Nomura Holdings Inc. raised its stake in Genuine Parts Company (NYSE:GPC) by 10.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 33,929 shares of the specialty retailer’s stock after purchasing an additional 3,322 shares during the period. Nomura Holdings Inc.’s holdings in Genuine Parts were worth $3,147,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sun Life Financial INC boosted its holdings in shares of Genuine Parts by 15,400.0% in the 2nd quarter. Sun Life Financial INC now owns 1,085 shares of the specialty retailer’s stock valued at $101,000 after buying an additional 1,078 shares during the period. Global X Management Co. LLC boosted its holdings in shares of Genuine Parts by 29.3% in the 1st quarter. Global X Management Co. LLC now owns 1,644 shares of the specialty retailer’s stock valued at $152,000 after buying an additional 373 shares during the period. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Genuine Parts by 151.1% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,906 shares of the specialty retailer’s stock valued at $177,000 after buying an additional 1,147 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Genuine Parts by 7.3% in the 1st quarter. Van ECK Associates Corp now owns 2,274 shares of the specialty retailer’s stock valued at $210,000 after buying an additional 155 shares during the period. Finally, QUANTRES ASSET MANAGEMENT Ltd acquired a new position in shares of Genuine Parts in the 1st quarter valued at about $213,000. 74.43% of the stock is owned by institutional investors.
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A number of research analysts have issued reports on GPC shares. Jefferies Group LLC reissued a “hold” rating and set a $95.00 target price on shares of Genuine Parts in a research note on Thursday. Zacks Investment Research raised shares of Genuine Parts from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Royal Bank Of Canada boosted their target price on shares of Genuine Parts from $85.00 to $98.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 26th. BidaskClub lowered shares of Genuine Parts from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Finally, Wedbush reissued a “neutral” rating on shares of Genuine Parts in a research note on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $96.33.
Shares of Genuine Parts Company (NYSE:GPC) traded up 0.32% during mid-day trading on Friday, hitting $96.17. 80,694 shares of the stock were exchanged. Genuine Parts Company has a 1-year low of $79.86 and a 1-year high of $100.90. The company’s 50-day moving average is $89.13 and its 200-day moving average is $89.11. The firm has a market cap of $14.27 billion, a price-to-earnings ratio of 20.95 and a beta of 1.10.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $1.29 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 for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the company earned $1.28 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that Genuine Parts Company will post $4.73 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Thursday, September 7th. Genuine Parts’s dividend payout ratio is currently 58.32%.
Genuine Parts declared 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 often a sign that the company’s management believes its shares are undervalued.
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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