quarter. 75.31% of the stock is owned by institutional investors.
GPC has been the topic of several research analyst reports. Moffett Nathanson initiated coverage on Genuine Parts in a research note on Monday, December 4th. They issued a “sell” rating on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $107.00 price objective (down previously from $114.00) on shares of Genuine Parts in a research note on Wednesday, February 21st. Zacks Investment Research upgraded Genuine Parts from a “hold” rating to a “buy” rating and set a $112.00 price objective on the stock in a research note on Tuesday, February 6th. Bank of America dropped their price objective on Genuine Parts from $90.00 to $80.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada dropped their price objective on Genuine Parts to $100.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 21st. Four analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $97.71.
Shares of Genuine Parts (GPC) opened at $91.73 on Wednesday. The stock has a market capitalization of $13,553.87, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 2.43 and a beta of 1.22. Genuine Parts has a 12-month low of $79.86 and a 12-month high of $107.75. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.74.
Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, February 20th. The specialty retailer reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. The firm had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.05 billion. Genuine Parts had a return on equity of 20.48% and a net margin of 3.78%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.02 earnings per share. sell-side analysts forecast that Genuine Parts will post 5.72 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.88 annualized dividend and a dividend yield of 3.14%. This is an increase from Genuine Parts’s previous quarterly dividend of $0.68. Genuine Parts’s dividend payout ratio is currently 68.90%.
Genuine Parts Profile
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.
Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts (NYSE:GPC).
Receive News & Ratings for Genuine Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts and related companies with MarketBeat.com's FREE daily email newsletter.