National Pension Service raised its position in Genuine Parts Company (NYSE:GPC) by 12.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 141,369 shares of the specialty retailer’s stock after buying an additional 15,385 shares during the period. National Pension Service owned 0.10% of Genuine Parts Company worth $13,054,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Genuine Parts Company during the fourth quarter worth about $159,718,000. State Street Corp increased its stake in shares of Genuine Parts Company by 5.0% in the fourth quarter. State Street Corp now owns 8,539,360 shares of the specialty retailer’s stock worth $815,858,000 after buying an additional 410,162 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of Genuine Parts Company by 427.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 284,896 shares of the specialty retailer’s stock worth $27,263,000 after buying an additional 230,932 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Genuine Parts Company during the fourth quarter worth about $22,052,000. Finally, Panagora Asset Management Inc. increased its stake in shares of Genuine Parts Company by 39.3% in the third quarter. Panagora Asset Management Inc. now owns 661,702 shares of the specialty retailer’s stock worth $66,468,000 after buying an additional 186,830 shares during the period. Institutional investors own 71.75% of the company’s stock.
Genuine Parts Company (NYSE:GPC) opened at 90.14 on Wednesday. The stock has a 50 day moving average price of $92.62 and a 200 day moving average price of $95.29. Genuine Parts Company has a 12-month low of $86.61 and a 12-month high of $105.97. The stock has a market cap of $13.37 billion, a P/E ratio of 19.64 and a beta of 0.93.
Genuine Parts Company (NYSE:GPC) last released its quarterly earnings data on Tuesday, February 21st. The specialty retailer reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.01. Genuine Parts Company had a net margin of 4.57% and a return on equity of 21.43%. The firm had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period last year, the firm earned $1.07 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts forecast that Genuine Parts Company will post $4.76 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Friday, March 10th were paid a dividend of $0.675 per share. The ex-dividend date was Wednesday, March 8th. This is an increase from Genuine Parts Company’s previous quarterly dividend of $0.66. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.00%. Genuine Parts Company’s dividend payout ratio (DPR) is currently 56.68%.
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A number of research firms have weighed in on GPC. Zacks Investment Research upgraded Genuine Parts Company from a “sell” rating to a “hold” rating in a research report on Friday, March 17th. Jefferies Group LLC restated a “hold” rating and set a $95.00 price target on shares of Genuine Parts Company in a research report on Tuesday. Goldman Sachs Group Inc upgraded Genuine Parts Company from a “sell” rating to a “neutral” rating and raised their price target for the company from $95.00 to $105.00 in a research report on Thursday, January 19th. Finally, Wedbush restated a “neutral” rating on shares of Genuine Parts Company in a research report on Tuesday, January 3rd. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $102.11.
About Genuine Parts Company
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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