Genuine Parts Company (GPC) Given New $96.00 Price Target at Royal Bank of Canada
Genuine Parts Company (NYSE:GPC) had its target price increased by Royal Bank of Canada from $94.00 to $96.00 in a report published on Thursday. Royal Bank of Canada currently has a sector perform rating on the specialty retailer’s stock.
GPC has been the subject of several other research reports. Zacks Investment Research raised Genuine Parts Company from a sell rating to a hold rating in a report on Tuesday, April 11th. Goldman Sachs Group Inc raised Genuine Parts Company from a sell rating to a neutral rating and upped their price target for the company from $95.00 to $105.00 in a report on Thursday, January 19th. Wedbush reaffirmed a neutral rating on shares of Genuine Parts Company in a report on Tuesday, January 3rd. Finally, Jefferies Group LLC reaffirmed a hold rating and issued a $95.00 price target on shares of Genuine Parts Company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $102.44.
Shares of Genuine Parts Company (NYSE:GPC) traded up 0.31% during mid-day trading on Thursday, reaching $93.19. The company’s stock had a trading volume of 473,992 shares. Genuine Parts Company has a 52-week low of $86.61 and a 52-week high of $105.97. The firm’s 50 day moving average is $92.40 and its 200-day moving average is $95.25. The company has a market capitalization of $13.83 billion, a PE ratio of 20.30 and a beta of 0.93.
Genuine Parts Company (NYSE:GPC) last posted its quarterly earnings data on Wednesday, April 19th. The specialty retailer reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.03. Genuine Parts Company had a return on equity of 21.43% and a net margin of 4.57%. The business earned $3.91 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter in the previous year, the firm earned $1.05 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. Analysts forecast that Genuine Parts Company will post $4.76 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Friday, March 10th were given a $0.675 dividend. This is a positive change from Genuine Parts Company’s previous quarterly dividend of $0.66. This represents a $2.70 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Wednesday, March 8th. Genuine Parts Company’s dividend payout ratio (DPR) is currently 56.68%.
Several hedge funds and other institutional investors have recently bought and sold shares of GPC. Norges Bank bought a new position in Genuine Parts Company during the fourth quarter valued at about $159,718,000. State Street Corp raised its position in Genuine Parts Company by 5.0% in the fourth quarter. State Street Corp now owns 8,539,360 shares of the specialty retailer’s stock valued at $815,858,000 after buying an additional 410,162 shares in the last quarter. Asset Management One Co. Ltd. raised its position in Genuine Parts Company by 427.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 284,896 shares of the specialty retailer’s stock valued at $27,263,000 after buying an additional 230,932 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in Genuine Parts Company during the fourth quarter valued at about $22,052,000. Finally, Panagora Asset Management Inc. raised its position in Genuine Parts Company by 39.3% in the third quarter. Panagora Asset Management Inc. now owns 661,702 shares of the specialty retailer’s stock valued at $66,468,000 after buying an additional 186,830 shares in the last quarter. Institutional investors and hedge funds own 71.75% of the company’s stock.
About Genuine Parts Company
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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