Asset Management One Co. Ltd. Buys 4,487 Shares of Genuine Parts (GPC)
Asset Management One Co. Ltd. grew its stake in Genuine Parts (NYSE:GPC) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 266,695 shares of the specialty retailer’s stock after acquiring an additional 4,487 shares during the quarter. Asset Management One Co. Ltd. owned about 0.18% of Genuine Parts worth $25,488,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of GPC. Sun Life Financial INC lifted its position in shares of Genuine Parts by 15,400.0% in the second quarter. Sun Life Financial INC now owns 1,085 shares of the specialty retailer’s stock valued at $101,000 after acquiring an additional 1,078 shares in the last quarter. Horan Capital Advisors LLC. purchased a new stake in shares of Genuine Parts in the third quarter valued at $134,000. Global X Management Co. LLC lifted its position in shares of Genuine Parts by 14.4% in the second quarter. Global X Management Co. LLC now owns 1,880 shares of the specialty retailer’s stock valued at $174,000 after acquiring an additional 236 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in shares of Genuine Parts by 151.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,906 shares of the specialty retailer’s stock valued at $177,000 after acquiring an additional 1,147 shares in the last quarter. Finally, IBM Retirement Fund purchased a new stake in shares of Genuine Parts in the third quarter valued at $200,000. Institutional investors and hedge funds own 76.03% of the company’s stock.
Several analysts have recently issued reports on the company. 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 report on Tuesday, September 26th. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Jefferies Group restated a “hold” rating and issued a $95.00 price objective on shares of Genuine Parts in a research report on Thursday, October 12th. Moffett Nathanson began coverage on Genuine Parts in a research note on Monday, December 4th. They issued a “sell” rating for the company. Finally, Gabelli reiterated a “buy” rating on shares of Genuine Parts in a research note on Friday, October 20th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $96.00.
Genuine Parts (NYSE:GPC) traded down $1.36 during trading on Tuesday, reaching $93.49. The company had a trading volume of 711,400 shares, compared to its average volume of 854,548. The firm has a market capitalization of $13,710.00, a price-to-earnings ratio of 20.85, a P/E/G ratio of 3.62 and a beta of 1.12. Genuine Parts has a 52-week low of $79.86 and a 52-week high of $100.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.32 and a quick ratio of 0.62.
Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, October 19th. The specialty retailer reported $1.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.12). The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $4.10 billion. Genuine Parts had a net margin of 4.16% and a return on equity of 20.49%. The business’s revenue for the quarter was down 72.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 earnings per share. equities research analysts forecast that Genuine Parts will post 4.58 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be paid a $0.675 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $2.70 annualized dividend and a yield of 2.89%. Genuine Parts’s payout ratio is currently 60.54%.
Genuine Parts declared that its board has approved a stock buyback plan on Monday, August 21st that allows the company to repurchase 15,000,000 shares. This repurchase authorization allows the specialty retailer to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
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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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