Genuine Parts Co. (GPC) Stake Raised by Sanders Capital LLC
Sanders Capital LLC raised its stake in shares of Genuine Parts Co. (NYSE:GPC) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,013,739 shares of the company’s stock after buying an additional 3,346 shares during the period. Sanders Capital LLC owned about 0.68% of Genuine Parts worth $102,641,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Euclid Advisors LLC raised its position in shares of Genuine Parts by 4,294.3% in the first quarter. Euclid Advisors LLC now owns 263,218 shares of the company’s stock valued at $26,153,000 after buying an additional 257,228 shares during the period. Panagora Asset Management Inc. raised its position in shares of Genuine Parts by 1,812.4% in the first quarter. Panagora Asset Management Inc. now owns 176,957 shares of the company’s stock valued at $17,582,000 after buying an additional 167,704 shares during the period. Bank of Montreal Can acquired a new position in shares of Genuine Parts during the second quarter valued at about $11,153,000. Avalon Advisors LLC raised its position in shares of Genuine Parts by 72.9% in the first quarter. Avalon Advisors LLC now owns 204,452 shares of the company’s stock valued at $20,314,000 after buying an additional 86,202 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Genuine Parts by 4.6% in the first quarter. Geode Capital Management LLC now owns 1,283,219 shares of the company’s stock valued at $127,257,000 after buying an additional 56,353 shares during the period. 71.56% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Genuine Parts Co. (NYSE:GPC) traded down 0.96% on Friday, reaching $98.27. The company’s stock had a trading volume of 433,470 shares. The stock has a 50-day moving average of $100.65 and a 200 day moving average of $99.12. The company has a market cap of $14.63 billion, a price-to-earnings ratio of 21.22 and a beta of 0.92. Genuine Parts Co. has a 52-week low of $76.50 and a 52-week high of $105.97.
Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 19th. The company reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.29 by $0.01. The company earned $3.90 billion during the quarter, compared to the consensus estimate of $3.97 billion. Genuine Parts had a net margin of 4.59% and a return on equity of 21.79%. During the same quarter last year, the firm earned $1.28 EPS. On average, equities research analysts forecast that Genuine Parts Co. will post $4.73 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were issued a $0.6575 dividend. This represents a $2.63 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Wednesday, September 7th. Genuine Parts’s dividend payout ratio (DPR) is currently 56.68%.
GPC has been the topic of a number of research reports. Susquehanna initiated coverage on Genuine Parts in a research report on Thursday, August 25th. They set a “neutral” rating and a $102.00 target price on the stock. Gabelli lowered Genuine Parts from a “buy” rating to a “hold” rating and set a $106.00 target price on the stock. in a research report on Thursday, July 14th. Zacks Investment Research lowered Genuine Parts from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. Jefferies Group lowered Genuine Parts from a “buy” rating to a “hold” rating and set a $112.00 target price on the stock. in a research report on Friday, July 15th. Finally, Wedbush reaffirmed a “neutral” rating and set a $98.00 target price on shares of Genuine Parts in a research report on Wednesday, July 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. Genuine Parts currently has a consensus rating of “Hold” and a consensus 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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