Argyle Capital Management Inc. decreased its holdings in shares of Genuine Parts (NYSE:GPC – Get Rating) by 0.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,235 shares of the specialty retailer's stock after selling 175 shares during the period. Genuine Parts accounts for 1.6% of Argyle Capital Management Inc.'s portfolio, making the stock its 17th largest position. Argyle Capital Management Inc.'s holdings in Genuine Parts were worth $4,420,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Gradient Investments LLC increased its stake in shares of Genuine Parts by 65.8% during the second quarter. Gradient Investments LLC now owns 189 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 75 shares in the last quarter. First National Trust Co increased its position in shares of Genuine Parts by 0.4% during the first quarter. First National Trust Co now owns 21,502 shares of the specialty retailer's stock valued at $2,710,000 after acquiring an additional 76 shares in the last quarter. Marcum Wealth LLC increased its position in shares of Genuine Parts by 2.8% during the first quarter. Marcum Wealth LLC now owns 2,865 shares of the specialty retailer's stock valued at $361,000 after acquiring an additional 77 shares in the last quarter. Valeo Financial Advisors LLC increased its position in shares of Genuine Parts by 3.8% during the first quarter. Valeo Financial Advisors LLC now owns 2,166 shares of the specialty retailer's stock valued at $273,000 after acquiring an additional 79 shares in the last quarter. Finally, J.W. Cole Advisors Inc. increased its position in shares of Genuine Parts by 3.0% during the first quarter. J.W. Cole Advisors Inc. now owns 2,837 shares of the specialty retailer's stock valued at $358,000 after acquiring an additional 83 shares in the last quarter. Institutional investors own 78.27% of the company's stock.
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Genuine Parts Stock Performance
Shares of Genuine Parts stock traded down $2.50 on Thursday, hitting $150.17. 9,757 shares of the company's stock were exchanged, compared to its average volume of 1,003,293. The company has a 50-day simple moving average of $154.74 and a 200-day simple moving average of $140.44. The stock has a market capitalization of $21.24 billion, a PE ratio of 19.40, a PEG ratio of 1.78 and a beta of 0.97. Genuine Parts has a 1 year low of $115.63 and a 1 year high of $164.99. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 1.17.
Genuine Parts (NYSE:GPC – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The specialty retailer reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.18. The business had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.30 billion. Genuine Parts had a net
margin of 5.38% and a return on equity of 31.67%. The company's revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.74 EPS. As a group, equities analysts anticipate that Genuine Parts will post 7.96 EPS for the current year.
Genuine Parts Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be paid a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Thursday, September 1st. Genuine Parts's dividend payout ratio is presently 46.37%.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on GPC. Wedbush raised their price target on shares of Genuine Parts from $140.00 to $150.00 in a research report on Thursday, July 28th. Evercore ISI cut their target price on shares of Genuine Parts to $135.00 in a research report on Thursday, June 9th. Finally, StockNews.com downgraded shares of Genuine Parts from a "strong-buy" rating to a "buy" rating in a research report on Monday. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $140.20.
Genuine Parts Profile
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Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.
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