APG Asset Management N.V. Boosts Stake in Genuine Parts (NYSE:GPC)

APG Asset Management N.V. boosted its stake in shares of Genuine Parts (NYSE:GPC) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 560,557 shares of the specialty retailer’s stock after buying an additional 20,600 shares during the period. APG Asset Management N.V.’s holdings in Genuine Parts were worth $59,780,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Genuine Parts by 22.0% during the 2nd quarter. BlackRock Inc. now owns 14,191,810 shares of the specialty retailer’s stock valued at $1,794,838,000 after purchasing an additional 2,561,204 shares during the last quarter. Candlestick Capital Management LP purchased a new stake in shares of Genuine Parts during the 1st quarter valued at $52,814,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Genuine Parts during the 1st quarter valued at $35,512,000. AQR Capital Management LLC lifted its holdings in shares of Genuine Parts by 61.3% during the 1st quarter. AQR Capital Management LLC now owns 540,691 shares of the specialty retailer’s stock valued at $62,498,000 after purchasing an additional 205,442 shares during the last quarter. Finally, Rinet Co LLC purchased a new stake in shares of Genuine Parts during the 1st quarter valued at $15,417,000. Institutional investors own 76.76% of the company’s stock.

Shares of GPC opened at $124.17 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.62 and a current ratio of 1.18. Genuine Parts has a one year low of $88.99 and a one year high of $135.93. The stock has a market capitalization of $17.78 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.02 and a beta of 1.11. The stock has a 50 day moving average price of $123.07 and a 200 day moving average price of $125.02.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, July 22nd. The specialty retailer reported $1.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.20. The company had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.34 billion. Genuine Parts had a return on equity of 28.92% and a net margin of 4.55%. The firm’s quarterly revenue was up 25.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.32 EPS. On average, analysts predict that Genuine Parts will post 6.4 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 1st. Shareholders of record on Friday, September 3rd were issued a $0.815 dividend. This represents a $3.26 annualized dividend and a yield of 2.63%. The ex-dividend date was Thursday, September 2nd. Genuine Parts’s payout ratio is currently 61.86%.

Separately, Zacks Investment Research upgraded Genuine Parts from a “hold” rating to a “buy” rating and set a $135.00 price objective for the company in a research note on Tuesday, July 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $129.17.

In other Genuine Parts news, Director John R. Holder purchased 2,000 shares of the firm’s stock in a transaction dated Friday, August 13th. The shares were acquired at an average price of $124.93 per share, with a total value of $249,860.00. Following the purchase, the director now directly owns 17,482 shares in the company, valued at approximately $2,184,026.26. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.50% of the stock is owned by corporate insiders.

Genuine Parts Company Profile

Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group and Industrial Parts Group. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.

Featured Article: S&P 500 Index

Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts (NYSE:GPC).

Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

Receive News & Ratings for Genuine Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts and related companies with MarketBeat.com's FREE daily email newsletter.