CWA Asset Management Group LLC Purchases New Shares in Genuine Parts (NYSE:GPC)

CWA Asset Management Group LLC acquired a new stake in shares of Genuine Parts (NYSE:GPC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,570 shares of the specialty retailer’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Equitable Trust Co. grew its holdings in Genuine Parts by 6.3% during the 3rd quarter. Equitable Trust Co. now owns 3,145 shares of the specialty retailer’s stock valued at $439,000 after purchasing an additional 186 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Genuine Parts during the third quarter valued at approximately $31,000. Consolidated Planning Corp grew its stake in shares of Genuine Parts by 31.1% during the third quarter. Consolidated Planning Corp now owns 8,347 shares of the specialty retailer’s stock valued at $1,166,000 after buying an additional 1,981 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Genuine Parts by 3.6% in the third quarter. Principal Financial Group Inc. now owns 183,533 shares of the specialty retailer’s stock worth $25,636,000 after buying an additional 6,358 shares during the period. Finally, Financial Enhancement Group LLC lifted its stake in shares of Genuine Parts by 149.0% during the 3rd quarter. Financial Enhancement Group LLC now owns 4,348 shares of the specialty retailer’s stock worth $607,000 after acquiring an additional 2,602 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

GPC stock opened at $122.70 on Wednesday. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The firm has a market cap of $17.06 billion, a price-to-earnings ratio of 15.79 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The firm has a 50-day simple moving average of $131.64 and a two-hundred day simple moving average of $139.05.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. Genuine Parts’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $2.49 earnings per share. On average, equities analysts forecast that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio is currently 51.48%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wedbush decreased their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group dropped their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, UBS Group lowered their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $139.57.

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.