Genuine Parts (NYSE:GPC) Shares Acquired by Miramar Capital LLC

Miramar Capital LLC increased its holdings in shares of Genuine Parts (NYSE:GPC) by 0.3% in the second quarter, Holdings Channel reports. The firm owned 79,957 shares of the specialty retailer’s stock after acquiring an additional 223 shares during the period. Genuine Parts makes up 2.8% of Miramar Capital LLC’s portfolio, making the stock its 20th biggest position. Miramar Capital LLC’s holdings in Genuine Parts were worth $11,060,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp grew its stake in shares of Genuine Parts by 27.0% in the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after buying an additional 431,623 shares in the last quarter. Comerica Bank raised its stake in shares of Genuine Parts by 19.6% during the first quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock valued at $17,609,000 after purchasing an additional 18,657 shares during the period. Harvest Investment Advisors LLC lifted its position in shares of Genuine Parts by 1.5% during the fourth quarter. Harvest Investment Advisors LLC now owns 8,869 shares of the specialty retailer’s stock worth $1,228,000 after purchasing an additional 133 shares in the last quarter. Mezzasalma Advisors LLC boosted its stake in shares of Genuine Parts by 497.0% in the first quarter. Mezzasalma Advisors LLC now owns 12,035 shares of the specialty retailer’s stock valued at $1,865,000 after purchasing an additional 10,019 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in Genuine Parts by 137.9% during the 1st quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock valued at $3,560,000 after purchasing an additional 13,330 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GPC has been the topic of a number of recent analyst reports. UBS Group cut their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. The Goldman Sachs Group reduced their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Evercore ISI dropped their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. Wedbush reduced their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and an average price target of $161.14.

Genuine Parts Stock Performance

GPC stock opened at $138.08 on Thursday. The firm has a market cap of $19.23 billion, a P/E ratio of 15.39 and a beta of 0.90. The stock’s 50 day simple moving average is $139.59 and its 200 day simple moving average is $145.51. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter in the previous year, the business posted $2.44 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities research analysts predict that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: 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 equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.