Candriam Luxembourg S.C.A. Sells 1,216 Shares of Genuine Parts (GPC)
Candriam Luxembourg S.C.A. lessened its stake in Genuine Parts (NYSE:GPC) by 8.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,153 shares of the specialty retailer’s stock after selling 1,216 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Genuine Parts were worth $1,250,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Horan Capital Advisors LLC. purchased a new position in shares of Genuine Parts in the 3rd quarter valued at about $134,000. IBM Retirement Fund purchased a new position in shares of Genuine Parts in the 3rd quarter valued at about $200,000. Savant Capital LLC purchased a new position in shares of Genuine Parts in the 3rd quarter valued at about $208,000. Moors & Cabot Inc. purchased a new position in shares of Genuine Parts in the 3rd quarter valued at about $217,000. Finally, Bredin Investment LLC purchased a new position in shares of Genuine Parts in the 4th quarter valued at about $217,000. Institutional investors and hedge funds own 74.65% of the company’s stock.
GPC has been the topic of several research analyst reports. Zacks Investment Research raised Genuine Parts from a “hold” rating to a “buy” rating and set a $112.00 target price on the stock in a research report on Tuesday, February 6th. Royal Bank of Canada cut their target price on Genuine Parts to $100.00 and set a “market perform” rating on the stock in a research report on Wednesday. Bank of America cut their target price on Genuine Parts from $90.00 to $80.00 and set an “underperform” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. cut their target price on Genuine Parts from $114.00 to $107.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Moffett Nathanson initiated coverage on Genuine Parts in a research report on Monday, December 4th. They set a “sell” rating on the stock. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $97.71.
Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, February 20th. The specialty retailer reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.01. Genuine Parts had a return on equity of 20.73% and a net margin of 3.78%. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the company earned $1.02 EPS. The business’s quarterly revenue was up 11.3% on a year-over-year basis. research analysts forecast that Genuine Parts will post 6.34 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Thursday, March 8th. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.68. Genuine Parts’s dividend payout ratio (DPR) is 64.59%.
About Genuine Parts
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.
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