First Republic Investment Management Inc. raised its position in shares of Genuine Parts (NYSE:GPC) by 175.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,227 shares of the specialty retailer’s stock after purchasing an additional 37,074 shares during the period. First Republic Investment Management Inc.’s holdings in Genuine Parts were worth $5,344,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of GPC. NumerixS Investment Technologies Inc acquired a new stake in shares of Genuine Parts in the 2nd quarter worth approximately $110,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Genuine Parts by 87.8% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,613 shares of the specialty retailer’s stock worth $148,000 after acquiring an additional 754 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in shares of Genuine Parts in the 2nd quarter worth approximately $158,000. Creative Financial Designs Inc. ADV lifted its stake in shares of Genuine Parts by 50.3% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 1,828 shares of the specialty retailer’s stock worth $168,000 after acquiring an additional 612 shares during the period. Finally, Wagner Wealth Management LLC lifted its stake in shares of Genuine Parts by 78.0% in the 1st quarter. Wagner Wealth Management LLC now owns 1,869 shares of the specialty retailer’s stock worth $168,000 after acquiring an additional 819 shares during the period. 76.62% of the stock is owned by hedge funds and other institutional investors.
GPC has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Genuine Parts from a “sell” rating to a “hold” rating in a research note on Monday, June 11th. Royal Bank of Canada boosted their target price on shares of Genuine Parts to $99.00 and gave the stock a “sector perform” rating in a report on Thursday, July 12th. Finally, Wedbush boosted their target price on shares of Genuine Parts from $93.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, July 20th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $101.50.
Shares of NYSE GPC traded up $1.48 during midday trading on Friday, reaching $99.23. The company’s stock had a trading volume of 890,108 shares, compared to its average volume of 825,930. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.33 and a quick ratio of 0.71. Genuine Parts has a one year low of $84.71 and a one year high of $107.75. The company has a market capitalization of $14.59 billion, a P/E ratio of 21.39, a PEG ratio of 2.64 and a beta of 1.17.
Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, July 19th. The specialty retailer reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.01. Genuine Parts had a net margin of 3.78% and a return on equity of 21.62%. The business had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.69 billion. During the same period in the previous year, the firm earned $1.29 EPS. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, analysts anticipate that Genuine Parts will post 5.66 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 7th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, September 6th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.90%. Genuine Parts’s dividend payout ratio is currently 62.07%.
In other news, insider James R. Neill sold 512 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $97.94, for a total transaction of $50,145.28. Following the sale, the insider now owns 5,661 shares in the company, valued at $554,438.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is owned by insiders.
Genuine Parts Company Profile
Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. 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 through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.
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