FDx Advisors Inc. Raises Position in Genuine Parts (NYSE:GPC)
FDx Advisors Inc. lifted its holdings in Genuine Parts (NYSE:GPC) by 48.6% during the first quarter, Holdings Channel reports. The institutional investor owned 7,936 shares of the specialty retailer’s stock after acquiring an additional 2,594 shares during the quarter. FDx Advisors Inc.’s holdings in Genuine Parts were worth $534,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. increased its holdings in shares of Genuine Parts by 374.7% during the first quarter. Meeder Asset Management Inc. now owns 394 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 311 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in Genuine Parts during the 1st quarter valued at about $27,000. Cornerstone Advisors Inc. raised its holdings in Genuine Parts by 246.9% in the first quarter. Cornerstone Advisors Inc. now owns 496 shares of the specialty retailer’s stock worth $33,000 after buying an additional 353 shares during the last quarter. Procyon Private Wealth Partners LLC bought a new position in shares of Genuine Parts in the fourth quarter worth approximately $38,000. Finally, Marshall Wace North America L.P. bought a new stake in shares of Genuine Parts during the first quarter valued at approximately $44,000. Institutional investors own 77.44% of the company’s stock.
Several equities research analysts recently commented on GPC shares. Cfra dropped their price objective on Genuine Parts from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, May 6th. S&P Equity Research cut their price target on Genuine Parts from $85.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Bank of America raised their price objective on shares of Genuine Parts from $78.00 to $82.00 and gave the stock a “buy” rating in a report on Sunday, April 19th. JPMorgan Chase & Co. dropped their price target on shares of Genuine Parts from $107.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Finally, Stephens downgraded shares of Genuine Parts from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $94.67.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Wednesday, May 6th. The specialty retailer reported $0.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.20). The firm had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.54 billion. Genuine Parts had a net margin of 3.11% and a return on equity of 21.54%. The company’s revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 EPS. Sell-side analysts predict that Genuine Parts will post 3.96 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 3.78%. The ex-dividend date is Thursday, June 4th. Genuine Parts’s dividend payout ratio is presently 55.54%.
Genuine Parts Company Profile
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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