Suntrust Banks Inc. trimmed its stake in Genuine Parts (NYSE:GPC) by 15.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,480,301 shares of the specialty retailer’s stock after selling 260,779 shares during the period. Genuine Parts accounts for about 0.8% of Suntrust Banks Inc.’s investment portfolio, making the stock its 19th largest position. Suntrust Banks Inc. owned approximately 1.01% of Genuine Parts worth $140,642,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Trustcore Financial Services LLC acquired a new stake in Genuine Parts in the 4th quarter valued at approximately $107,000. Valeo Financial Advisors LLC grew its holdings in Genuine Parts by 1,061.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,161 shares of the specialty retailer’s stock valued at $110,000 after buying an additional 1,061 shares during the last quarter. Horan Capital Advisors LLC. acquired a new stake in Genuine Parts in the 3rd quarter valued at approximately $134,000. Vestpro Financial Partners Inc. dba CPF Texas acquired a new stake in Genuine Parts in the 4th quarter valued at approximately $192,000. Finally, IBM Retirement Fund acquired a new stake in Genuine Parts in the 3rd quarter valued at approximately $200,000. 74.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Genuine Parts (GPC) opened at $92.53 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $13,467.30, a P/E ratio of 22.14, a PEG ratio of 2.41 and a beta of 1.22. Genuine Parts has a fifty-two week low of $79.86 and a fifty-two week high of $107.75.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, February 20th. The specialty retailer reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.01. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.05 billion. Genuine Parts had a return on equity of 20.48% and a net margin of 3.78%. Genuine Parts’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.02 EPS. research analysts expect that Genuine Parts will post 5.72 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be paid a $0.72 dividend. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.68. The ex-dividend date is Thursday, March 8th. This represents a $2.88 annualized dividend and a yield of 3.11%. Genuine Parts’s payout ratio is currently 64.59%.
A number of analysts have issued reports on GPC shares. Royal Bank of Canada lowered their target price on Genuine Parts to $100.00 and set a “market perform” rating on the stock in a report on Wednesday, February 21st. Zacks Investment Research raised Genuine Parts from a “hold” rating to a “buy” rating and set a $112.00 price objective on the stock in a report on Tuesday, February 6th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $107.00 price objective (down previously from $114.00) on shares of Genuine Parts in a report on Wednesday, February 21st. Bank of America decreased their price objective on Genuine Parts from $90.00 to $80.00 and set an “underperform” rating on the stock in a report on Wednesday, February 21st. Finally, Moffett Nathanson began coverage on Genuine Parts in a report on Monday, December 4th. They set a “sell” rating on the stock. Four research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Genuine Parts presently has a consensus rating of “Hold” and a consensus target price of $97.71.
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.