Fifth Third Bancorp decreased its position in Genuine Parts Company (NYSE:GPC) by 0.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,731 shares of the specialty retailer’s stock after selling 814 shares during the period. Fifth Third Bancorp’s holdings in Genuine Parts Company were worth $16,794,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of GPC. TLP Group LLC acquired a new stake in Genuine Parts Company during the first quarter worth $379,000. Union Bankshares Corp increased its stake in Genuine Parts Company by 1.6% in the first quarter. Union Bankshares Corp now owns 38,733 shares of the specialty retailer’s stock worth $3,579,000 after buying an additional 623 shares during the period. Integrated Wealth Management increased its stake in Genuine Parts Company by 2.0% in the first quarter. Integrated Wealth Management now owns 2,618 shares of the specialty retailer’s stock worth $242,000 after buying an additional 52 shares during the period. Hartford Financial Management Inc. increased its stake in Genuine Parts Company by 0.9% in the first quarter. Hartford Financial Management Inc. now owns 17,166 shares of the specialty retailer’s stock worth $1,586,000 after buying an additional 150 shares during the period. Finally, Beacon Financial Group increased its stake in Genuine Parts Company by 0.9% in the first quarter. Beacon Financial Group now owns 57,027 shares of the specialty retailer’s stock worth $5,265,000 after buying an additional 520 shares during the period. 73.85% of the stock is owned by institutional investors and hedge funds.
Shares of Genuine Parts Company (GPC) opened at 90.74 on Monday. Genuine Parts Company has a 52 week low of $86.61 and a 52 week high of $105.97. The company has a market cap of $13.37 billion, a P/E ratio of 19.64 and a beta of 1.02. The firm has a 50-day moving average of $92.48 and a 200 day moving average of $94.73.
Genuine Parts Company (NYSE:GPC) last issued its quarterly earnings results on Wednesday, April 19th. The specialty retailer reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.03. The firm had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.85 billion. Genuine Parts Company had a net margin of 4.44% and a return on equity of 21.17%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.05 EPS. Equities analysts anticipate that Genuine Parts Company will post $4.80 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Friday, June 9th will be given a $0.675 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.98%. Genuine Parts Company’s dividend payout ratio (DPR) is currently 58.44%.
GPC has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Genuine Parts Company from a “sell” rating to a “hold” rating in a research note on Tuesday, April 11th. BidaskClub raised shares of Genuine Parts Company from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $104.00 target price (up previously from $98.00) on shares of Genuine Parts Company in a research note on Saturday, April 22nd. Royal Bank Of Canada upped their target price on shares of Genuine Parts Company from $94.00 to $96.00 and gave the company a “sector perform” rating in a research note on Thursday, April 20th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $95.00 target price on shares of Genuine Parts Company in a research note on Tuesday, April 18th. Two equities 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 stock. The company presently has a consensus rating of “Hold” and an average price target of $102.33.
Genuine Parts Company Company 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.
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