Boston Research & Management Inc. Has $221,000 Position in Genuine Parts Company (GPC)
Boston Research & Management Inc. continued to hold its stake in shares of Genuine Parts Company (NYSE:GPC) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,390 shares of the specialty retailer’s stock at the end of the second quarter. Boston Research & Management Inc.’s holdings in Genuine Parts were worth $221,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. TLP Group LLC acquired a new stake in shares of Genuine Parts during the first quarter worth about $379,000. Hutner Capital Management Inc. boosted its stake in shares of Genuine Parts by 3.3% in the first quarter. Hutner Capital Management Inc. now owns 23,344 shares of the specialty retailer’s stock valued at $2,157,000 after buying an additional 739 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Genuine Parts by 4.7% in the first quarter. Vanguard Group Inc. now owns 15,429,332 shares of the specialty retailer’s stock valued at $1,425,824,000 after buying an additional 690,398 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Genuine Parts by 518.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 24,387 shares of the specialty retailer’s stock valued at $2,262,000 after buying an additional 20,442 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Genuine Parts by 3.4% in the first quarter. Bank of America Corp DE now owns 1,488,378 shares of the specialty retailer’s stock valued at $137,541,000 after buying an additional 48,329 shares during the last quarter. 74.50% of the stock is owned by institutional investors.
Shares of Genuine Parts Company (NYSE:GPC) traded up 0.21% on Wednesday, hitting $82.00. 55,032 shares of the company traded hands. The firm’s 50-day moving average is $83.34 and its 200 day moving average is $90.62. The firm has a market capitalization of $12.04 billion, a P/E ratio of 17.75 and a beta of 1.04. Genuine Parts Company has a 1-year low of $79.86 and a 1-year high of $105.18.
Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.31 by $0.02. Genuine Parts had a return on equity of 21.05% and a net margin of 4.37%. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the business posted $1.28 EPS. Genuine Parts’s revenue was up 5.1% on a year-over-year basis. On average, analysts anticipate that Genuine Parts Company will post $4.73 earnings per share for the current fiscal year.
Genuine Parts announced that its Board of Directors has authorized a stock repurchase program on Monday, August 21st that allows the company to buyback 15,000,000 outstanding shares. This buyback authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Thursday, September 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 58.32%.
Several equities research analysts have weighed in on GPC shares. Zacks Investment Research cut shares of Genuine Parts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 24th. Goldman Sachs Group, Inc. (The) cut shares of Genuine Parts from a “neutral” rating to a “sell” rating and dropped their price target for the company from $104.00 to $89.00 in a research report on Thursday, July 6th. BidaskClub cut shares of Genuine Parts from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Wedbush reissued a “neutral” rating on shares of Genuine Parts in a research report on Thursday, July 6th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $96.00 price target on shares of Genuine Parts in a research report on Thursday, May 25th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Genuine Parts currently has a consensus rating of “Hold” and a consensus target price of $96.00.
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.
Receive News & Stock Ratings for Genuine Parts Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts Company and related stocks with our FREE daily email newsletter.