Butensky & Cohen Financial Security Inc. Sells 1,404 Shares of Genuine Parts (NYSE:GPC)

Butensky & Cohen Financial Security Inc. lessened its stake in shares of Genuine Parts (NYSE:GPC) by 5.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 25,339 shares of the specialty retailer’s stock after selling 1,404 shares during the period. Genuine Parts accounts for about 1.5% of Butensky & Cohen Financial Security Inc.’s investment portfolio, making the stock its 22nd biggest holding. Butensky & Cohen Financial Security Inc.’s holdings in Genuine Parts were worth $4,288,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of GPC. Oak Thistle LLC bought a new position in shares of Genuine Parts in the first quarter worth about $221,000. Vinva Investment Management Ltd bought a new position in shares of Genuine Parts in the first quarter worth about $937,000. Securian Asset Management Inc. boosted its stake in shares of Genuine Parts by 1.8% in the first quarter. Securian Asset Management Inc. now owns 11,934 shares of the specialty retailer’s stock worth $1,997,000 after acquiring an additional 215 shares during the period. State of Michigan Retirement System boosted its stake in shares of Genuine Parts by 1.0% in the first quarter. State of Michigan Retirement System now owns 38,729 shares of the specialty retailer’s stock worth $6,480,000 after acquiring an additional 400 shares during the period. Finally, Creative Planning boosted its stake in shares of Genuine Parts by 0.5% in the fourth quarter. Creative Planning now owns 45,649 shares of the specialty retailer’s stock worth $7,921,000 after acquiring an additional 208 shares during the period. Institutional investors own 77.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GPC. Stephens dropped their price objective on Genuine Parts from $172.00 to $168.00 and set an “equal weight” rating for the company in a research note on Friday, July 21st. Bank of America upgraded Genuine Parts from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $185.00 to $189.00 in a research report on Thursday, June 1st. Wedbush decreased their target price on Genuine Parts from $170.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, July 21st. StockNews.com began coverage on Genuine Parts in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Northcoast Research began coverage on Genuine Parts in a research report on Wednesday, June 28th. They issued a “buy” rating and a $195.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $177.00.

Genuine Parts Trading Down 0.9 %

Shares of GPC stock opened at $148.83 on Monday. Genuine Parts has a 1 year low of $145.30 and a 1 year high of $187.73. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 0.58. The stock’s 50 day simple moving average is $156.35 and its two-hundred day simple moving average is $161.23. The company has a market cap of $20.90 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.80 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.10. Genuine Parts had a return on equity of 32.43% and a net margin of 5.30%. The business had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.96 billion. During the same period in the prior year, the business posted $2.20 earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. Research analysts predict that Genuine Parts will post 9.24 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be paid a dividend of $0.95 per share. The ex-dividend date is Thursday, September 7th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.55%. Genuine Parts’s dividend payout ratio is 44.44%.

About Genuine Parts

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, and individuals.