Genuine Parts (NYSE:GPC) Shares Bought by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC boosted its holdings in Genuine Parts (NYSE:GPC) by 6.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 106,967 shares of the specialty retailer’s stock after buying an additional 6,888 shares during the period. Genuine Parts accounts for approximately 1.1% of Foster Victor Wealth Advisors LLC’s holdings, making the stock its 23rd largest holding. Foster Victor Wealth Advisors LLC owned approximately 0.08% of Genuine Parts worth $15,159,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Assetmark Inc. lifted its holdings in Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after buying an additional 96 shares in the last quarter. WD Rutherford LLC acquired a new stake in shares of Genuine Parts during the first quarter valued at approximately $26,000. Union Savings Bank lifted its stake in Genuine Parts by 100.0% in the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. Thompson Investment Management Inc. acquired a new stake in shares of Genuine Parts during the 1st quarter valued at $35,000. Finally, Stephens Consulting LLC grew its stake in shares of Genuine Parts by 740.7% in the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of Genuine Parts stock traded up $0.30 during trading hours on Friday, hitting $138.86. The company’s stock had a trading volume of 624,101 shares, compared to its average volume of 1,013,090. The business has a 50 day moving average price of $138.79 and a two-hundred day moving average price of $146.25. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $164.45. The company has a market cap of $19.34 billion, a PE ratio of 15.48 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.44 earnings per share. Analysts expect that Genuine Parts will post 9.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. UBS Group decreased their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Truist Financial lowered their price target on Genuine Parts from $183.00 to $164.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. The Goldman Sachs Group reduced their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Evercore ISI dropped their price objective on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $161.14.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the transaction, the director now owns 13,006 shares in the company, valued at $1,967,677.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is owned by company insiders.

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.