Aberdeen Asset Management PLC UK Has $14.07 Million Holdings in Genuine Parts Company (GPC)
Aberdeen Asset Management PLC UK raised its holdings in Genuine Parts Company (NYSE:GPC) by 30.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 151,632 shares of the specialty retailer’s stock after acquiring an additional 35,572 shares during the period. Aberdeen Asset Management PLC UK owned 0.10% of Genuine Parts worth $14,065,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Haverford Financial Services Inc. raised its holdings in Genuine Parts by 0.6% in the 1st quarter. Haverford Financial Services Inc. now owns 3,281 shares of the specialty retailer’s stock valued at $303,000 after acquiring an additional 20 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Genuine Parts by 0.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 7,359 shares of the specialty retailer’s stock worth $680,000 after buying an additional 23 shares during the last quarter. Pennsylvania Trust Co increased its holdings in shares of Genuine Parts by 0.7% during the 2nd quarter. Pennsylvania Trust Co now owns 3,183 shares of the specialty retailer’s stock worth $295,000 after buying an additional 23 shares during the last quarter. BKS Advisors LLC increased its holdings in shares of Genuine Parts by 1.3% during the 2nd quarter. BKS Advisors LLC now owns 2,580 shares of the specialty retailer’s stock worth $239,000 after buying an additional 33 shares during the last quarter. Finally, RNC Capital Management LLC increased its holdings in shares of Genuine Parts by 0.5% during the 1st quarter. RNC Capital Management LLC now owns 7,437 shares of the specialty retailer’s stock worth $687,000 after buying an additional 34 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.
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Shares of Genuine Parts Company (GPC) opened at 85.82 on Tuesday. The stock’s 50 day moving average price is $83.30 and its 200-day moving average price is $89.47. The firm has a market capitalization of $12.60 billion, a P/E ratio of 18.58 and a beta of 1.06. Genuine Parts Company has a 12-month low of $79.86 and a 12-month high of $101.88.
Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by $0.02. Genuine Parts had a return on equity of 21.05% and a net margin of 4.37%. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the previous year, the company earned $1.28 EPS. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts expect that Genuine Parts Company will post $4.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.675 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.15%. Genuine Parts’s dividend payout ratio is currently 58.32%.
Genuine Parts declared that its board has authorized a share repurchase plan 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. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
A number of analysts have recently commented on GPC shares. Royal Bank Of Canada restated a “hold” rating and set a $96.00 price objective on shares of Genuine Parts in a report on Thursday, May 25th. BidaskClub upgraded Genuine Parts from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Wedbush restated a “neutral” rating on shares of Genuine Parts in a report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) downgraded Genuine Parts from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $104.00 to $89.00 in a report on Thursday, July 6th. Finally, Gabelli upgraded Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $96.00.
Genuine Parts 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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