CIBC World Markets Inc. decreased its stake in Genuine Parts Co. (NYSE:GPC) by 7.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,256 shares of the company’s stock after selling 261 shares during the period. CIBC World Markets Inc.’s holdings in Genuine Parts were worth $330,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Glenmede Trust Co. NA raised its stake in shares of Genuine Parts by 2.5% in the first quarter. Glenmede Trust Co. NA now owns 123,040 shares of the company’s stock valued at $12,224,000 after buying an additional 2,985 shares during the period. Investment Centers of America Inc. raised its stake in shares of Genuine Parts by 9.8% in the first quarter. Investment Centers of America Inc. now owns 6,801 shares of the company’s stock valued at $676,000 after buying an additional 608 shares during the period. Commonwealth Equity Services Inc raised its stake in shares of Genuine Parts by 14.7% in the first quarter. Commonwealth Equity Services Inc now owns 54,706 shares of the company’s stock valued at $5,436,000 after buying an additional 7,018 shares during the period. Mn Services Vermogensbeheer B.V. purchased a new stake in shares of Genuine Parts during the first quarter valued at approximately $328,000. Finally, Virginia Retirement System purchased a new stake in shares of Genuine Parts during the first quarter valued at approximately $1,078,000. 71.56% of the stock is currently owned by institutional investors and hedge funds.
Shares of Genuine Parts Co. (NYSE:GPC) traded down 2.81% on Friday, reaching $98.62. The company’s stock had a trading volume of 762,141 shares. The stock has a 50-day moving average of $101.21 and a 200 day moving average of $98.86. The stock has a market capitalization of $14.69 billion, a PE ratio of 21.30 and a beta of 0.92. Genuine Parts Co. has a 1-year low of $76.50 and a 1-year high of $105.97.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.29 by $0.01. Genuine Parts had a net margin of 4.59% and a return on equity of 21.79%. The firm earned $3.90 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the previous year, the business posted $1.28 EPS. On average, equities analysts forecast that Genuine Parts Co. will post $4.73 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be paid a $0.6575 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $2.63 annualized dividend and a dividend yield of 2.67%. Genuine Parts’s payout ratio is currently 56.68%.
GPC has been the topic of several research analyst reports. Zacks Investment Research lowered Genuine Parts from a “hold” rating to a “sell” rating in a research note on Tuesday, June 21st. Gabelli lowered 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 lowered Genuine Parts from a “buy” rating to a “hold” rating and set a $112.00 price target on the stock. in a research note on Friday, July 15th. Wedbush reissued a “neutral” rating and set a $98.00 price target on shares of Genuine Parts in a research note on Wednesday, July 20th. Finally, Argus reissued a “buy” rating and set a $108.00 price target (up previously from $106.00) on shares of Genuine Parts in a research note on Monday, July 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $99.82.
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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