Genuine Parts (NYSE:GPC) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 0.7% during the first quarter, HoldingsChannel reports. The fund owned 110,686 shares of the specialty retailer’s stock after selling 834 shares during the period. Commonwealth Equity Services LLC’s holdings in Genuine Parts were worth $12,794,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. grew its holdings in Genuine Parts by 13.5% during the fourth quarter. Russell Investments Group Ltd. now owns 105,330 shares of the specialty retailer’s stock worth $10,547,000 after acquiring an additional 12,517 shares during the period. Country Club Trust Company n.a. grew its holdings in Genuine Parts by 23.8% in the fourth quarter. Country Club Trust Company n.a. now owns 47,936 shares of the specialty retailer’s stock valued at $4,775,000 after purchasing an additional 9,222 shares during the last quarter. Knowledge Leaders Capital LLC acquired a new stake in Genuine Parts in the fourth quarter valued at $824,000. Hendershot Investments Inc. grew its holdings in Genuine Parts by 0.5% in the first quarter. Hendershot Investments Inc. now owns 131,530 shares of the specialty retailer’s stock valued at $15,204,000 after purchasing an additional 618 shares during the last quarter. Finally, Viking Fund Management LLC grew its holdings in Genuine Parts by 16.7% in the fourth quarter. Viking Fund Management LLC now owns 17,500 shares of the specialty retailer’s stock valued at $1,758,000 after purchasing an additional 2,500 shares during the last quarter. 76.87% of the stock is currently owned by hedge funds and other institutional investors.

GPC has been the topic of several research reports. Evercore ISI reissued a “hold” rating on shares of Genuine Parts in a report on Sunday, April 25th. JPMorgan Chase & Co. upped their target price on Genuine Parts from $115.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, May 3rd. TheStreet raised Genuine Parts from a “c+” rating to a “b” rating in a report on Monday, April 26th. The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and upped their target price for the company from $113.00 to $125.00 in a report on Monday, May 10th. Finally, Zacks Investment Research upgraded Genuine Parts from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Tuesday, April 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $127.50.

Shares of NYSE:GPC opened at $131.96 on Monday. The company has a quick ratio of 0.66, a current ratio of 1.23 and a debt-to-equity ratio of 0.89. Genuine Parts has a 52-week low of $69.33 and a 52-week high of $135.93. The stock’s fifty day simple moving average is $121.99 and its 200-day simple moving average is $106.71. The company has a market capitalization of $19.06 billion, a P/E ratio of -98.48 and a beta of 1.05.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Wednesday, April 21st. The specialty retailer reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.36. Genuine Parts had a positive return on equity of 23.26% and a negative net margin of 1.10%. The business had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the prior year, the business earned $0.92 earnings per share. The business’s revenue was down 1.3% on a year-over-year basis. On average, sell-side analysts anticipate that Genuine Parts will post 5.1 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Friday, June 4th will be given a dividend of $0.815 per share. The ex-dividend date is Thursday, June 3rd. This represents a $3.26 annualized dividend and a yield of 2.47%. Genuine Parts’s dividend payout ratio (DPR) is presently 57.29%.

About Genuine Parts

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. The company distributes automotive replacement parts for imported vehicles, hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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