Foster Victor Wealth Advisors LLC raised its stake in shares of Genuine Parts (NYSE:GPC) by 154.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,524 shares of the specialty retailer’s stock after acquiring an additional 16,114 shares during the period. Genuine Parts makes up 1.4% of Foster Victor Wealth Advisors LLC’s holdings, making the stock its 17th biggest holding. Foster Victor Wealth Advisors LLC’s holdings in Genuine Parts were worth $2,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. NEXT Financial Group Inc acquired a new position in shares of Genuine Parts in the second quarter valued at approximately $26,000. Marshall Wace North America L.P. acquired a new position in shares of Genuine Parts in the first quarter valued at approximately $44,000. CSat Investment Advisory L.P. grew its holdings in shares of Genuine Parts by 173.9% in the second quarter. CSat Investment Advisory L.P. now owns 482 shares of the specialty retailer’s stock valued at $50,000 after purchasing an additional 306 shares in the last quarter. Pflug Koory LLC acquired a new position in shares of Genuine Parts in the second quarter valued at approximately $52,000. Finally, Coastal Capital Group Inc. acquired a new position in shares of Genuine Parts in the second quarter valued at approximately $82,000. Institutional investors and hedge funds own 76.89% of the company’s stock.
GPC has been the subject of a number of research reports. Jefferies Financial Group set a $102.00 price objective on shares of Genuine Parts and gave the company a “hold” rating in a report on Friday, July 19th. JPMorgan Chase & Co. lowered their price target on shares of Genuine Parts from $114.00 to $104.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Raymond James assumed coverage on shares of Genuine Parts in a report on Monday. They set a “market perform” rating for the company. Goldman Sachs Group assumed coverage on shares of Genuine Parts in a report on Thursday, July 11th. They set a “neutral” rating and a $107.00 price target for the company. Finally, Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating and set a $103.00 price target for the company in a report on Wednesday, July 24th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Genuine Parts presently has an average rating of “Hold” and a consensus price target of $105.75.
NYSE GPC traded up $2.66 on Friday, hitting $97.18. 44,622 shares of the stock were exchanged, compared to its average volume of 678,640. The company has a quick ratio of 0.68, a current ratio of 1.26 and a debt-to-equity ratio of 0.98. Genuine Parts has a fifty-two week low of $87.26 and a fifty-two week high of $115.20. The company has a market cap of $13.52 billion, a PE ratio of 17.10, a PEG ratio of 3.00 and a beta of 0.95. The company has a 50-day moving average price of $94.46 and a 200-day moving average price of $99.96.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, July 18th. The specialty retailer reported $1.57 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.08). Genuine Parts had a return on equity of 23.16% and a net margin of 4.17%. The firm had revenue of $4.93 billion for the quarter, compared to analyst estimates of $5 billion. During the same quarter last year, the firm earned $1.59 EPS. The company’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that Genuine Parts will post 5.7 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a dividend of $0.7625 per share. This represents a $3.05 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Thursday, September 5th. Genuine Parts’s dividend payout ratio (DPR) is presently 53.70%.
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.
Featured Story: Understanding Specialty Certificates of Deposit
Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts (NYSE:GPC).
Receive News & Ratings for Genuine Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts and related companies with MarketBeat.com's FREE daily email newsletter.