Hutchinson Capital Management CA continued to hold its stake in Genuine Parts Co. (NYSE:GPC) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,760 shares of the company’s stock at the end of the second quarter. Hutchinson Capital Management CA’s holdings in Genuine Parts were worth $583,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Thomaspartners Inc. boosted its stake in Genuine Parts by 3.0% in the first quarter. Thomaspartners Inc. now owns 1,385,219 shares of the company’s stock valued at $137,635,000 after buying an additional 40,217 shares during the period. Geode Capital Management LLC boosted its position in shares of Genuine Parts by 4.6% in the first quarter. Geode Capital Management LLC now owns 1,283,219 shares of the company’s stock worth $127,257,000 after buying an additional 56,353 shares during the last quarter. Sanders Capital LLC boosted its position in shares of Genuine Parts by 0.3% in the second quarter. Sanders Capital LLC now owns 1,013,739 shares of the company’s stock worth $102,641,000 after buying an additional 3,346 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Genuine Parts by 6.0% in the first quarter. Goldman Sachs Group Inc. now owns 978,667 shares of the company’s stock worth $97,240,000 after buying an additional 55,479 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Genuine Parts by 4.1% in the first quarter. Legal & General Group Plc now owns 681,445 shares of the company’s stock worth $67,702,000 after buying an additional 26,845 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.
Shares of Genuine Parts Co. (NYSE:GPC) traded down 4.48% during mid-day trading on Wednesday, hitting $92.03. The stock had a trading volume of 1,716,799 shares. Genuine Parts Co. has a one year low of $76.50 and a one year high of $105.97. The firm’s 50 day moving average price is $99.24 and its 200-day moving average price is $99.10. The company has a market cap of $13.70 billion, a PE ratio of 19.88 and a beta of 0.92.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Wednesday, October 19th. The company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.29 by $0.05. Genuine Parts had a net margin of 4.59% and a return on equity of 21.79%. The company had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the firm earned $1.24 earnings per share. The company’s revenue was up .5% on a year-over-year basis. On average, equities research analysts anticipate that Genuine Parts Co. will post $4.73 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were issued a dividend of $0.6575 per share. This represents a $2.63 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Wednesday, September 7th. Genuine Parts’s dividend payout ratio is currently 56.68%.
A number of research analysts recently weighed in on GPC shares. Argus reiterated a “buy” rating and issued a $108.00 target price (up previously from $106.00) on shares of Genuine Parts in a report on Monday, July 25th. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating and set a $115.00 target price on the stock in a report on Friday, July 15th. Jefferies Group cut Genuine Parts from a “buy” rating to a “hold” rating and set a $112.00 target price on the stock. in a report on Friday, July 15th. Gabelli cut Genuine Parts from a “buy” rating to a “hold” rating and set a $106.00 target price on the stock. in a report on Thursday, July 14th. Finally, Susquehanna started coverage on Genuine Parts in a report on Thursday, August 25th. They issued a “neutral” rating and a $102.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Genuine Parts presently has an average rating of “Hold” and an average target price of $99.18.
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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