Camden National Bank increased its position in shares of Genuine Parts (NYSE:GPC) by 0.5% in the third quarter, HoldingsChannel reports. The firm owned 85,957 shares of the specialty retailer’s stock after acquiring an additional 389 shares during the quarter. Genuine Parts accounts for 1.9% of Camden National Bank’s portfolio, making the stock its 28th biggest position. Camden National Bank’s holdings in Genuine Parts were worth $8,560,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in GPC. First Trust Advisors LP increased its stake in shares of Genuine Parts by 5.9% during the first quarter. First Trust Advisors LP now owns 351,993 shares of the specialty retailer’s stock valued at $39,434,000 after buying an additional 19,660 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Genuine Parts by 1.2% during the first quarter. Commonwealth Equity Services LLC now owns 46,583 shares of the specialty retailer’s stock valued at $5,218,000 after buying an additional 564 shares during the period. Trexquant Investment LP increased its stake in shares of Genuine Parts by 442.1% during the first quarter. Trexquant Investment LP now owns 11,558 shares of the specialty retailer’s stock valued at $1,295,000 after buying an additional 9,426 shares during the period. Andra AP fonden purchased a new position in shares of Genuine Parts during the first quarter valued at $7,148,000. Finally, Northeast Financial Consultants Inc purchased a new position in shares of Genuine Parts during the first quarter valued at $336,000. 76.89% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on GPC shares. Raymond James started coverage on Genuine Parts in a research note on Monday. They set a “market perform” rating on the stock. JPMorgan Chase & Co. cut their price target on Genuine Parts from $114.00 to $104.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating and set a $103.00 price target on the stock in a research note on Wednesday, July 24th. Bank of America raised their price target on Genuine Parts from $100.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, Royal Bank of Canada set a $101.00 price target on Genuine Parts and gave the company a “hold” rating in a research note on Friday, July 19th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $105.75.
GPC traded up $2.39 on Friday, hitting $96.91. The company had a trading volume of 53,510 shares, compared to its average volume of 678,640. The stock has a fifty day moving average price of $94.46 and a 200-day moving average price of $99.96. Genuine Parts has a 12-month low of $87.26 and a 12-month high of $115.20. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 1.26. The stock has a market capitalization of $13.52 billion, a price-to-earnings ratio of 17.06, a P/E/G ratio of 3.00 and a beta of 0.95.
Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, July 18th. The specialty retailer reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.08). Genuine Parts had a net margin of 4.17% and a return on equity of 23.16%. The company had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $5 billion. During the same quarter last year, the firm earned $1.59 EPS. Genuine Parts’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts forecast that Genuine Parts will post 5.7 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were paid a dividend of $0.7625 per share. The ex-dividend date was Thursday, September 5th. This represents a $3.05 dividend on an annualized basis and a dividend yield of 3.15%. Genuine Parts’s payout ratio is 53.70%.
Genuine Parts Company Profile
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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