M Holdings Securities Inc. Purchases New Shares in Genuine Parts (NYSE:GPC)

M Holdings Securities Inc. purchased a new stake in Genuine Parts (NYSE:GPCGet Rating) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 2,996 shares of the specialty retailer’s stock, valued at approximately $378,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Genuine Parts by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 17,088,101 shares of the specialty retailer’s stock valued at $2,153,442,000 after purchasing an additional 481,039 shares during the last quarter. BlackRock Inc. increased its stake in Genuine Parts by 1.2% in the 1st quarter. BlackRock Inc. now owns 12,843,268 shares of the specialty retailer’s stock valued at $1,618,508,000 after buying an additional 154,559 shares during the period. State Street Corp increased its stake in 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 buying an additional 284,554 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Genuine Parts by 4.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,860,574 shares of the specialty retailer’s stock valued at $612,531,000 after buying an additional 185,529 shares during the period. Finally, Geode Capital Management LLC increased its stake in 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 buying an additional 161,986 shares during the period. Hedge funds and other institutional investors own 78.27% of the company’s stock.

Genuine Parts Stock Performance

NYSE:GPC opened at $154.68 on Friday. The company has a quick ratio of 0.58, a current ratio of 1.17 and a debt-to-equity ratio of 0.90. Genuine Parts has a fifty-two week low of $115.63 and a fifty-two week high of $164.99. The stock has a market cap of $21.88 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 1.94 and a beta of 0.97. The firm’s fifty day simple moving average is $152.39 and its 200-day simple moving average is $138.79.

Genuine Parts (NYSE:GPCGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The specialty retailer reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.30 billion. Genuine Parts had a net margin of 5.38% and a return on equity of 31.67%. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.74 EPS. Analysts expect that Genuine Parts will post 7.97 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be paid a dividend of $0.895 per share. The ex-dividend date is Thursday, September 1st. This represents a $3.58 dividend on an annualized basis and a dividend yield of 2.31%. Genuine Parts’s dividend payout ratio (DPR) is 46.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GPC shares. Evercore ISI dropped their price objective on shares of Genuine Parts to $135.00 in a research note on Thursday, June 9th. Wedbush boosted their price objective on shares of Genuine Parts from $140.00 to $150.00 in a research note on Thursday, July 28th. Finally, StockNews.com raised shares of Genuine Parts from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $140.20.

About Genuine Parts

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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

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

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