Shell Asset Management Co. Increases Stock Position in Genuine Parts (NYSE:GPC)

Shell Asset Management Co. lifted its holdings in Genuine Parts (NYSE:GPC) by 37.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,891 shares of the specialty retailer’s stock after buying an additional 2,138 shares during the quarter. Shell Asset Management Co.’s holdings in Genuine Parts were worth $1,223,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC lifted its holdings in shares of Genuine Parts by 59.2% during the fourth quarter. SG Americas Securities LLC now owns 18,259 shares of the specialty retailer’s stock valued at $2,529,000 after purchasing an additional 6,792 shares during the last quarter. CoreCap Advisors LLC raised its stake in Genuine Parts by 10.5% during the fourth quarter. CoreCap Advisors LLC now owns 2,555 shares of the specialty retailer’s stock valued at $354,000 after buying an additional 242 shares during the last quarter. CVA Family Office LLC bought a new stake in Genuine Parts in the fourth quarter worth $145,000. Pacer Advisors Inc. grew its stake in shares of Genuine Parts by 21.4% in the fourth quarter. Pacer Advisors Inc. now owns 10,980 shares of the specialty retailer’s stock worth $1,521,000 after acquiring an additional 1,938 shares during the last quarter. Finally, Tectonic Advisors LLC bought a new position in shares of Genuine Parts during the fourth quarter valued at $270,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Performance

Genuine Parts stock traded up $4.48 during midday trading on Friday, reaching $142.45. 227,184 shares of the company traded hands, compared to its average volume of 1,020,807. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.59. The business has a 50 day moving average of $140.51 and a two-hundred day moving average of $146.26. The firm has a market capitalization of $19.85 billion, a price-to-earnings ratio of 15.87 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. Genuine Parts’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.44 earnings per share. As a group, research analysts predict that Genuine Parts will post 9.36 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were given a $1.00 dividend. The ex-dividend date was Friday, June 7th. This represents a $4.00 annualized dividend and a yield of 2.81%. Genuine Parts’s payout ratio is 44.59%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GPC shares. UBS Group dropped their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Evercore ISI cut their price target on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday. Jefferies Financial Group boosted their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Wedbush reduced their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and a consensus target price of $161.14.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the transaction, the director now owns 13,006 shares in the company, valued at approximately $1,967,677.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: 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 equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.