Genuine Parts Co. (GPC) Announces Quarterly Dividend of $0.66
Genuine Parts Co. (NYSE:GPC) announced a quarterly dividend on Monday, November 14th. Stockholders of record on Friday, December 9th will be given a dividend of 0.6575 per share on Tuesday, January 3rd. This represents a $2.63 annualized dividend and a dividend yield of 2.74%.
Shares of Genuine Parts (NYSE:GPC) opened at 96.15 on Tuesday. The stock’s 50 day moving average is $94.43 and its 200 day moving average is $98.12. Genuine Parts has a 52-week low of $76.50 and a 52-week high of $105.97. The stock has a market cap of $14.30 billion, a price-to-earnings ratio of 20.78 and a beta of 0.91.
Genuine Parts (NYSE:GPC) last issued its earnings results on Wednesday, October 19th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.29 by $0.05. Genuine Parts had a return on equity of 21.43% and a net margin of 4.57%. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities analysts expect that Genuine Parts will post $4.58 earnings per share for the current fiscal year.
Several research analysts have weighed in on GPC shares. Susquehanna started coverage on shares of Genuine Parts in a research report on Thursday, August 25th. They set a “neutral” rating and a $102.00 target price on the stock. Wedbush restated a “neutral” rating and set a $98.00 target price on shares of Genuine Parts in a research report on Wednesday, July 20th. Jefferies Group lowered their target price on shares of Genuine Parts to $95.00 in a research report on Thursday, October 20th. Argus restated a “buy” rating and set a $108.00 target price (up from $106.00) on shares of Genuine Parts in a research report on Monday, July 25th. Finally, Zacks Investment Research lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Genuine Parts presently has an average rating of “Hold” and an average price target of $98.80.
In other news, Chairman Thomas Gallagher acquired 3,000 shares of Genuine Parts stock in a transaction that occurred on Thursday, October 20th. The shares were acquired at an average price of $89.24 per share, with a total value of $267,720.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Janus Capital Management LLC increased its position in shares of Genuine Parts by 43.3% in the second quarter. Janus Capital Management LLC now owns 688,128 shares of the company’s stock valued at $69,673,000 after buying an additional 208,042 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Genuine Parts by 124.4% in the second quarter. Adage Capital Partners GP L.L.C. now owns 207,955 shares of the company’s stock valued at $21,055,000 after buying an additional 115,300 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Genuine Parts during the second quarter valued at about $11,522,000. Citigroup Inc. increased its position in shares of Genuine Parts by 467.5% in the second quarter. Citigroup Inc. now owns 75,171 shares of the company’s stock valued at $7,612,000 after buying an additional 61,926 shares during the last quarter. Finally, Analytic Investors LLC increased its position in shares of Genuine Parts by 35.2% in the second quarter. Analytic Investors LLC now owns 222,082 shares of the company’s stock valued at $22,486,000 after buying an additional 57,816 shares during the last quarter. 72.05% of the stock is currently owned by institutional investors and hedge funds.
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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