Genuine Parts Co. (GPC) Reaches New 52-Week High at $103.99
Genuine Parts Co. (NYSE:GPC) shares reached a new 52-week high on Wednesday . The company traded as high as $103.99 and last traded at $102.56, with a volume of 380,684 shares trading hands. The stock had previously closed at $101.20.
GPC has been the subject of a number of analyst reports. Zacks Investment Research downgraded Genuine Parts from a “hold” rating to a “sell” rating in a research note on Tuesday, June 21st. Sterne Agee CRT downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Monday, April 4th. Wedbush restated a “neutral” rating and issued a $91.00 price target (down from $98.00) on shares of Genuine Parts in a research note on Wednesday, April 20th. Finally, Royal Bank Of Canada raised their price target on Genuine Parts from $90.00 to $93.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 20th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $96.00.
The firm has a 50 day moving average of $97.37 and a 200-day moving average of $92.79. The stock has a market capitalization of $15.40 billion and a price-to-earnings ratio of 22.22.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, April 19th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the company posted $1.05 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Equities analysts predict that Genuine Parts Co. will post $4.77 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Friday, June 3rd were issued a dividend of $0.6575 per share. This represents a $2.63 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend was Wednesday, June 1st.
Other hedge funds recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its stake in shares of Genuine Parts by 12.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 12,546 shares of the company’s stock worth $1,078,000 after buying an additional 1,400 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Genuine Parts by 22.0% in the fourth quarter. Victory Capital Management Inc. now owns 12,656 shares of the company’s stock worth $1,087,000 after buying an additional 2,280 shares in the last quarter. Advantus Capital Management Inc raised its stake in shares of Genuine Parts by 1.3% in the fourth quarter. Advantus Capital Management Inc now owns 14,407 shares of the company’s stock worth $1,237,000 after buying an additional 179 shares in the last quarter. Girard Partners LTD. raised its stake in shares of Genuine Parts by 23.0% in the fourth quarter. Girard Partners LTD. now owns 14,686 shares of the company’s stock worth $1,261,000 after buying an additional 2,749 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Genuine Parts during the fourth quarter worth approximately $1,612,000.
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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