Genuine Parts (NYSE:GPC) released its quarterly earnings data on Thursday. The specialty retailer reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.08), Briefing.com reports. The business had revenue of $4.93 billion for the quarter, compared to analyst estimates of $5 billion. Genuine Parts had a return on equity of 23.16% and a net margin of 4.17%. Genuine Parts’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.59 EPS. Genuine Parts updated its FY 2019 guidance to $5.65-5.75 EPS and its FY19 guidance to $5.65-5.75 EPS.
Shares of NYSE:GPC opened at $95.18 on Friday. The company has a 50 day moving average price of $102.95. Genuine Parts has a 52 week low of $91.04 and a 52 week high of $115.20. The firm has a market capitalization of $13.90 billion, a price-to-earnings ratio of 16.76, a P/E/G ratio of 3.26 and a beta of 0.94. The company has a quick ratio of 0.64, a current ratio of 1.26 and a debt-to-equity ratio of 0.98.
The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were paid a $0.7625 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $3.05 annualized dividend and a dividend yield of 3.20%. Genuine Parts’s payout ratio is currently 53.70%.
In related news, insider Scott Sonnemaker acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average cost of $99.01 per share, for a total transaction of $495,050.00. Following the completion of the acquisition, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $495,050. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Clarfeld Financial Advisors LLC bought a new position in shares of Genuine Parts in the fourth quarter valued at approximately $26,000. NEXT Financial Group Inc bought a new position in shares of Genuine Parts in the second quarter valued at approximately $26,000. Sontag Advisory LLC bought a new position in shares of Genuine Parts in the fourth quarter valued at approximately $29,000. Cutler Group LP boosted its holdings in shares of Genuine Parts by 967.7% in the first quarter. Cutler Group LP now owns 269 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 300 shares in the last quarter. Finally, Trust Department MB Financial Bank N A boosted its holdings in shares of Genuine Parts by 545.7% in the first quarter. Trust Department MB Financial Bank N A now owns 297 shares of the specialty retailer’s stock valued at $33,000 after acquiring an additional 251 shares in the last quarter. Institutional investors and hedge funds own 76.32% of the company’s stock.
Several equities research analysts recently weighed in on GPC shares. JPMorgan Chase & Co. reiterated a “sell” rating and set a $18.00 price objective on shares of ABB in a research note on Monday, July 15th. Goldman Sachs Group upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Thursday, July 11th. Zacks Investment Research upgraded shares of GALP ENERGIA SG/ADR from a “sell” rating to a “hold” rating in a research note on Monday, May 27th. Stephens began coverage on shares of Genuine Parts in a research note on Thursday, May 30th. They issued an “overweight” rating and a $114.00 price target on the stock. Finally, ValuEngine upgraded shares of Alleghany from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Genuine Parts presently has a consensus rating of “Hold” and an average target price of $107.33.
About Genuine Parts
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.
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