Avalon Advisors LLC trimmed its position in Genuine Parts (NYSE:GPC) by 0.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 139,486 shares of the specialty retailer’s stock after selling 553 shares during the quarter. Avalon Advisors LLC owned approximately 0.10% of Genuine Parts worth $12,531,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Montag A & Associates Inc. boosted its position in Genuine Parts by 1.2% during the 1st quarter. Montag A & Associates Inc. now owns 46,963 shares of the specialty retailer’s stock valued at $4,219,000 after purchasing an additional 560 shares during the period. WINTON GROUP Ltd boosted its position in Genuine Parts by 16.6% during the 1st quarter. WINTON GROUP Ltd now owns 4,165 shares of the specialty retailer’s stock valued at $374,000 after purchasing an additional 592 shares during the period. Amalgamated Bank boosted its position in Genuine Parts by 3.4% during the 1st quarter. Amalgamated Bank now owns 19,106 shares of the specialty retailer’s stock valued at $1,716,000 after purchasing an additional 631 shares during the period. South State Corp boosted its position in Genuine Parts by 4.6% during the 1st quarter. South State Corp now owns 14,323 shares of the specialty retailer’s stock valued at $1,286,000 after purchasing an additional 632 shares during the period. Finally, IFP Advisors Inc boosted its position in Genuine Parts by 12.6% during the 1st quarter. IFP Advisors Inc now owns 6,041 shares of the specialty retailer’s stock valued at $543,000 after purchasing an additional 677 shares during the period. Institutional investors and hedge funds own 73.94% of the company’s stock.
Shares of Genuine Parts opened at $92.56 on Wednesday, MarketBeat.com reports. The company has a quick ratio of 0.66, a current ratio of 1.32 and a debt-to-equity ratio of 0.72. Genuine Parts has a 1 year low of $79.86 and a 1 year high of $107.75. The firm has a market cap of $13.65 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 2.48 and a beta of 1.17.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, April 19th. The specialty retailer reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.05). Genuine Parts had a return on equity of 20.76% and a net margin of 3.73%. The business had revenue of $4.59 billion for the quarter, compared to analyst estimates of $4.48 billion. During the same quarter last year, the firm posted $1.08 EPS. The company’s revenue was up 17.4% compared to the same quarter last year. equities analysts expect that Genuine Parts will post 5.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 8th will be given a dividend of $0.72 per share. The ex-dividend date is Thursday, June 7th. This represents a $2.88 dividend on an annualized basis and a yield of 3.11%. Genuine Parts’s dividend payout ratio (DPR) is presently 62.07%.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating in a research report on Monday, June 11th. Guggenheim assumed coverage on Genuine Parts in a research report on Tuesday, April 17th. They set a “neutral” rating for the company. Bank of America upgraded Genuine Parts from an “underperform” rating to a “neutral” rating and set a $96.00 price objective for the company in a research report on Friday, April 13th. Finally, Royal Bank of Canada reduced their price objective on Genuine Parts to $94.00 and set a “market perform” rating for the company in a research report on Friday, April 20th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $99.14.
About Genuine Parts
Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. 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 through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.
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