Genuine Parts (GPC) Holdings Decreased by Penserra Capital Management LLC
Penserra Capital Management LLC lowered its holdings in Genuine Parts (NYSE:GPC) by 16.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,887 shares of the specialty retailer’s stock after selling 2,161 shares during the period. Penserra Capital Management LLC’s holdings in Genuine Parts were worth $1,116,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Genuine Parts during the 4th quarter valued at about $132,716,000. Two Sigma Advisers LP increased its position in shares of Genuine Parts by 289.8% during the 4th quarter. Two Sigma Advisers LP now owns 872,561 shares of the specialty retailer’s stock valued at $83,783,000 after purchasing an additional 648,700 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Genuine Parts by 312.3% during the 4th quarter. Prudential Financial Inc. now owns 744,508 shares of the specialty retailer’s stock valued at $71,487,000 after purchasing an additional 563,943 shares during the last quarter. Millennium Management LLC increased its position in shares of Genuine Parts by 137.4% during the 4th quarter. Millennium Management LLC now owns 859,401 shares of the specialty retailer’s stock valued at $82,520,000 after purchasing an additional 497,425 shares during the last quarter. Finally, Ronna Sue Cohen increased its position in shares of Genuine Parts by 11,103.0% during the 1st quarter. Ronna Sue Cohen now owns 385,943 shares of the specialty retailer’s stock valued at $386,000 after purchasing an additional 382,498 shares during the last quarter. 73.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Genuine Parts stock opened at $98.59 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.64 and a current ratio of 1.20. The stock has a market cap of $14.40 billion, a PE ratio of 17.36, a PEG ratio of 3.26 and a beta of 0.97. Genuine Parts has a 12 month low of $89.87 and a 12 month high of $115.20.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a dividend of $0.7625 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.05 annualized dividend and a yield of 3.09%. Genuine Parts’s payout ratio is 53.70%.
In related news, insider Scott Sonnemaker purchased 5,000 shares of Genuine Parts stock in a transaction that occurred on Tuesday, May 7th. The shares were acquired at an average cost of $99.01 per share, for a total transaction of $495,050.00. Following the transaction, the insider now directly owns 5,000 shares in the company, valued at $495,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.50% of the stock is owned by company insiders.
Several equities analysts have recently commented on GPC shares. Zacks Investment Research lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Tuesday, February 12th. ValuEngine upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. Finally, Evercore ISI started coverage on Genuine Parts in a research report on Wednesday, March 20th. They set an “in-line” rating and a $110.00 price objective on the stock. Six analysts have rated the stock with a hold rating, Genuine Parts has a consensus rating of “Hold” and an average target price of $103.60.
About Genuine Parts
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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