United Services Automobile Association cut its stake in Genuine Parts (NYSE:GPC) by 11.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,120 shares of the specialty retailer’s stock after selling 6,034 shares during the period. United Services Automobile Association’s holdings in Genuine Parts were worth $4,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of the company. Strategic Blueprint LLC acquired a new position in Genuine Parts in the 3rd quarter valued at about $30,000. Marshall Wace North America L.P. purchased a new stake in shares of Genuine Parts during the 1st quarter valued at approximately $44,000. CSat Investment Advisory L.P. lifted its holdings in Genuine Parts by 173.9% in the second quarter. CSat Investment Advisory L.P. now owns 482 shares of the specialty retailer’s stock valued at $50,000 after acquiring an additional 306 shares during the last quarter. Evoke Wealth LLC acquired a new position in Genuine Parts in the third quarter valued at approximately $63,000. Finally, Ropes Wealth Advisors LLC lifted its holdings in Genuine Parts by 150.0% in the third quarter. Ropes Wealth Advisors LLC now owns 750 shares of the specialty retailer’s stock valued at $75,000 after acquiring an additional 450 shares during the last quarter. Institutional investors and hedge funds own 77.40% of the company’s stock.
Genuine Parts stock opened at $100.00 on Wednesday. The company’s 50 day simple moving average is $104.17 and its 200-day simple moving average is $99.73. The company has a market capitalization of $14.37 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 3.12 and a beta of 0.93. Genuine Parts has a 1 year low of $87.26 and a 1 year 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.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, October 17th. The specialty retailer reported $1.50 EPS for the quarter, topping the consensus estimate of $1.47 by $0.03. Genuine Parts had a net margin of 4.14% and a return on equity of 23.20%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the business posted $1.48 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts expect that Genuine Parts will post 5.66 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were given a dividend of $0.7625 per share. The ex-dividend date was Thursday, December 5th. This represents a $3.05 annualized dividend and a dividend yield of 3.05%. Genuine Parts’s dividend payout ratio is currently 53.70%.
Several equities research analysts have issued reports on the company. Raymond James started coverage on Genuine Parts in a research note on Monday, October 7th. They set a “market perform” rating for the company. Royal Bank of Canada set a $99.00 price target on Genuine Parts and gave the company a “hold” rating in a research note on Friday, October 18th. Finally, Goldman Sachs Group lowered Genuine Parts from a “neutral” rating to a “sell” rating and decreased their price target for the company from $101.00 to $93.00 in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $103.75.
In other news, insider Randall P. Breaux sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $107.22, for a total transaction of $107,220.00. Following the completion of the transaction, the insider now directly owns 2,188 shares in the company, valued at $234,597.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.50% of the company’s stock.
Genuine Parts 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.
Read More: Asset Allocation
Receive News & Ratings for Genuine Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts and related companies with MarketBeat.com's FREE daily email newsletter.