Edgestream Partners L.P. Takes Position in Genuine Parts (NYSE:GPC)

Edgestream Partners L.P. purchased a new stake in Genuine Parts (NYSE:GPC) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 71,465 shares of the specialty retailer’s stock, valued at approximately $7,402,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Thoroughbred Financial Services LLC increased its holdings in Genuine Parts by 10,307.9% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 536,528 shares of the specialty retailer’s stock valued at $53,653,000 after purchasing an additional 531,373 shares in the last quarter. Acadian Asset Management LLC boosted its position in Genuine Parts by 2,181.6% in the 1st quarter. Acadian Asset Management LLC now owns 290,034 shares of the specialty retailer’s stock valued at $32,492,000 after buying an additional 277,322 shares during the last quarter. Schafer Cullen Capital Management Inc boosted its position in Genuine Parts by 24.6% in the 2nd quarter. Schafer Cullen Capital Management Inc now owns 1,318,634 shares of the specialty retailer’s stock valued at $138,997,000 after buying an additional 260,407 shares during the last quarter. Geode Capital Management LLC boosted its position in Genuine Parts by 9.1% in the 4th quarter. Geode Capital Management LLC now owns 1,965,765 shares of the specialty retailer’s stock valued at $188,434,000 after buying an additional 163,768 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in Genuine Parts by 16.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 810,367 shares of the specialty retailer’s stock valued at $90,785,000 after buying an additional 114,657 shares during the last quarter. Institutional investors and hedge funds own 76.86% of the company’s stock.

Shares of NYSE:GPC traded up $0.85 during trading hours on Friday, hitting $98.37. The stock had a trading volume of 4,821 shares, compared to its average volume of 664,039. Genuine Parts has a 1-year low of $87.26 and a 1-year high of $115.20. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 1.26. The firm has a market capitalization of $14.20 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 3.41 and a beta of 0.93. The stock’s fifty day simple moving average is $92.19 and its 200 day simple moving average is $101.50.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, July 18th. The specialty retailer reported $1.57 EPS for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.08). Genuine Parts had a net margin of 4.17% and a return on equity of 23.16%. The company had revenue of $4.93 billion for the quarter, compared to analyst estimates of $5 billion. During the same quarter in the prior year, the business earned $1.59 EPS. Genuine Parts’s revenue was up 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Genuine Parts will post 5.7 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a dividend of $0.7625 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.05 dividend on an annualized basis and a dividend yield of 3.10%. Genuine Parts’s dividend payout ratio is presently 53.70%.

A number of equities analysts have weighed in on GPC shares. Bank of America upped their price objective on shares of Genuine Parts from $100.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday. Royal Bank of Canada set a $101.00 price target on shares of Genuine Parts and gave the stock a “hold” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. reduced their price target on shares of Genuine Parts from $114.00 to $104.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Jefferies Financial Group set a $102.00 price target on shares of Genuine Parts and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, Goldman Sachs Group started coverage on shares of Genuine Parts in a report on Thursday, July 11th. They issued a “neutral” rating and a $107.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $105.75.

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.

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

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