NuWave Investment Management LLC Takes $157,000 Position in Genuine Parts (NYSE:GPC)

NuWave Investment Management LLC purchased a new stake in Genuine Parts (NYSE:GPCGet Rating) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,245 shares of the specialty retailer’s stock, valued at approximately $157,000.

Several other large investors have also bought and sold shares of the company. State Street Corp raised its holdings in shares of Genuine Parts by 3.6% in the 4th quarter. State Street Corp now owns 8,081,541 shares of the specialty retailer’s stock valued at $1,139,431,000 after purchasing an additional 284,554 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Genuine Parts by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,675,045 shares of the specialty retailer’s stock valued at $655,441,000 after purchasing an additional 46,060 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Genuine Parts by 5.4% in the 4th quarter. Geode Capital Management LLC now owns 3,153,401 shares of the specialty retailer’s stock valued at $441,547,000 after purchasing an additional 161,986 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Genuine Parts by 10.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,814,813 shares of the specialty retailer’s stock worth $220,010,000 after acquiring an additional 173,047 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Genuine Parts by 3.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,516,848 shares of the specialty retailer’s stock worth $212,664,000 after acquiring an additional 48,510 shares in the last quarter. Institutional investors and hedge funds own 76.92% of the company’s stock.

GPC has been the subject of several recent analyst reports. Evercore ISI reduced their price objective on shares of Genuine Parts to $135.00 in a research note on Thursday, June 9th. StockNews.com initiated coverage on shares of Genuine Parts in a research note on Thursday, March 31st. They set a “strong-buy” rating for the company. Finally, Bank of America upgraded shares of Genuine Parts from an “underperform” rating to a “neutral” rating and set a $133.00 price objective for the company in a research note on Tuesday, May 10th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $137.75.

Shares of Genuine Parts stock opened at $131.62 on Thursday. The company has a current ratio of 1.16, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94. Genuine Parts has a 12-month low of $115.63 and a 12-month high of $142.97. The firm has a market capitalization of $18.64 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 2.99 and a beta of 0.99. The firm’s 50 day simple moving average is $133.52 and its two-hundred day simple moving average is $131.65.

Genuine Parts (NYSE:GPCGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The specialty retailer reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.16. Genuine Parts had a net margin of 4.71% and a return on equity of 30.84%. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same quarter in the prior year, the business posted $1.50 EPS. Genuine Parts’s revenue for the quarter was up 17.6% compared to the same quarter last year. On average, sell-side analysts predict that Genuine Parts will post 7.85 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 3rd will be issued a $0.895 dividend. This represents a $3.58 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Thursday, June 2nd. Genuine Parts’s dividend payout ratio (DPR) is currently 55.42%.

Genuine Parts Profile (Get Rating)

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 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.

Further Reading

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

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