Virtue Capital Management LLC Purchases New Stake in Genuine Parts (GPC)
Virtue Capital Management LLC purchased a new stake in Genuine Parts (NYSE:GPC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,697 shares of the specialty retailer’s stock, valued at approximately $256,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GPC. Trustcore Financial Services LLC purchased a new stake in Genuine Parts in the 4th quarter valued at $107,000. Valeo Financial Advisors LLC raised its position in Genuine Parts by 1,061.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,161 shares of the specialty retailer’s stock valued at $110,000 after buying an additional 1,061 shares during the last quarter. Horan Capital Advisors LLC. purchased a new stake in Genuine Parts in the 3rd quarter valued at $134,000. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in Genuine Parts in the 4th quarter valued at $192,000. Finally, IBM Retirement Fund purchased a new stake in Genuine Parts in the 3rd quarter valued at $200,000. 74.30% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the company. Royal Bank of Canada lowered their price target on Genuine Parts to $100.00 and set a “market perform” rating for the company in a research report on Wednesday, February 21st. Bank of America lowered their price target on Genuine Parts from $90.00 to $80.00 and set an “underperform” rating for the company in a research report on Wednesday, February 21st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $107.00 price target (down from $114.00) on shares of Genuine Parts in a research report on Wednesday, February 21st. Zacks Investment Research raised Genuine Parts from a “hold” rating to a “buy” rating and set a $112.00 price target for the company in a research report on Tuesday, February 6th. Finally, Moffett Nathanson started coverage on Genuine Parts in a research note on Monday, December 4th. They issued a “sell” rating for the company. Four research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Genuine Parts presently has a consensus rating of “Hold” and a consensus target price of $97.71.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, February 20th. The specialty retailer reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.05 billion. Genuine Parts had a return on equity of 20.48% and a net margin of 3.78%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 EPS. equities research analysts expect that Genuine Parts will post 5.72 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Thursday, March 8th. This is an increase from Genuine Parts’s previous quarterly dividend of $0.68. Genuine Parts’s dividend payout ratio is 68.90%.
COPYRIGHT VIOLATION WARNING: This piece was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another domain, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this piece can be read at https://www.thecerbatgem.com/2018/03/11/virtue-capital-management-llc-purchases-new-stake-in-genuine-parts-gpc.html.
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.
Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts (NYSE:GPC).
Receive News & Ratings for Genuine Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts and related companies with MarketBeat.com's FREE daily email newsletter.