Mizuho Asset Management Co. Ltd. raised its position in shares of Genuine Parts Co. (NYSE:GPC) by 59.8% during the second quarter, Holdings Channel reports. The fund owned 1,907 shares of the company’s stock after buying an additional 714 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in Genuine Parts were worth $193,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Genuine Parts by 2.8% in the second quarter. Vanguard Group Inc. now owns 14,007,569 shares of the company’s stock worth $1,418,267,000 after buying an additional 385,251 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Genuine Parts by 7.5% in the second quarter. Principal Financial Group Inc. now owns 255,940 shares of the company’s stock worth $25,914,000 after buying an additional 17,938 shares during the last quarter. Brown Advisory Inc. boosted its stake in Genuine Parts by 8.0% in the second quarter. Brown Advisory Inc. now owns 11,517 shares of the company’s stock worth $1,167,000 after buying an additional 850 shares during the last quarter. Buckhead Capital Management LLC boosted its stake in Genuine Parts by 13.4% in the second quarter. Buckhead Capital Management LLC now owns 5,792 shares of the company’s stock worth $586,000 after buying an additional 685 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in Genuine Parts by 56.7% in the second quarter. Prudential Financial Inc. now owns 412,565 shares of the company’s stock worth $41,772,000 after buying an additional 149,363 shares during the last quarter. 71.56% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Co. (NYSE:GPC) traded up 0.46% during midday trading on Wednesday, hitting $99.20. 42,792 shares of the company were exchanged. The firm’s 50-day moving average price is $101.27 and its 200-day moving average price is $98.80. Genuine Parts Co. has a one year low of $76.50 and a one year high of $105.97. The stock has a market capitalization of $14.77 billion, a PE ratio of 21.43 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, July 19th. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.29 by $0.01. Genuine Parts had a net margin of 4.59% and a return on equity of 21.79%. The firm earned $3.90 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the prior year, the business earned $1.28 earnings per share. Equities research analysts anticipate that Genuine Parts Co. will post $4.73 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be issued a dividend of $0.6575 per share. This represents a $2.63 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Wednesday, September 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 56.68%.

GPC has been the topic of a number of recent analyst reports. Susquehanna initiated coverage on shares of Genuine Parts in a research report on Thursday, August 25th. They issued a “neutral” rating and a $102.00 price target on the stock. Argus reiterated a “buy” rating and set a $108.00 target price (up from $106.00) on shares of Genuine Parts in a research report on Monday, July 25th. Zacks Investment Research lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Wedbush reiterated a “neutral” rating and set a $98.00 target price on shares of Genuine Parts in a research report on Wednesday, July 20th. Finally, Jefferies Group lowered shares of Genuine Parts from a “buy” rating to a “hold” rating and set a $112.00 target price on the stock. in a research report on Friday, July 15th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $99.82.

Genuine Parts Company 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.

5 Day Chart for NYSE:GPC

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