Genuine Parts (GPC) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS
Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Genuine Parts (NYSE:GPC) by 9.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,941 shares of the specialty retailer’s stock after acquiring an additional 991 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Genuine Parts were worth $1,142,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in GPC. Sun Life Financial INC increased its stake in Genuine Parts by 15,400.0% in the second quarter. Sun Life Financial INC now owns 1,085 shares of the specialty retailer’s stock valued at $101,000 after purchasing an additional 1,078 shares during the period. Horan Capital Advisors LLC. acquired a new position in Genuine Parts in the third quarter valued at $134,000. Global X Management Co. LLC increased its stake in Genuine Parts by 14.4% in the second quarter. Global X Management Co. LLC now owns 1,880 shares of the specialty retailer’s stock valued at $174,000 after purchasing an additional 236 shares during the period. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Genuine Parts by 151.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,906 shares of the specialty retailer’s stock valued at $177,000 after acquiring an additional 1,147 shares in the last quarter. Finally, IBM Retirement Fund purchased a new stake in shares of Genuine Parts in the third quarter valued at about $200,000. Hedge funds and other institutional investors own 76.03% of the company’s stock.
Several analysts have recently weighed in on the stock. Moffett Nathanson assumed coverage on shares of Genuine Parts in a report on Monday. They issued a “sell” rating on the stock. Royal Bank Of Canada lifted their target price on shares of Genuine Parts from $85.00 to $98.00 and gave the company a “sector perform” rating in a report on Tuesday, September 26th. Zacks Investment Research raised shares of Genuine Parts from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Jefferies Group reaffirmed a “hold” rating and issued a $95.00 target price on shares of Genuine Parts in a report on Sunday, September 10th. Finally, Gabelli reaffirmed a “buy” rating on shares of Genuine Parts in a report on Friday, October 20th. Four equities research 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 currently has a consensus rating of “Hold” and a consensus price target of $96.00.
Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Thursday, October 19th. The specialty retailer reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). Genuine Parts had a return on equity of 20.49% and a net margin of 4.16%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the prior year, the firm posted $1.24 EPS. The firm’s quarterly revenue was down 72.2% on a year-over-year basis. analysts predict that Genuine Parts will post 4.58 earnings per share for the current year.
Genuine Parts announced that its Board of Directors has initiated a stock repurchase plan on Monday, August 21st that allows the company to repurchase 15,000,000 outstanding shares. This repurchase authorization allows the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be issued a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Thursday, December 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 60.40%.
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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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