Orleans Capital Management Corp LA lessened its holdings in Genuine Parts Company (NYSE:GPC) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,473 shares of the specialty retailer’s stock after selling 50 shares during the quarter. Orleans Capital Management Corp LA’s holdings in Genuine Parts were worth $1,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in GPC. Tiemann Investment Advisors LLC grew its stake in Genuine Parts by 3.3% in the 1st quarter. Tiemann Investment Advisors LLC now owns 3,175 shares of the specialty retailer’s stock valued at $293,000 after purchasing an additional 100 shares during the period. AE Wealth Management LLC bought a new position in Genuine Parts in the 1st quarter valued at $347,000. Cadence Capital Management LLC grew its stake in Genuine Parts by 65.1% in the 1st quarter. Cadence Capital Management LLC now owns 31,961 shares of the specialty retailer’s stock valued at $2,954,000 after purchasing an additional 12,604 shares during the period. AXA grew its stake in Genuine Parts by 0.6% in the 1st quarter. AXA now owns 129,600 shares of the specialty retailer’s stock valued at $11,976,000 after purchasing an additional 800 shares during the period. Finally, Oarsman Capital Inc. grew its stake in Genuine Parts by 10.3% in the 1st quarter. Oarsman Capital Inc. now owns 6,647 shares of the specialty retailer’s stock valued at $614,000 after purchasing an additional 622 shares during the period. Hedge funds and other institutional investors own 74.43% of the company’s stock.
A number of brokerages have issued reports on GPC. Jefferies Group LLC restated a “hold” rating and issued a $95.00 price objective on shares of Genuine Parts in a research note on Thursday. Royal Bank Of Canada upped their price objective on Genuine Parts from $85.00 to $98.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 26th. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. BidaskClub downgraded Genuine Parts from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Finally, Gabelli upgraded Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a research note on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $96.33.
Genuine Parts Company (GPC) traded up 0.339% on Friday, hitting $96.185. The stock had a trading volume of 191,848 shares. The firm has a 50-day moving average of $89.13 and a 200 day moving average of $89.12. The company has a market capitalization of $14.27 billion, a price-to-earnings ratio of 20.955 and a beta of 1.10. Genuine Parts Company has a 52 week low of $79.86 and a 52 week high of $100.90.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.02). The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 EPS. On average, analysts predict that Genuine Parts Company will post $4.73 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Thursday, September 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 58.32%.
Genuine Parts announced that its board has approved a share repurchase plan on Monday, August 21st that permits the company to buyback 15,000,000 shares. This buyback authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
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.
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