OLD Mutual Customised Solutions Proprietary Ltd. raised its holdings in shares of Genuine Parts (NYSE:GPC) by 131.8% during the second quarter, HoldingsChannel.com reports. The firm owned 8,441 shares of the specialty retailer’s stock after purchasing an additional 4,800 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Genuine Parts were worth $775,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. NumerixS Investment Technologies Inc purchased a new position in Genuine Parts during the 2nd quarter valued at about $110,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Genuine Parts by 87.8% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,613 shares of the specialty retailer’s stock valued at $148,000 after buying an additional 754 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Genuine Parts in the 2nd quarter valued at about $158,000. Wagner Wealth Management LLC boosted its holdings in shares of Genuine Parts by 78.0% in the 1st quarter. Wagner Wealth Management LLC now owns 1,869 shares of the specialty retailer’s stock valued at $168,000 after buying an additional 819 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its holdings in shares of Genuine Parts by 50.3% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 1,828 shares of the specialty retailer’s stock valued at $168,000 after buying an additional 612 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.
GPC has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Royal Bank of Canada raised their price target on shares of Genuine Parts to $99.00 and gave the company a “sector perform” rating in a report on Thursday, July 12th. Finally, Wedbush raised their price target on shares of Genuine Parts from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, July 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $101.50.
Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, July 19th. The specialty retailer reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.01. The company had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.69 billion. Genuine Parts had a net margin of 3.78% and a return on equity of 21.62%. Genuine Parts’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period last year, the business earned $1.29 EPS. equities research analysts forecast that Genuine Parts will post 5.66 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 7th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Thursday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 62.07%.
In related news, insider James R. Neill sold 512 shares of Genuine Parts stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $97.94, for a total value of $50,145.28. Following the completion of the sale, the insider now directly owns 5,661 shares in the company, valued at approximately $554,438.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is owned by company insiders.
Genuine Parts Profile
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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