Genuine Parts (NYSE:GPC) Shares Purchased by Quarry LP

Quarry LP raised its holdings in shares of Genuine Parts (NYSE:GPC) by 822.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 581 shares of the specialty retailer’s stock after buying an additional 518 shares during the period. Quarry LP’s holdings in Genuine Parts were worth $80,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. California State Teachers Retirement System increased its holdings in Genuine Parts by 1.9% in the 4th quarter. California State Teachers Retirement System now owns 226,848 shares of the specialty retailer’s stock valued at $31,418,000 after purchasing an additional 4,185 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its stake in shares of Genuine Parts by 153.9% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 7,319 shares of the specialty retailer’s stock valued at $1,014,000 after buying an additional 4,436 shares in the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of Genuine Parts during the 4th quarter valued at about $282,000. NEOS Investment Management LLC lifted its position in Genuine Parts by 33.6% during the 4th quarter. NEOS Investment Management LLC now owns 1,990 shares of the specialty retailer’s stock worth $276,000 after acquiring an additional 500 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Genuine Parts by 13.3% in the 4th quarter. CIBC Asset Management Inc now owns 23,000 shares of the specialty retailer’s stock worth $3,186,000 after acquiring an additional 2,693 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

Shares of GPC stock opened at $138.76 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The stock has a market capitalization of $19.33 billion, a price-to-earnings ratio of 15.47 and a beta of 0.90. Genuine Parts has a one year low of $126.35 and a one year high of $164.45. The company’s 50-day simple moving average is $139.73 and its 200-day simple moving average is $144.59.

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

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a dividend of $1.00 per share. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.88%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. UBS Group dropped their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Wedbush lowered 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. The Goldman Sachs Group cut their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $161.14.

About Genuine Parts

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.