Bowling Portfolio Management LLC decreased its position in shares of Genuine Parts (NYSE:GPC – Get Rating) by 12.2% during the second quarter, Holdings Channel reports. The institutional investor owned 12,522 shares of the specialty retailer's stock after selling 1,737 shares during the period. Bowling Portfolio Management LLC's holdings in Genuine Parts were worth $1,665,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Charter Oak Capital Management LLC purchased a new position in shares of Genuine Parts during the 2nd quarter valued at $25,000. Orca Investment Management LLC lifted its stake in shares of Genuine Parts by 2.9% during the 2nd quarter. Orca Investment Management LLC now owns 2,975 shares of the specialty retailer's stock valued at $396,000 after buying an additional 84 shares in the last quarter. Wealthfront Advisers LLC lifted its stake in shares of Genuine Parts by 30.5% during the 2nd quarter. Wealthfront Advisers LLC now owns 27,183 shares of the specialty retailer's stock valued at $3,615,000 after buying an additional 6,351 shares in the last quarter. Dearborn Partners LLC lifted its stake in Genuine Parts by 3.4% in the 2nd quarter. Dearborn Partners LLC now owns 3,131 shares of the specialty retailer's stock worth $416,000 after purchasing an additional 104 shares in the last quarter. Finally, Eastern Bank purchased a new stake in Genuine Parts in the 2nd quarter worth $201,000. Hedge funds and other institutional investors own 78.27% of the company's stock.
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Wall Street Analyst Weigh In
Several brokerages have commented on GPC. Wedbush boosted their price target on shares of Genuine Parts from $140.00 to $150.00 in a research note on Thursday, July 28th. Evercore ISI decreased their price target on shares of Genuine Parts to $135.00 in a research note on Thursday, June 9th. Finally, StockNews.com downgraded shares of Genuine Parts from a "strong-buy" rating to a "buy" rating in a report on Monday, September 26th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $140.20.
Genuine Parts Stock Performance
Shares of NYSE:GPC opened at $149.32 on Friday. The company has a market capitalization of $21.12 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 1.79 and a beta of 0.97. Genuine Parts has a 12 month low of $115.63 and a 12 month high of $164.99. The firm's 50-day moving average is $154.98 and its 200 day moving average is $140.80. The company has a current ratio of 1.17, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90.
Genuine Parts (NYSE:GPC – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The specialty retailer reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.18. The company had revenue of $5.60 billion during 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 firm's quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.74 EPS. Research analysts predict that Genuine Parts will post 7.96 EPS for the current year.
Genuine Parts Announces Dividend
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 given a $0.895 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $3.58 annualized dividend and a dividend yield of 2.40%. Genuine Parts's payout ratio is presently 46.37%.
Genuine Parts Company 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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