Trustmark National Bank Trust Department cut its holdings in Genuine Parts (NYSE:GPC) by 8.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,815 shares of the specialty retailer’s stock after selling 1,545 shares during the period. Trustmark National Bank Trust Department’s holdings in Genuine Parts were worth $1,065,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. FDx Advisors Inc. increased its stake in shares of Genuine Parts by 182.9% in the first quarter. FDx Advisors Inc. now owns 15,114 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 9,772 shares during the period. Cornerstone Advisors Inc. raised its stake in shares of Genuine Parts by 246.9% in the first quarter. Cornerstone Advisors Inc. now owns 496 shares of the specialty retailer’s stock valued at $33,000 after purchasing an additional 353 shares in the last quarter. Procyon Private Wealth Partners LLC bought a new position in Genuine Parts in the fourth quarter worth $38,000. Marshall Wace North America L.P. bought a new position in Genuine Parts in the first quarter worth $44,000. Finally, CSat Investment Advisory L.P. lifted its position in Genuine Parts by 37.9% in the first quarter. CSat Investment Advisory L.P. now owns 899 shares of the specialty retailer’s stock worth $61,000 after purchasing an additional 247 shares during the period. Institutional investors and hedge funds own 77.44% of the company’s stock.
In other Genuine Parts news, Director Thomas Gallagher bought 5,000 shares of the stock in a transaction dated Monday, March 23rd. The stock was bought at an average cost of $55.23 per share, for a total transaction of $276,150.00. Following the completion of the purchase, the director now owns 627,213 shares in the company, valued at approximately $34,640,973.99. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.00% of the company’s stock.
Several research analysts recently commented on the company. S&P Equity Research reduced their target price on Genuine Parts from $85.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Stephens cut Genuine Parts from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 1st. Bank of America raised their target price on Genuine Parts from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Sunday, April 19th. TheStreet cut Genuine Parts from a “b” rating to a “c+” rating in a research report on Wednesday, February 19th. Finally, Cfra reduced their target price on Genuine Parts from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $94.67.
Genuine Parts stock traded down $4.68 during mid-day trading on Thursday, hitting $83.83. 377,107 shares of the company were exchanged, compared to its average volume of 1,055,114. The company has a quick ratio of 0.65, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. The business has a fifty day moving average of $79.07 and a 200 day moving average of $88.16. Genuine Parts has a 1-year low of $49.68 and a 1-year high of $108.58. The company has a market capitalization of $12.77 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 15.41 and a beta of 1.10.
Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Wednesday, May 6th. The specialty retailer reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.20). Genuine Parts had a return on equity of 21.54% and a net margin of 3.11%. The company had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the company earned $1.28 earnings per share. The business’s revenue was down 3.7% compared to the same quarter last year. Research analysts expect that Genuine Parts will post 3.99 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $3.16 annualized dividend and a yield of 3.77%. Genuine Parts’s dividend payout ratio is currently 55.54%.
About Genuine Parts
Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. 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; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.
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