Neuberger Berman Group LLC decreased its position in Genuine Parts (NYSE:GPC) by 30.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,080 shares of the specialty retailer’s stock after selling 7,549 shares during the period. Neuberger Berman Group LLC’s holdings in Genuine Parts were worth $1,634,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. raised its holdings in shares of Genuine Parts by 8.8% in the 2nd quarter. BlackRock Inc. now owns 15,716,092 shares of the specialty retailer’s stock worth $1,457,825,000 after buying an additional 1,273,864 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Genuine Parts by 44.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,758,715 shares of the specialty retailer’s stock worth $361,034,000 after buying an additional 1,160,200 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Genuine Parts by 43.7% in the 3rd quarter. Wells Fargo & Company MN now owns 3,027,033 shares of the specialty retailer’s stock worth $289,536,000 after buying an additional 921,258 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Genuine Parts by 2,560.0% in the 2nd quarter. Janus Henderson Group PLC now owns 532,525 shares of the specialty retailer’s stock worth $49,397,000 after buying an additional 512,505 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Genuine Parts by 3,148.4% in the 3rd quarter. American Century Companies Inc. now owns 330,098 shares of the specialty retailer’s stock worth $31,574,000 after buying an additional 319,936 shares in the last quarter. 75.83% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on the company. Jefferies Group reissued a “hold” rating and issued a $95.00 target price on shares of Genuine Parts in a report on Thursday, October 12th. Zacks Investment Research raised Genuine Parts from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Royal Bank of Canada increased their target price on Genuine Parts from $85.00 to $98.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 26th. Moffett Nathanson assumed coverage on Genuine Parts in a report on Monday, December 4th. They issued a “sell” rating for the company. Finally, Gabelli reissued a “buy” rating on shares of Genuine Parts in a report on Friday, October 20th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Genuine Parts presently has a consensus rating of “Hold” and an average price target of $95.00.
Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, October 19th. The specialty retailer reported $1.16 EPS for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.12). The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $4.10 billion. Genuine Parts had a return on equity of 20.49% and a net margin of 4.16%. The firm’s revenue was down 72.2% on a year-over-year basis. During the same quarter last year, the company earned $1.24 earnings per share. analysts anticipate that Genuine Parts will post 4.58 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be given a dividend of $0.675 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $2.70 dividend on an annualized basis and a yield of 2.84%. Genuine Parts’s dividend payout ratio (DPR) is presently 60.40%.
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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