D.a. Davidson buys $23,194,841 stake in Genuine Parts Company (GPC)

Genuine Parts Company (GPC) : D.a. Davidson scooped up 17,538 additional shares in Genuine Parts Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 241,236 shares of Genuine Parts Company which is valued at $23,194,841.Genuine Parts Company makes up approximately 0.58% of D.a. Davidson’s portfolio.

Other Hedge Funds, Including , Zebra Capital Management boosted its stake in GPC in the latest quarter, The investment management firm added 1,274 additional shares and now holds a total of 13,297 shares of Genuine Parts Company which is valued at $1,278,507. Genuine Parts Company makes up approx 0.38% of Zebra Capital Management’s portfolio.Winton Group Ltd boosted its stake in GPC in the latest quarter, The investment management firm added 123,506 additional shares and now holds a total of 415,900 shares of Genuine Parts Company which is valued at $36,861,217. Genuine Parts Company makes up approx 0.65% of Winton Group Ltd’s portfolio.Plante Moran Financial Advisors reduced its stake in GPC by selling 125 shares or 59.52% in the most recent quarter. The Hedge Fund company now holds 85 shares of GPC which is valued at $7,472. Genuine Parts Company makes up approx 0.01% of Plante Moran Financial Advisors’s portfolio.World Asset Management Inc reduced its stake in GPC by selling 3,200 shares or 14.43% in the most recent quarter. The Hedge Fund company now holds 18,971 shares of GPC which is valued at $1,718,583. Genuine Parts Company makes up approx 0.06% of World Asset Management Inc’s portfolio. Chicago Equity Partners sold out all of its stake in GPC during the most recent quarter. The investment firm sold 2,340 shares of GPC which is valued $211,981.

Genuine Parts Company closed down -0.05 points or -0.05% at $94.55 with 10,38,931 shares getting traded on Monday. Post opening the session at $94.5, the shares hit an intraday low of $93.98 and an intraday high of $94.87 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Genuine Parts Company reported $1.24 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Oct 19, 2016. Analyst had a consensus of $1.28. The company had revenue of $3941.74 million for the quarter, compared to analysts expectations of $4021.99 million. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 EPS.

Investors should note that on Nov 14, 2016, Genuine Parts Company announced a cash dividend of $0.6575. The company’s management has announced Dec 7, 2016 as the ex-dividend date and fixed the record date on Dec 9, 2016. The payable date has been fixed on Jan 3, 2017.

Many Wall Street Analysts have commented on Genuine Parts Company. Shares were Reiterated by Wedbush on Oct 20, 2016 to “Neutral” and Lowered the Price Target to $ 95 from a previous price target of $98 .Susquehanna Initiated Genuine Parts Company on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $102.

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 operates through four segments: Automotive Parts Group which distributes automotive parts and accessory items; Industrial Parts Group which distributes industrial replacement parts and related supplies; Office Products Group which is engaged in the wholesale distribution of a line of office and other business related products and Electrical/Electronic Materials Group which distributes materials to more than 20000 electrical and electronic manufacturers as well as industrial assembly and specialty wire and cable markets in North America. In 2014 the Company’s business was conducted from approximately 2600 locations throughout the United States Canada Mexico Australia and New Zealand.

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