Genuine Parts (GPC) Position Increased by Geode Capital Management LLC

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Geode Capital Management LLC increased its holdings in Genuine Parts (NYSE:GPC) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,965,765 shares of the specialty retailer’s stock after purchasing an additional 163,768 shares during the quarter. Geode Capital Management LLC’s holdings in Genuine Parts were worth $188,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of GPC. Morgan Stanley raised its position in Genuine Parts by 38.3% in the third quarter. Morgan Stanley now owns 1,233,869 shares of the specialty retailer’s stock worth $122,645,000 after acquiring an additional 341,980 shares in the last quarter. Vanguard Group Inc increased its stake in Genuine Parts by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 14,954,369 shares of the specialty retailer’s stock worth $1,486,465,000 after purchasing an additional 191,348 shares in the last quarter. Strs Ohio increased its stake in Genuine Parts by 43.5% in the 4th quarter. Strs Ohio now owns 21,663 shares of the specialty retailer’s stock worth $2,080,000 after purchasing an additional 6,571 shares in the last quarter. IFM Investors Pty Ltd increased its stake in Genuine Parts by 3.4% in the 4th quarter. IFM Investors Pty Ltd now owns 8,310 shares of the specialty retailer’s stock worth $798,000 after purchasing an additional 272 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its stake in Genuine Parts by 6.2% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,150 shares of the specialty retailer’s stock worth $302,000 after purchasing an additional 184 shares in the last quarter. 73.82% of the stock is currently owned by institutional investors.

Shares of GPC opened at $98.24 on Friday. The stock has a market capitalization of $14.58 billion, a P/E ratio of 17.30, a P/E/G ratio of 3.26 and a beta of 0.97. Genuine Parts has a 1-year low of $89.87 and a 1-year high of $115.20. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.64 and a current ratio of 1.20.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $1.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.03). Genuine Parts had a return on equity of 23.46% and a net margin of 4.20%. The company had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.79 billion. During the same period in the prior year, the business posted $1.27 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities analysts forecast that Genuine Parts will post 5.9 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a dividend of $0.7625 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.05 annualized dividend and a yield of 3.10%. Genuine Parts’s dividend payout ratio (DPR) is presently 53.70%.

In other Genuine Parts news, insider Scott Sonnemaker bought 5,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were bought at an average price of $99.01 per share, with a total value of $495,050.00. Following the purchase, the insider now directly owns 5,000 shares in the company, valued at approximately $495,050. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.50% of the company’s stock.

A number of equities analysts recently weighed in on the company. ValuEngine raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Tuesday, February 19th. Evercore ISI assumed coverage on Genuine Parts in a research note on Wednesday, March 20th. They issued an “in-line” rating and a $110.00 price target on the stock. Finally, Zacks Investment Research cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Tuesday, February 12th. Six research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus price target of $103.60.

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Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. 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; and accessory items for automotive aftermarket, 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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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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