D.A. Davidson & CO. Has $6.16 Million Stock Position in Genuine Parts (NYSE:GPC)

D.A. Davidson & CO. trimmed its position in Genuine Parts (NYSE:GPC) by 3.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,560 shares of the specialty retailer’s stock after selling 1,778 shares during the quarter. D.A. Davidson & CO.’s holdings in Genuine Parts were worth $6,162,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GPC. Manchester Capital Management LLC boosted its stake in Genuine Parts by 36.1% during the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 66 shares during the last quarter. North Star Investment Management Corp. raised its position in shares of Genuine Parts by 8.5% during the first quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after purchasing an additional 70 shares during the period. CHICAGO TRUST Co NA grew its position in shares of Genuine Parts by 3.6% in the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after purchasing an additional 71 shares during the period. First Citizens Bank & Trust Co. increased its stake in Genuine Parts by 4.9% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock worth $224,000 after purchasing an additional 75 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its holdings in Genuine Parts by 2.2% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock worth $489,000 after buying an additional 76 shares during the period. 78.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GPC shares. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. Evercore ISI lowered their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research report on Wednesday, July 24th. 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 research report on Wednesday, July 24th. Wedbush lowered their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, UBS Group lowered their target price 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. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $161.14.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $143.26 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $19.96 billion, a P/E ratio of 15.97 and a beta of 0.92. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45. The stock has a 50 day moving average of $139.08 and a 200-day moving average of $146.26.

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

Genuine Parts Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s dividend payout ratio is presently 44.59%.

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.