Latest Stocks: Genuine Parts Company (GPC) Shares Sold by Suntrust Banks Inc.

Latest Stocks: Genuine Parts Company (GPC) Shares Sold by Suntrust Banks Inc.

Suntrust Banks Inc. reduced its stake in shares of Genuine Parts Company (NYSE:GPC) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,825,440 shares of the specialty retailer’s stock after selling 24,098 shares during the period. Genuine Parts Company accounts for 1.0% of Suntrust Banks Inc.’s investment portfolio, making the stock its 14th largest position. Suntrust Banks Inc. owned 1.24% of Genuine Parts Company worth $168,687,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the stock. Rothschild Asset Management Inc. raised its stake in shares of Genuine Parts Company by 26.8% in the third quarter. Rothschild Asset Management Inc. now owns 4,943 shares of the specialty retailer’s stock valued at $497,000 after buying an additional 1,046 shares during the period. Capital One National Association acquired a new position in Genuine Parts Company during the third quarter worth $489,000. Manning & Napier Advisors LLC raised its position in Genuine Parts Company by 0.8% in the third quarter. Manning & Napier Advisors LLC now owns 22,727 shares of the specialty retailer’s stock worth $2,282,000 after buying an additional 191 shares during the last quarter. Wells Fargo & Company MN raised its position in Genuine Parts Company by 5.4% in the third quarter. Wells Fargo & Company MN now owns 1,770,615 shares of the specialty retailer’s stock worth $177,858,000 after buying an additional 90,860 shares during the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new position in Genuine Parts Company during the third quarter valued at $311,000. Institutional investors and hedge funds own 71.75% of the company’s stock.

Genuine Parts Company (GPC) opened at 93.78 on Tuesday. The firm’s 50-day moving average is $92.26 and its 200 day moving average is $95.00. Genuine Parts Company has a 12-month low of $86.61 and a 12-month high of $105.97. The firm has a market cap of $13.82 billion, a PE ratio of 20.29 and a beta of 0.93.

Genuine Parts Company (NYSE:GPC) last announced its earnings results on Wednesday, April 19th. The specialty retailer reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03. The firm had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.85 billion. Genuine Parts Company had a return on equity of 21.43% and a net margin of 4.57%. The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 earnings per share. Equities research analysts predict that Genuine Parts Company will post $4.81 EPS for the current year. The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Friday, June 9th will be issued a dividend of $0.675 per share. The ex-dividend date is Wednesday, June 7th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 2.88%. Genuine Parts Company’s dividend payout ratio (DPR) is presently 56.68%.

Genuine Parts Company (NYSE:GPC) last announced its earnings results on Wednesday, April 19th. The specialty retailer reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03. The firm had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.85 billion. Genuine Parts Company had a return on equity of 21.43% and a net margin of 4.57%. The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 earnings per share. Equities research analysts predict that Genuine Parts Company will post $4.81 EPS for the current year. Several research firms have weighed in on GPC. Zacks Investment Research upgraded shares of Genuine Parts Company from a “sell” rating to a “hold” rating in a report on Tuesday, February 14th. Goldman Sachs Group Inc reiterated a “neutral” rating and issued a $104.00 target price (up from $98.00) on shares of Genuine Parts Company in a report on Saturday, April 22nd. Royal Bank of Canada boosted their target price on shares of Genuine Parts Company from $94.00 to $96.00 and gave the company a “sector perform” rating in a report on Thursday, April 20th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $95.00 price target on shares of Genuine Parts Company in a research note on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $102.33.

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