Stephens Inc. AR Grows Stake in Genuine Parts Company (GPC)
Stephens Inc. AR lifted its stake in shares of Genuine Parts Company (NYSE:GPC) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,138 shares of the specialty retailer’s stock after purchasing an additional 746 shares during the period. Stephens Inc. AR’s holdings in Genuine Parts were worth $1,735,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in GPC. BlackRock Inc. increased its stake in shares of Genuine Parts by 8.8% during the second quarter. BlackRock Inc. now owns 15,716,092 shares of the specialty retailer’s stock worth $1,457,825,000 after purchasing an additional 1,273,864 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Genuine Parts by 13.9% during the second quarter. JPMorgan Chase & Co. now owns 7,150,904 shares of the specialty retailer’s stock worth $663,318,000 after purchasing an additional 874,466 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Genuine Parts by 2,560.0% during the second quarter. Janus Henderson Group PLC now owns 532,525 shares of the specialty retailer’s stock worth $49,397,000 after purchasing an additional 512,505 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Genuine Parts by 175.1% during the second quarter. Prudential Financial Inc. now owns 701,644 shares of the specialty retailer’s stock worth $65,085,000 after purchasing an additional 446,560 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Genuine Parts by 3,148.4% during the third quarter. American Century Companies Inc. now owns 330,098 shares of the specialty retailer’s stock worth $31,574,000 after purchasing an additional 319,936 shares in the last quarter. 74.69% of the stock is owned by institutional investors and hedge funds.
Genuine Parts Company (NYSE GPC) traded down $0.31 during trading on Wednesday, hitting $85.95. 1,108,600 shares of the stock traded hands, compared to its average volume of 851,922. Genuine Parts Company has a twelve month low of $79.86 and a twelve month high of $100.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.62 and a current ratio of 1.32. The stock has a market cap of $12,646.88, a PE ratio of 18.96, a price-to-earnings-growth ratio of 3.29 and a beta of 1.11.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, October 19th. The specialty retailer reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.12). Genuine Parts had a net margin of 4.16% and a return on equity of 20.49%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period last year, the company earned $1.24 EPS. The business’s quarterly revenue was down 72.2% on a year-over-year basis. research analysts forecast that Genuine Parts Company will post 4.58 earnings per share for the current year.
Genuine Parts declared that its Board of Directors has approved a stock repurchase program on Monday, August 21st that authorizes the company to repurchase 15,000,000 outstanding shares. This repurchase authorization authorizes the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be issued a $0.675 dividend. The ex-dividend date is Thursday, December 7th. This represents a $2.70 annualized dividend and a dividend yield of 3.14%. Genuine Parts’s dividend payout ratio is currently 60.40%.
A number of research firms have recently commented on GPC. Zacks Investment Research cut shares of Genuine Parts from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Gabelli reissued a “buy” rating on shares of Genuine Parts in a research note on Friday, October 20th. Royal Bank Of Canada cut their target price on shares of Genuine Parts from $98.00 to $95.00 and set a “sector perform” rating for the company in a research note on Friday, October 20th. Jefferies Group LLC reaffirmed a “hold” rating and set a $95.00 price objective on shares of Genuine Parts in a research note on Thursday, October 12th. Finally, BidaskClub raised shares of Genuine Parts from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $96.00.
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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.
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