Swiss National Bank Trims Holdings in Genuine Parts (GPC)
Swiss National Bank decreased its position in shares of Genuine Parts (NYSE:GPC) by 13.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 469,230 shares of the specialty retailer’s stock after selling 74,300 shares during the quarter. Swiss National Bank owned approximately 0.32% of Genuine Parts worth $42,156,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of GPC. Trustcore Financial Services LLC bought a new stake in shares of Genuine Parts during the 4th quarter valued at $107,000. Captrust Financial Advisors bought a new stake in shares of Genuine Parts during the 4th quarter valued at $109,000. Valeo Financial Advisors LLC raised its position in shares of Genuine Parts by 1,061.0% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,161 shares of the specialty retailer’s stock valued at $110,000 after acquiring an additional 1,061 shares during the last quarter. Bedel Financial Consulting Inc. bought a new stake in shares of Genuine Parts during the 1st quarter valued at $116,000. Finally, Wagner Wealth Management LLC bought a new stake in shares of Genuine Parts during the 4th quarter valued at $117,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.
GPC opened at $91.68 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.32 and a quick ratio of 0.66. Genuine Parts has a 12 month low of $91.21 and a 12 month high of $91.74. The firm has a market capitalization of $13.46 billion, a P/E ratio of 19.76, a PEG ratio of 2.45 and a beta of 1.17.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 8th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Thursday, June 7th. Genuine Parts’s dividend payout ratio is currently 62.07%.
Several brokerages have commented on GPC. Bank of America dropped their target price on shares of Genuine Parts from $90.00 to $80.00 and set an “underperform” rating for the company in a research report on Wednesday, February 21st. Guggenheim began coverage on shares of Genuine Parts in a research report on Tuesday, April 17th. They set a “neutral” rating for the company. JPMorgan Chase reiterated a “neutral” rating and set a $107.00 target price (down previously from $114.00) on shares of Genuine Parts in a research report on Wednesday, February 21st. Zacks Investment Research upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $112.00 target price for the company in a research report on Tuesday, February 6th. Finally, Royal Bank of Canada dropped their target price on shares of Genuine Parts to $94.00 and set a “market perform” rating for the company in a research report on Friday, April 20th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $99.14.
About Genuine Parts
Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.
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