Genuine Parts Company (GPC) : Kerrisdale Advisers scooped up 55,482 additional shares in Genuine Parts Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 210,924 shares of Genuine Parts Company which is valued at $21,408,786.Genuine Parts Company makes up approximately 5.37% of Kerrisdale Advisers’s portfolio.
Other Hedge Funds, Including , Aperio Group boosted its stake in GPC in the latest quarter, The investment management firm added 4,835 additional shares and now holds a total of 76,344 shares of Genuine Parts Company which is valued at $7,748,916. Genuine Parts Company makes up approx 0.06% of Aperio Group’s portfolio.Covington Investment Advisors reduced its stake in GPC by selling 5 shares or 0.01% in the most recent quarter. The Hedge Fund company now holds 39,355 shares of GPC which is valued at $3,994,533. Genuine Parts Company makes up approx 1.73% of Covington Investment Advisors’s portfolio. I.g. Investment Management Ltd. sold out all of its stake in GPC during the most recent quarter. The investment firm sold 100,000 shares of GPC which is valued $10,170,000. Herndon Capital Management added GPC to its portfolio by purchasing 14 company shares during the most recent quarter which is valued at $1,431.Gemmer Asset Management boosted its stake in GPC in the latest quarter, The investment management firm added 29 additional shares and now holds a total of 231 shares of Genuine Parts Company which is valued at $23,077. Genuine Parts Company makes up approx 0.01% of Gemmer Asset Management’s portfolio.
Genuine Parts Company opened for trading at $103.39 and hit $105.18 on the upside on Monday, eventually ending the session at $105.09, with a gain of 1.71% or 1.77 points. The heightened volatility saw the trading volume jump to 4,58,249 shares. Company has a market cap of $15,649 M.
On the company’s financial health, Genuine Parts Company reported $1.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 19, 2016. Analyst had a consensus of $1.29. The company had revenue of $3899.60 million for the quarter, compared to analysts expectations of $3975.85 million. The company’s revenue was down -1.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.28 EPS.
Investors should note that on Aug 15, 2016, Genuine Parts Company announced a cash dividend of $0.6575. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Oct 3, 2016.
Many Wall Street Analysts have commented on Genuine Parts Company. Susquehanna Initiated Genuine Parts Company on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $102.Genuine Parts Company was Downgraded by Jefferies to ” Hold” on Jul 15, 2016. Gabelli & Co Downgraded Genuine Parts Company on Jul 14, 2016 to ” Hold”, Price Target of the shares are set at $106.
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.