Sciencast Management LP acquired a new stake in Genuine Parts (NYSE:GPC – Get Rating) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,356 shares of the specialty retailer's stock, valued at approximately $970,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Cooper Financial Group boosted its position in shares of Genuine Parts by 40.4% during the first quarter. Cooper Financial Group now owns 2,058 shares of the specialty retailer's stock valued at $259,000 after buying an additional 592 shares during the last quarter. Rosenberg Matthew Hamilton boosted its position in shares of Genuine Parts by 29.3% during the first quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer's stock valued at $47,000 after buying an additional 84 shares during the last quarter. DeDora Capital Inc. purchased a new position in shares of Genuine Parts during the first quarter valued at approximately $58,000. TPG Financial Advisors LLC boosted its position in shares of Genuine Parts by 53.8% during the first quarter. TPG Financial Advisors LLC now owns 2,598 shares of the specialty retailer's stock valued at $327,000 after buying an additional 909 shares during the last quarter. Finally, Thomasville National Bank lifted its holdings in Genuine Parts by 4.7% during the first quarter. Thomasville National Bank now owns 2,003 shares of the specialty retailer's stock worth $252,000 after acquiring an additional 90 shares during the period. Institutional investors and hedge funds own 78.27% of the company's stock.
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Analysts Set New Price Targets
A number of analysts recently commented on GPC shares. StockNews.com upgraded Genuine Parts from a "buy" rating to a "strong-buy" rating in a report on Thursday. Wedbush lifted their price target on Genuine Parts from $140.00 to $150.00 in a report on Thursday, July 28th.
Genuine Parts Stock Performance
Shares of GPC opened at $160.10 on Monday. The firm has a market cap of $22.64 billion, a PE ratio of 19.22, a PEG ratio of 1.91 and a beta of 0.93. The stock's fifty day moving average price is $156.73 and its two-hundred day moving average price is $144.02. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.18 and a quick ratio of 0.58. Genuine Parts has a 1 year low of $115.63 and a 1 year high of $164.99.
Genuine Parts (NYSE:GPC – Get Rating) last issued its earnings results on Thursday, October 20th. The specialty retailer reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.18. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.37 billion. Genuine Parts had a return on equity of 31.91% and a net margin of 5.55%. The business's revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.88 earnings per share. On average, equities research analysts forecast that Genuine Parts will post 8.17 EPS for the current year.
Genuine Parts Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd were given a $0.895 dividend. This represents a $3.58 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Thursday, September 1st. Genuine Parts's dividend payout ratio (DPR) is presently 42.98%.
Genuine Parts Company Profile
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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, industrial concerns, and individuals.
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