Genuine Parts (NYSE:GPC) Shares Acquired by JustInvest LLC

JustInvest LLC boosted its holdings in shares of Genuine Parts (NYSE:GPC) by 247.7% in the 2nd quarter, Holdings Channel reports. The firm owned 6,373 shares of the specialty retailer’s stock after buying an additional 4,540 shares during the period. JustInvest LLC’s holdings in Genuine Parts were worth $806,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of Genuine Parts by 5.5% in the 1st quarter. Geode Capital Management LLC now owns 2,509,578 shares of the specialty retailer’s stock valued at $289,474,000 after acquiring an additional 130,953 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Genuine Parts by 10.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,713,075 shares of the specialty retailer’s stock worth $198,014,000 after buying an additional 155,733 shares in the last quarter. Cullen Capital Management LLC lifted its position in Genuine Parts by 1.9% in the 2nd quarter. Cullen Capital Management LLC now owns 1,620,987 shares of the specialty retailer’s stock worth $205,006,000 after buying an additional 29,914 shares in the last quarter. Stifel Financial Corp lifted its position in Genuine Parts by 2.3% in the 1st quarter. Stifel Financial Corp now owns 1,407,526 shares of the specialty retailer’s stock worth $162,695,000 after buying an additional 32,158 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Genuine Parts by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 886,930 shares of the specialty retailer’s stock worth $102,534,000 after buying an additional 19,246 shares in the last quarter. 76.76% of the stock is owned by institutional investors and hedge funds.

Shares of GPC opened at $122.00 on Monday. The company’s fifty day moving average is $124.62 and its 200-day moving average is $124.00. Genuine Parts has a 12 month low of $88.99 and a 12 month high of $135.93. The firm has a market cap of $17.47 billion, a price-to-earnings ratio of 21.75, a price-to-earnings-growth ratio of 2.02 and a beta of 1.11. The company has a quick ratio of 0.62, a current ratio of 1.18 and a debt-to-equity ratio of 0.76.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 3rd will be paid a $0.815 dividend. The ex-dividend date is Thursday, September 2nd. This represents a $3.26 dividend on an annualized basis and a yield of 2.67%. Genuine Parts’s payout ratio is presently 61.86%.

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

In other news, Director John R. Holder bought 2,000 shares of the stock in a transaction that occurred on Friday, August 13th. The shares were acquired at an average cost of $124.93 per share, for a total transaction of $249,860.00. Following the purchase, the director now owns 17,482 shares of the company’s stock, valued at approximately $2,184,026.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.50% of the company’s stock.

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.

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

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