Ronna Sue Cohen boosted its position in shares of Genuine Parts (NYSE:GPC) by 11,103.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 385,943 shares of the specialty retailer’s stock after purchasing an additional 382,498 shares during the period. Ronna Sue Cohen owned 0.26% of Genuine Parts worth $386,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clarfeld Financial Advisors LLC acquired a new stake in Genuine Parts in the fourth quarter worth $26,000. Essex Savings Bank acquired a new stake in shares of Genuine Parts during the 4th quarter worth about $27,000. Sontag Advisory LLC acquired a new stake in shares of Genuine Parts during the 4th quarter worth about $29,000. Lindbrook Capital LLC acquired a new stake in shares of Genuine Parts during the 4th quarter worth about $31,000. Finally, Berman Capital Advisors LLC acquired a new stake in shares of Genuine Parts during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 76.12% of the company’s stock.
GPC has been the topic of several research reports. Zacks Investment Research raised shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a report on Friday, January 4th. Bank of America upgraded shares of Genuine Parts from an “underperform” rating to a “neutral” rating in a research report on Wednesday, January 9th. Wedbush reiterated a “neutral” rating on shares of Genuine Parts in a research report on Tuesday, January 15th. ValuEngine upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. Finally, Evercore ISI started coverage on shares of Genuine Parts in a research report on Wednesday, March 20th. They set an “in-line” rating and a $110.00 target price on the stock. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $103.60.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, February 19th. The specialty retailer reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.03. Genuine Parts had a net margin of 4.33% and a return on equity of 23.45%. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same period in the prior year, the firm posted $1.12 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts predict that Genuine Parts will post 5.94 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were given a $0.7625 dividend. This represents a $3.05 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.72. Genuine Parts’s payout ratio is currently 53.70%.
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About Genuine Parts
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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