Genuine Parts (NYSE:GPC) Shares Purchased by Morningstar Investment Services LLC

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Morningstar Investment Services LLC increased its position in shares of Genuine Parts (NYSE:GPC) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 174,878 shares of the specialty retailer’s stock after buying an additional 348 shares during the period. Morningstar Investment Services LLC owned 0.12% of Genuine Parts worth $18,114,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NEXT Financial Group Inc acquired a new stake in shares of Genuine Parts in the second quarter valued at about $26,000. Cutler Group LP lifted its stake in Genuine Parts by 967.7% in the 1st quarter. Cutler Group LP now owns 269 shares of the specialty retailer’s stock valued at $30,000 after buying an additional 300 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in Genuine Parts in the 1st quarter worth about $44,000. Manchester Capital Management LLC acquired a new stake in Genuine Parts in the 1st quarter worth about $52,000. Finally, Pflug Koory LLC acquired a new stake in Genuine Parts in the 2nd quarter worth about $52,000. 76.86% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have commented on the company. Goldman Sachs Group initiated coverage on Genuine Parts in a report on Thursday, July 11th. They set a “neutral” rating and a $107.00 target price for the company. Zacks Investment Research raised Genuine Parts from a “sell” rating to a “hold” rating and set a $103.00 price target on the stock in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lowered their price target on Genuine Parts from $114.00 to $104.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Stephens began coverage on Genuine Parts in a research report on Thursday, May 30th. They set an “overweight” rating and a $114.00 price target for the company. Finally, Jefferies Financial Group set a $102.00 price objective on Genuine Parts and gave the company a “hold” rating in a research note on Friday, July 19th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $105.75.

NYSE GPC traded up $0.62 during trading hours on Wednesday, hitting $97.80. 311,330 shares of the company’s stock traded hands, compared to its average volume of 664,752. The company has a market capitalization of $14.07 billion, a PE ratio of 17.22, a PEG ratio of 3.34 and a beta of 0.93. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.26 and a quick ratio of 0.68. Genuine Parts has a 52-week low of $87.26 and a 52-week high of $115.20. The firm’s 50-day moving average is $92.16 and its 200-day moving average is $101.56.

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, July 18th. The specialty retailer reported $1.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.08). The business had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $5 billion. Genuine Parts had a return on equity of 23.16% and a net margin of 4.17%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $1.59 earnings per share. Equities research analysts predict that Genuine Parts will post 5.7 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a $0.7625 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.05 annualized dividend and a dividend yield of 3.12%. Genuine Parts’s dividend payout ratio is presently 53.70%.

Genuine Parts Profile

Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. 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; and accessory items for automotive aftermarket, 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.

See Also: Lock-Up Period Expiration

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

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