BB&T Corp raised its position in Genuine Parts Co. (NYSE:GPC) by 2,198.9% during the second quarter, Holdings Channel reports. The institutional investor owned 203,477 shares of the company’s stock after buying an additional 194,626 shares during the period. BB&T Corp’s holdings in Genuine Parts were worth $20,602,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in GPC. RPg Family Wealth Advisory LLC increased its stake in Genuine Parts by 0.8% in the first quarter. RPg Family Wealth Advisory LLC now owns 1,008 shares of the company’s stock worth $100,000 after buying an additional 8 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in Genuine Parts during the first quarter worth $100,000. FTB Advisors Inc. increased its stake in Genuine Parts by 50.0% in the second quarter. FTB Advisors Inc. now owns 1,500 shares of the company’s stock worth $152,000 after buying an additional 500 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in Genuine Parts by 2.4% in the second quarter. Checchi Capital Advisers LLC now owns 1,679 shares of the company’s stock worth $170,000 after buying an additional 40 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Genuine Parts by 12.2% in the second quarter. Signaturefd LLC now owns 1,734 shares of the company’s stock worth $176,000 after buying an additional 188 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Genuine Parts Co. (NYSE:GPC) traded down 3.35% during trading on Wednesday, hitting $93.12. 1,541,571 shares of the stock traded hands. Genuine Parts Co. has a 52-week low of $76.50 and a 52-week high of $105.97. The firm has a market cap of $13.87 billion, a price-to-earnings ratio of 20.11 and a beta of 0.92. The stock has a 50 day moving average of $99.24 and a 200 day moving average of $99.10.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Wednesday, October 19th. The company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.29 by $0.05. The firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Genuine Parts had a net margin of 4.59% and a return on equity of 21.79%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.24 EPS. Analysts expect that Genuine Parts Co. will post $4.73 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were paid a dividend of $0.6575 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $2.63 annualized dividend and a dividend yield of 2.73%. Genuine Parts’s dividend payout ratio is currently 56.68%.
A number of equities analysts recently issued reports on GPC shares. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating and set a $115.00 price target on the stock in a research note on Friday, July 15th. Susquehanna started coverage on shares of Genuine Parts in a research note on Thursday, August 25th. They issued a “neutral” rating and a $102.00 price target on the stock. Gabelli cut shares of Genuine Parts from a “buy” rating to a “hold” rating and set a $106.00 price target on the stock. in a research note on Thursday, July 14th. Jefferies Group reiterated a “hold” rating and issued a $105.00 price target on shares of Genuine Parts in a research note on Wednesday. Finally, Wedbush reiterated a “neutral” rating and issued a $98.00 price target on shares of Genuine Parts in a research note on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Genuine Parts presently has an average rating of “Hold” and an average target price of $99.18.
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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