Genuine Parts (GPC) Shares Sold by Sit Investment Associates Inc.
Sit Investment Associates Inc. lowered its stake in Genuine Parts (NYSE:GPC) by 96.4% during the 4th quarter, HoldingsChannel reports. The firm owned 4,000 shares of the specialty retailer’s stock after selling 107,450 shares during the quarter. Sit Investment Associates Inc.’s holdings in Genuine Parts were worth $380,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in GPC. Beacon Financial Group increased its holdings in shares of Genuine Parts by 1.8% in the 4th quarter. Beacon Financial Group now owns 59,149 shares of the specialty retailer’s stock worth $5,620,000 after buying an additional 1,045 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Genuine Parts in the 3rd quarter worth about $356,000. Smith Shellnut Wilson LLC ADV increased its holdings in shares of Genuine Parts by 71.0% in the 3rd quarter. Smith Shellnut Wilson LLC ADV now owns 5,091 shares of the specialty retailer’s stock worth $487,000 after buying an additional 2,114 shares during the last quarter. Archford Capital Strategies LLC increased its holdings in shares of Genuine Parts by 18.9% in the 3rd quarter. Archford Capital Strategies LLC now owns 11,638 shares of the specialty retailer’s stock worth $1,113,000 after buying an additional 1,853 shares during the last quarter. Finally, Moors & Cabot Inc. bought a new stake in shares of Genuine Parts in the 3rd quarter worth about $217,000. Institutional investors and hedge funds own 75.84% of the company’s stock.
GPC has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of Genuine Parts from $85.00 to $98.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 26th. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Jefferies Group restated a “hold” rating and issued a $95.00 target price on shares of Genuine Parts in a report on Thursday, October 12th. Gabelli restated a “buy” rating on shares of Genuine Parts in a report on Friday, October 20th. Finally, Moffett Nathanson initiated coverage on shares of Genuine Parts in a report on Monday, December 4th. They issued a “sell” rating on the stock. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $95.00.
Genuine Parts (NYSE:GPC) opened at $102.80 on Wednesday. The company has a market cap of $15,142.24, a PE ratio of 23.00, a P/E/G ratio of 2.52 and a beta of 1.12. Genuine Parts has a fifty-two week low of $79.86 and a fifty-two week high of $104.88. The company has a current ratio of 1.32, a quick ratio of 0.62 and a debt-to-equity ratio of 0.16.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, October 19th. The specialty retailer reported $1.16 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.12). The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $4.10 billion. Genuine Parts had a net margin of 4.16% and a return on equity of 20.49%. The business’s revenue for the quarter was down 72.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.24 earnings per share. equities analysts predict that Genuine Parts will post 4.6 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 8th were issued a dividend of $0.675 per share. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $2.70 annualized dividend and a yield of 2.63%. Genuine Parts’s payout ratio is 60.40%.
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About Genuine Parts
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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