Genuine Parts Co. (GPC) Stake Lowered by Oregon Public Employees Retirement Fund
Oregon Public Employees Retirement Fund cut its stake in Genuine Parts Co. (NYSE:GPC) by 9.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 34,431 shares of the company’s stock after selling 3,773 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Genuine Parts were worth $3,459,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in GPC. Dorsey & Whitney Trust CO LLC increased its position in shares of Genuine Parts by 0.3% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 2,776 shares of the company’s stock worth $281,000 after buying an additional 7 shares in the last quarter. Winslow Evans & Crocker Inc. increased its position in shares of Genuine Parts by 0.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 6,428 shares of the company’s stock worth $651,000 after buying an additional 20 shares in the last quarter. BKS Advisors LLC increased its position in shares of Genuine Parts by 0.8% in the second quarter. BKS Advisors LLC now owns 2,547 shares of the company’s stock worth $258,000 after buying an additional 21 shares in the last quarter. Balentine LLC increased its position in shares of Genuine Parts by 0.4% in the second quarter. Balentine LLC now owns 6,279 shares of the company’s stock worth $636,000 after buying an additional 24 shares in the last quarter. Finally, Concert Wealth Management Inc. increased its position in shares of Genuine Parts by 0.7% in the second quarter. Concert Wealth Management Inc. now owns 4,684 shares of the company’s stock worth $475,000 after buying an additional 32 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.
Shares of Genuine Parts Co. (NYSE:GPC) traded down 0.87% during midday trading on Monday, hitting $97.05. 614,455 shares of the stock were exchanged. The stock’s 50-day moving average price is $93.43 and its 200 day moving average price is $98.08. Genuine Parts Co. has a one year low of $76.50 and a one year high of $105.97. The stock has a market cap of $14.43 billion, a P/E ratio of 20.97 and a beta of 0.91.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Wednesday, October 19th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by $0.05. Genuine Parts had a net margin of 4.57% and a return on equity of 21.43%. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period last year, the firm posted $1.24 EPS. The business’s revenue was up .5% compared to the same quarter last year. On average, analysts anticipate that Genuine Parts Co. will post $4.58 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be issued a $0.6575 dividend. This represents a $2.63 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Wednesday, December 7th. Genuine Parts’s payout ratio is currently 56.68%.
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A number of equities analysts have recently issued reports on GPC shares. Jefferies Group reiterated a “hold” rating and issued a $95.00 price target (down previously from $105.00) on shares of Genuine Parts in a report on Wednesday, October 19th. Susquehanna started coverage on shares of Genuine Parts in a report on Thursday, August 25th. They issued a “neutral” rating and a $102.00 price target for the company. Finally, Wedbush cut their price target on shares of Genuine Parts from $98.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, October 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. Genuine Parts has a consensus rating of “Hold” and a consensus price target of $98.80.
In related news, Chairman Thomas Gallagher acquired 3,000 shares of Genuine Parts stock in a transaction that occurred on Thursday, October 20th. The stock was acquired at an average price of $89.24 per share, with a total value of $267,720.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is currently owned by corporate insiders.
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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