Westhampton Capital LLC acquired a new stake in shares of Genuine Parts (NYSE:GPC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,951 shares of the specialty retailer’s stock, valued at approximately $720,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in GPC. Achmea Investment Management B.V. grew its stake in shares of Genuine Parts by 28.1% during the second quarter. Achmea Investment Management B.V. now owns 27,624 shares of the specialty retailer’s stock worth $2,861,000 after buying an additional 6,055 shares during the last quarter. Enlightenment Research LLC bought a new stake in shares of Genuine Parts during the second quarter worth $256,000. Teacher Retirement System of Texas grew its stake in shares of Genuine Parts by 6.1% during the second quarter. Teacher Retirement System of Texas now owns 192,975 shares of the specialty retailer’s stock worth $19,988,000 after buying an additional 11,173 shares during the last quarter. Homrich & Berg grew its stake in shares of Genuine Parts by 6.2% during the second quarter. Homrich & Berg now owns 11,907 shares of the specialty retailer’s stock worth $1,233,000 after buying an additional 697 shares during the last quarter. Finally, Heritage Wealth Advisors grew its stake in shares of Genuine Parts by 510.9% during the second quarter. Heritage Wealth Advisors now owns 837 shares of the specialty retailer’s stock worth $87,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds own 77.93% of the company’s stock.
Shares of Genuine Parts stock traded down $1.21 during trading on Friday, hitting $88.60. The company’s stock had a trading volume of 19,804 shares, compared to its average volume of 792,763. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.26 and a quick ratio of 0.68. Genuine Parts has a 52 week low of $87.92 and a 52 week high of $115.20. The stock has a market cap of $13.00 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 3.14 and a beta of 0.92. The stock has a 50-day moving average price of $96.54 and a two-hundred day moving average price of $102.90.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, July 18th. The specialty retailer reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.08). The business had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $5 billion. Genuine Parts had a return on equity of 23.16% and a net margin of 4.17%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.59 EPS. On average, equities analysts predict that Genuine Parts will post 5.7 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be given a dividend of $0.7625 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.05 dividend on an annualized basis and a yield of 3.44%. Genuine Parts’s dividend payout ratio (DPR) is currently 53.70%.
A number of research firms have weighed in on GPC. Zacks Investment Research raised shares of Genuine Parts from a “sell” rating to a “hold” rating and set a $103.00 target price on the stock in a research note on Wednesday, July 24th. Stephens began coverage on shares of Genuine Parts in a research note on Thursday, May 30th. They set an “overweight” rating and a $114.00 target price on the stock. Goldman Sachs Group assumed coverage on shares of Genuine Parts in a research note on Thursday, July 11th. They set a “neutral” rating and a $107.00 target price on the stock. Jefferies Financial Group set a $102.00 price objective on shares of Genuine Parts and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada set a $101.00 price objective on shares of Genuine Parts and gave the stock a “hold” rating in a research note on Friday, July 19th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $105.75.
Genuine Parts Company Profile
Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, 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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