Swiss National Bank Has $61.70 Million Position in Genuine Parts (GPC)
Swiss National Bank increased its holdings in Genuine Parts (NYSE:GPC) by 10.1% during the first quarter, Holdings Channel reports. The fund owned 550,730 shares of the specialty retailer’s stock after acquiring an additional 50,600 shares during the quarter. Swiss National Bank’s holdings in Genuine Parts were worth $61,698,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Norinchukin Bank The increased its stake in Genuine Parts by 2.8% in the 1st quarter. Norinchukin Bank The now owns 28,596 shares of the specialty retailer’s stock valued at $3,204,000 after buying an additional 786 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Genuine Parts by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 926,871 shares of the specialty retailer’s stock valued at $103,832,000 after buying an additional 22,682 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Genuine Parts by 3.2% in the 1st quarter. CIBC Private Wealth Group LLC now owns 13,984 shares of the specialty retailer’s stock valued at $1,566,000 after buying an additional 432 shares during the last quarter. Fiera Capital Corp purchased a new stake in Genuine Parts in the 1st quarter valued at about $367,000. Finally, Envestnet Asset Management Inc. increased its stake in Genuine Parts by 28.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 159,003 shares of the specialty retailer’s stock valued at $17,813,000 after buying an additional 35,591 shares during the last quarter. Institutional investors own 76.34% of the company’s stock.
NYSE:GPC opened at $99.22 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 0.67. Genuine Parts has a 52 week low of $90.37 and a 52 week high of $115.20. The stock has a market capitalization of $14.45 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 3.23 and a beta of 0.95.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders 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 dividend yield of 3.07%. Genuine Parts’s payout ratio is currently 53.70%.
In related news, insider Scott Sonnemaker purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was bought at an average price of $99.01 per share, for a total transaction of $495,050.00. Following the purchase, the insider now directly owns 5,000 shares in the company, valued at approximately $495,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.50% of the company’s stock.
Several research firms have commented on GPC. Stephens began coverage on shares of Genuine Parts in a research note on Thursday, May 30th. They issued an “overweight” rating and a $114.00 price objective for the company. Zacks Investment Research lowered shares of Genuine Parts from a “hold” rating to a “sell” rating and set a $104.00 price objective for the company. in a research note on Monday, May 27th. Evercore ISI began coverage on shares of Genuine Parts in a research note on Wednesday, March 20th. They issued an “in-line” rating and a $110.00 price objective for the company. Finally, ValuEngine upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Tuesday, February 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $105.33.
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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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