Intrinsic value of Genuine Parts - GPC

Previous Close

$98.27

  Intrinsic Value

$92.72

stock screener

  Rating & Target

hold

-6%

Previous close

$98.27

 
Intrinsic value

$92.72

 
Up/down potential

-6%

 
Rating

hold

We calculate the intrinsic value of GPC stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 14.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
  5.22
  5.20
  5.18
  5.16
  5.14
  5.13
  5.12
  5.10
  5.09
  5.08
  5.08
  5.07
  5.06
Revenue, $m
  17,336
  18,406
  19,520
  20,681
  21,892
  23,154
  24,472
  25,848
  27,285
  28,786
  30,356
  31,998
  33,715
  35,513
  37,394
  39,364
  41,427
  43,588
  45,852
  48,225
  50,713
  53,320
  56,055
  58,922
  61,929
  65,084
  68,392
  71,864
  75,506
  79,327
Variable operating expenses, $m
  16,101
  17,072
  18,084
  19,138
  20,238
  21,384
  22,581
  23,831
  25,136
  26,500
  27,570
  29,061
  30,621
  32,253
  33,961
  35,750
  37,624
  39,587
  41,643
  43,799
  46,058
  48,426
  50,909
  53,514
  56,245
  59,109
  62,115
  65,267
  68,575
  72,046
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  16,101
  17,072
  18,084
  19,138
  20,238
  21,384
  22,581
  23,831
  25,136
  26,500
  27,570
  29,061
  30,621
  32,253
  33,961
  35,750
  37,624
  39,587
  41,643
  43,799
  46,058
  48,426
  50,909
  53,514
  56,245
  59,109
  62,115
  65,267
  68,575
  72,046
Operating income, $m
  1,236
  1,334
  1,436
  1,543
  1,654
  1,770
  1,891
  2,017
  2,149
  2,287
  2,786
  2,937
  3,095
  3,260
  3,432
  3,613
  3,803
  4,001
  4,209
  4,427
  4,655
  4,894
  5,145
  5,409
  5,685
  5,974
  6,278
  6,596
  6,931
  7,282
EBITDA, $m
  1,952
  2,072
  2,198
  2,329
  2,465
  2,607
  2,755
  2,910
  3,072
  3,241
  3,418
  3,603
  3,796
  3,998
  4,210
  4,432
  4,664
  4,908
  5,163
  5,430
  5,710
  6,003
  6,311
  6,634
  6,973
  7,328
  7,700
  8,091
  8,501
  8,932
Interest expense (income), $m
  19
  175
  206
  238
  271
  305
  341
  379
  418
  459
  502
  547
  594
  643
  694
  747
  803
  862
  923
  988
  1,055
  1,126
  1,200
  1,278
  1,359
  1,445
  1,534
  1,628
  1,727
  1,830
  1,939
Earnings before tax, $m
  1,061
  1,128
  1,199
  1,272
  1,349
  1,429
  1,512
  1,599
  1,690
  1,785
  2,240
  2,343
  2,452
  2,566
  2,685
  2,810
  2,941
  3,077
  3,221
  3,371
  3,529
  3,694
  3,867
  4,049
  4,240
  4,440
  4,650
  4,870
  5,100
  5,343
Tax expense, $m
  286
  305
  324
  343
  364
  386
  408
  432
  456
  482
  605
  633
  662
  693
  725
  759
  794
  831
  870
  910
  953
  997
  1,044
  1,093
  1,145
  1,199
  1,255
  1,315
  1,377
  1,443
Net income, $m
  774
  824
  875
  929
  985
  1,043
  1,104
  1,167
  1,234
  1,303
  1,635
  1,711
  1,790
  1,873
  1,960
  2,051
  2,147
  2,247
  2,351
  2,461
  2,576
  2,697
  2,823
  2,956
  3,095
  3,241
  3,394
  3,555
  3,723
  3,900

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  13,194
  14,008
  14,856
  15,739
  16,660
  17,621
  18,624
  19,671
  20,765
  21,908
  23,102
  24,352
  25,659
  27,026
  28,458
  29,957
  31,527
  33,172
  34,895
  36,701
  38,594
  40,579
  42,660
  44,842
  47,130
  49,531
  52,049
  54,691
  57,463
  60,371
Adjusted assets (=assets-cash), $m
  13,194
  14,008
  14,856
  15,739
  16,660
  17,621
  18,624
  19,671
  20,765
  21,908
  23,102
  24,352
  25,659
  27,026
  28,458
  29,957
  31,527
  33,172
  34,895
  36,701
  38,594
  40,579
  42,660
  44,842
  47,130
  49,531
  52,049
  54,691
  57,463
  60,371
Revenue / Adjusted assets
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
  1.314
Average production assets, $m
  3,606
  3,828
  4,060
  4,302
  4,553
  4,816
  5,090
  5,376
  5,675
  5,988
  6,314
  6,656
  7,013
  7,387
  7,778
  8,188
  8,617
  9,066
  9,537
  10,031
  10,548
  11,091
  11,659
  12,256
  12,881
  13,537
  14,226
  14,948
  15,705
  16,500
Working capital, $m
  139
  147
  156
  165
  175
  185
  196
  207
  218
  230
  243
  256
  270
  284
  299
  315
  331
  349
  367
  386
  406
  427
  448
  471
  495
  521
  547
  575
  604
  635
Total debt, $m
  3,810
  4,400
  5,015
  5,656
  6,323
  7,020
  7,747
  8,506
  9,299
  10,128
  10,994
  11,900
  12,847
  13,839
  14,877
  15,963
  17,102
  18,294
  19,544
  20,853
  22,225
  23,664
  25,173
  26,755
  28,414
  30,155
  31,980
  33,895
  35,905
  38,014
Total liabilities, $m
  9,565
  10,156
  10,770
  11,411
  12,079
  12,775
  13,502
  14,262
  15,054
  15,883
  16,749
  17,655
  18,602
  19,594
  20,632
  21,719
  22,857
  24,050
  25,299
  26,608
  27,981
  29,420
  30,928
  32,510
  34,170
  35,910
  37,736
  39,651
  41,660
  43,769
Total equity, $m
  3,628
  3,852
  4,085
  4,328
  4,582
  4,846
  5,122
  5,410
  5,710
  6,025
  6,353
  6,697
  7,056
  7,432
  7,826
  8,238
  8,670
  9,122
  9,596
  10,093
  10,613
  11,159
  11,731
  12,331
  12,961
  13,621
  14,313
  15,040
  15,802
  16,602
Total liabilities and equity, $m
  13,193
  14,008
  14,855
  15,739
  16,661
  17,621
  18,624
  19,672
  20,764
  21,908
  23,102
  24,352
  25,658
  27,026
  28,458
  29,957
  31,527
  33,172
  34,895
  36,701
  38,594
  40,579
  42,659
  44,841
  47,131
  49,531
  52,049
  54,691
  57,462
  60,371
Debt-to-equity ratio
  1.050
  1.140
  1.230
  1.310
  1.380
  1.450
  1.510
  1.570
  1.630
  1.680
  1.730
  1.780
  1.820
  1.860
  1.900
  1.940
  1.970
  2.010
  2.040
  2.070
  2.090
  2.120
  2.150
  2.170
  2.190
  2.210
  2.230
  2.250
  2.270
  2.290
Adjusted equity ratio
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275
  0.275

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  774
  824
  875
  929
  985
  1,043
  1,104
  1,167
  1,234
  1,303
  1,635
  1,711
  1,790
  1,873
  1,960
  2,051
  2,147
  2,247
  2,351
  2,461
  2,576
  2,697
  2,823
  2,956
  3,095
  3,241
  3,394
  3,555
  3,723
  3,900
Depreciation, amort., depletion, $m
  716
  738
  761
  786
  811
  837
  864
  893
  923
  954
  631
  666
  701
  739
  778
  819
  862
  907
  954
  1,003
  1,055
  1,109
  1,166
  1,226
  1,288
  1,354
  1,423
  1,495
  1,571
  1,650
Funds from operations, $m
  1,490
  1,562
  1,637
  1,714
  1,795
  1,880
  1,968
  2,060
  2,156
  2,257
  2,266
  2,376
  2,491
  2,612
  2,738
  2,870
  3,008
  3,153
  3,305
  3,464
  3,631
  3,806
  3,989
  4,182
  4,383
  4,595
  4,817
  5,050
  5,294
  5,550
Change in working capital, $m
  8
  9
  9
  9
  10
  10
  11
  11
  11
  12
  13
  13
  14
  14
  15
  16
  17
  17
  18
  19
  20
  21
  22
  23
  24
  25
  26
  28
  29
  31
Cash from operations, $m
  1,482
  1,553
  1,628
  1,705
  1,786
  1,870
  1,958
  2,049
  2,145
  2,245
  2,254
  2,363
  2,478
  2,597
  2,723
  2,854
  2,992
  3,136
  3,287
  3,445
  3,611
  3,785
  3,967
  4,159
  4,359
  4,570
  4,790
  5,022
  5,265
  5,520
Maintenance CAPEX, $m
  -340
  -361
  -383
  -406
  -430
  -455
  -482
  -509
  -538
  -568
  -599
  -631
  -666
  -701
  -739
  -778
  -819
  -862
  -907
  -954
  -1,003
  -1,055
  -1,109
  -1,166
  -1,226
  -1,288
  -1,354
  -1,423
  -1,495
  -1,571
New CAPEX, $m
  -209
  -222
  -232
  -241
  -252
  -263
  -274
  -286
  -299
  -312
  -327
  -341
  -357
  -374
  -391
  -410
  -429
  -450
  -471
  -494
  -517
  -542
  -569
  -596
  -625
  -656
  -688
  -722
  -758
  -795
Cash from investing activities, $m
  -549
  -583
  -615
  -647
  -682
  -718
  -756
  -795
  -837
  -880
  -926
  -972
  -1,023
  -1,075
  -1,130
  -1,188
  -1,248
  -1,312
  -1,378
  -1,448
  -1,520
  -1,597
  -1,678
  -1,762
  -1,851
  -1,944
  -2,042
  -2,145
  -2,253
  -2,366
Free cash flow, $m
  933
  970
  1,013
  1,057
  1,104
  1,152
  1,202
  1,254
  1,308
  1,365
  1,328
  1,390
  1,455
  1,522
  1,593
  1,667
  1,744
  1,825
  1,909
  1,998
  2,091
  2,188
  2,290
  2,396
  2,508
  2,625
  2,748
  2,877
  3,012
  3,154
Issuance/(repayment) of debt, $m
  565
  590
  615
  641
  668
  697
  727
  759
  793
  829
  866
  906
  948
  992
  1,038
  1,087
  1,138
  1,192
  1,249
  1,309
  1,372
  1,439
  1,509
  1,582
  1,659
  1,740
  1,826
  1,915
  2,010
  2,109
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  565
  590
  615
  641
  668
  697
  727
  759
  793
  829
  866
  906
  948
  992
  1,038
  1,087
  1,138
  1,192
  1,249
  1,309
  1,372
  1,439
  1,509
  1,582
  1,659
  1,740
  1,826
  1,915
  2,010
  2,109
Total cash flow (excl. dividends), $m
  1,498
  1,561
  1,628
  1,698
  1,772
  1,848
  1,929
  2,013
  2,101
  2,194
  2,195
  2,296
  2,402
  2,514
  2,631
  2,754
  2,882
  3,017
  3,159
  3,307
  3,463
  3,627
  3,798
  3,978
  4,167
  4,366
  4,574
  4,792
  5,022
  5,263
Retained Cash Flow (-), $m
  -216
  -224
  -233
  -243
  -253
  -264
  -276
  -288
  -301
  -314
  -329
  -344
  -359
  -376
  -394
  -412
  -432
  -452
  -474
  -497
  -521
  -546
  -572
  -600
  -629
  -660
  -692
  -726
  -762
  -800
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  16
  17
  18
  20
  21
  22
  23
  24
  26
  27
  29
  30
  32
  34
  36
  37
  39
  41
  44
  46
  48
  51
  53
  56
  59
  62
  65
  68
  72
  76
Cash available for distribution, $m
  1,282
  1,337
  1,395
  1,455
  1,518
  1,584
  1,653
  1,725
  1,801
  1,879
  1,866
  1,953
  2,043
  2,138
  2,237
  2,341
  2,450
  2,565
  2,685
  2,811
  2,942
  3,081
  3,226
  3,378
  3,538
  3,706
  3,881
  4,066
  4,260
  4,463
Discount rate, %
  6.60
  6.93
  7.28
  7.64
  8.02
  8.42
  8.84
  9.29
  9.75
  10.24
  10.75
  11.29
  11.85
  12.45
  13.07
  13.72
  14.41
  15.13
  15.88
  16.68
  17.51
  18.39
  19.31
  20.27
  21.29
  22.35
  23.47
  24.64
  25.87
  27.17
PV of cash for distribution, $m
  1,203
  1,169
  1,130
  1,084
  1,032
  975
  913
  848
  779
  709
  607
  541
  476
  414
  355
  299
  249
  203
  163
  129
  99
  75
  56
  40
  28
  20
  13
  9
  5
  3
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

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's segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other. The automotive segment distributes replacement parts for all makes and models of automobiles, trucks and other vehicles. The industrial segment distributes a range of industrial bearings, mechanical and fluid power transmission equipment, including hydraulic and pneumatic products, material handling components and related parts and supplies. The office products segment distributes a range of office products, computer supplies, office furniture, and business electronics. The electrical/electronic materials segment distributes a range of electrical/electronic materials, including insulating and conductive materials for use in electronic and electrical apparatus.

FINANCIAL RATIOS  of  Genuine Parts (GPC)

Valuation Ratios
P/E Ratio 21.2
Price to Sales 1
Price to Book 4.6
Price to Tangible Book
Price to Cash Flow 15.4
Price to Free Cash Flow 18.6
Growth Rates
Sales Growth Rate 0.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 46.4%
Cap. Spend. - 3 Yr. Gr. Rate 5.4%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 18.4%
Total Debt to Equity 28.6%
Interest Coverage 58
Management Effectiveness
Return On Assets 8.2%
Ret/ On Assets - 3 Yr. Avg. 8.7%
Return On Total Capital 17.4%
Ret/ On T. Cap. - 3 Yr. Avg. 17.5%
Return On Equity 21.7%
Return On Equity - 3 Yr. Avg. 21.7%
Asset Turnover 1.8
Profitability Ratios
Gross Margin 30%
Gross Margin - 3 Yr. Avg. 29.9%
EBITDA Margin 8.1%
EBITDA Margin - 3 Yr. Avg. 8.3%
Operating Margin 7%
Oper. Margin - 3 Yr. Avg. 7.2%
Pre-Tax Margin 7%
Pre-Tax Margin - 3 Yr. Avg. 7.2%
Net Profit Margin 4.5%
Net Profit Margin - 3 Yr. Avg. 4.6%
Effective Tax Rate 36%
Eff/ Tax Rate - 3 Yr. Avg. 36.5%
Payout Ratio 56.3%

GPC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GPC stock intrinsic value calculation we used $16309 million for the last fiscal year's total revenue generated by Genuine Parts. The default revenue input number comes from 2017 income statement of Genuine Parts. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our GPC stock valuation model: a) initial revenue growth rate of 6.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.6%, whose default value for GPC is calculated based on our internal credit rating of Genuine Parts, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Genuine Parts.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of GPC stock the variable cost ratio is equal to 93%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for GPC stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Genuine Parts.

Corporate tax rate of 27% is the nominal tax rate for Genuine Parts. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the GPC stock is equal to 0.1%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for GPC are equal to 20.8%.

Life of production assets of 10 years is the average useful life of capital assets used in Genuine Parts operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for GPC is equal to 0.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $3412 million for Genuine Parts - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 147 million for Genuine Parts is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Genuine Parts at the current share price and the inputted number of shares is $14.4 billion.

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COMPANY NEWS

▶ 3 Reliable Dividend Stocks for Your Portfolio   [Jul-23-18 08:18AM  Motley Fool]
▶ Genuine Parts credits acquisitions for record-breaking quarter   [Jul-19-18 11:09AM  American City Business Journals]
▶ [$$] Genuine Parts Ups Sales Guidance   [09:45AM  The Wall Street Journal]
▶ Genuine Parts: 2Q Earnings Snapshot   [08:39AM  Associated Press]
▶ Genuine Parts buys German part supplier, expands European footprint   [Jun-07-18 11:12AM  American City Business Journals]
▶ Atlanta loses another great leader Wilton Looney at 99   [Jun-04-18 06:49AM  American City Business Journals]
▶ You Should Diversify With These Dividend Stocks   [May-23-18 09:02AM  Simply Wall St.]
▶ Genuine Parts not spooked by Staples, calls its merger proposal 'superior'   [May-17-18 10:53AM  American City Business Journals]
▶ Georgia-Pacific plans companys first innovation center in Midtown   [May-11-18 03:00AM  American City Business Journals]
▶ Genuine Parts: 1Q Earnings Snapshot   [08:41AM  Associated Press]
▶ Genuine Parts spins off S.P. Richards in merger   [Apr-13-18 12:58PM  American City Business Journals]
▶ Deals of the day-Mergers and acquisitions   [Apr-12-18 04:02PM  Reuters]
▶ 5 Dividend Stocks Rewarding Shareholders With a Raise   [Mar-01-18 09:00AM  InvestorPlace]
▶ Investors Favorite Dividend Stocks   [08:02AM  Simply Wall St.]
▶ Genuine Parts tops Street 4Q forecasts   [09:21AM  Associated Press]
▶ Top 3 Consumer Cyclical Stocks for 2018   [Feb-07-18 04:40PM  Investopedia]
▶ 3 Growth-Driven Dividend Aristocrats to Buy   [Jan-23-18 02:38PM  InvestorPlace]
▶ Gunpowder Invests in BitBlox Technologies Inc.   [Jan-08-18 08:59AM  Newsfile]
▶ Gunpowder Capital Corp. Declares Quarterly Dividend   [Jan-04-18 05:00PM  Newsfile]
▶ Top 4 Consumer Cyclical Stocks for 2017   [Nov-30-17 06:00AM  Investopedia]
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