Assenagon Asset Management S.A. Decreases Stake in Genuine Parts (NYSE:GPC)

Assenagon Asset Management S.A. lowered its position in Genuine Parts (NYSE:GPC) by 50.9% in the 1st quarter, HoldingsChannel reports. The fund owned 41,749 shares of the specialty retailer’s stock after selling 43,278 shares during the period. Assenagon Asset Management S.A.’s holdings in Genuine Parts were worth $4,826,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. IronBridge Private Wealth LLC bought a new position in Genuine Parts in the 4th quarter worth about $26,000. Capital Directions Investment Advisors LLC boosted its position in shares of Genuine Parts by 100.0% during the 4th quarter. Capital Directions Investment Advisors LLC now owns 300 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 150 shares during the last quarter. Penserra Capital Management LLC boosted its position in shares of Genuine Parts by 49.5% during the 4th quarter. Penserra Capital Management LLC now owns 305 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 101 shares during the last quarter. Signet Investment Advisory Group Inc. bought a new stake in shares of Genuine Parts during the 4th quarter valued at about $35,000. Finally, Sterling Financial Planning Inc. bought a new stake in shares of Genuine Parts during the 4th quarter valued at about $36,000. 76.87% of the stock is owned by institutional investors.

Shares of GPC stock opened at $127.25 on Tuesday. The stock has a market cap of $18.38 billion, a price-to-earnings ratio of -94.96 and a beta of 1.05. The business’s fifty day moving average is $118.53 and its 200 day moving average is $104.99. Genuine Parts has a twelve month low of $67.12 and a twelve month high of $128.46. The company has a quick ratio of 0.66, a current ratio of 1.23 and a debt-to-equity ratio of 0.89.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Wednesday, April 21st. The specialty retailer reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.36. The company had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Genuine Parts had a positive return on equity of 23.26% and a negative net margin of 1.10%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 earnings per share. Equities research analysts expect that Genuine Parts will post 5.1 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Friday, June 4th will be issued a $0.815 dividend. This represents a $3.26 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Thursday, June 3rd. Genuine Parts’s dividend payout ratio (DPR) is 57.29%.

A number of equities analysts have commented on GPC shares. Zacks Investment Research raised Genuine Parts from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Tuesday, April 20th. TheStreet raised Genuine Parts from a “c+” rating to a “b” rating in a research note on Monday, April 26th. JPMorgan Chase & Co. boosted their target price on Genuine Parts from $115.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday. Evercore ISI reissued a “hold” rating on shares of Genuine Parts in a research note on Sunday, April 25th. Finally, Argus boosted their target price on Genuine Parts from $109.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, April 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $121.67.

Genuine Parts Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. The company distributes automotive replacement parts for imported vehicles, hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and accessory and supply items used by various automotive aftermarket customers, 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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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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