JT Stratford LLC Takes $433,000 Position in Genuine Parts Company (GPC)
JT Stratford LLC purchased a new stake in Genuine Parts Company (NYSE:GPC) during the second quarter, according to its most recent filing with the SEC. The firm purchased 4,669 shares of the specialty retailer’s stock, valued at approximately $433,000.
Other large investors also recently made changes to their positions in the company. Sun Life Financial INC raised its position in shares of Genuine Parts by 15,400.0% in the 2nd quarter. Sun Life Financial INC now owns 1,085 shares of the specialty retailer’s stock worth $101,000 after acquiring an additional 1,078 shares in the last quarter. Global X Management Co. LLC lifted its stake in shares of Genuine Parts by 29.3% during the 1st quarter. Global X Management Co. LLC now owns 1,644 shares of the specialty retailer’s stock worth $152,000 after purchasing an additional 373 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Genuine Parts by 151.1% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,906 shares of the specialty retailer’s stock worth $177,000 after purchasing an additional 1,147 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Genuine Parts by 7.3% during the 1st quarter. Van ECK Associates Corp now owns 2,274 shares of the specialty retailer’s stock worth $210,000 after purchasing an additional 155 shares during the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in shares of Genuine Parts during the 1st quarter worth $213,000. Institutional investors and hedge funds own 74.46% of the company’s stock.
A number of equities research analysts recently weighed in on GPC shares. BidaskClub raised Genuine Parts from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Jefferies Group LLC reiterated a “hold” rating and issued a $95.00 target price on shares of Genuine Parts in a report on Sunday, September 10th. Goldman Sachs Group, Inc. (The) downgraded shares of Genuine Parts from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $104.00 to $89.00 in a report on Thursday, July 6th. Zacks Investment Research raised shares of Genuine Parts from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Royal Bank Of Canada increased their price target on shares of Genuine Parts from $85.00 to $98.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Genuine Parts has a consensus rating of “Hold” and a consensus target price of $96.33.
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Genuine Parts Company (NYSE GPC) traded down 0.68% during mid-day trading on Wednesday, hitting $95.30. The stock had a trading volume of 363,826 shares. The firm has a 50-day moving average of $86.41 and a 200-day moving average of $88.95. The stock has a market cap of $13.99 billion, a P/E ratio of 20.63 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 announced its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $1.29 EPS for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.02). Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the prior year, the company posted $1.28 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts forecast that Genuine Parts Company will post $4.73 EPS for the current fiscal year.
Genuine Parts announced that its board has authorized a share buyback plan on Monday, August 21st that allows the company to repurchase 15,000,000 outstanding shares. This repurchase authorization allows the specialty retailer to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were paid a dividend of $0.675 per share. The ex-dividend date was Thursday, September 7th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.81%. Genuine Parts’s payout ratio is currently 58.32%.
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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