Caprock Group LLC Acquires 1,739 Shares of Genuine Parts (NYSE:GPC)

Caprock Group LLC lifted its holdings in Genuine Parts (NYSE:GPC) by 55.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,863 shares of the specialty retailer’s stock after acquiring an additional 1,739 shares during the period. Caprock Group LLC’s holdings in Genuine Parts were worth $678,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Genuine Parts in the fourth quarter worth $215,643,000. Stifel Financial Corp lifted its stake in Genuine Parts by 27.0% in the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after purchasing an additional 431,623 shares in the last quarter. DAVENPORT & Co LLC lifted its stake in Genuine Parts by 3,029.9% in the 1st quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock worth $58,999,000 after purchasing an additional 368,470 shares in the last quarter. Morningstar Investment Services LLC boosted its holdings in shares of Genuine Parts by 161.2% during the 4th quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock valued at $80,066,000 after purchasing an additional 357,091 shares during the last quarter. Finally, Natixis grew its position in shares of Genuine Parts by 768.4% during the first quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock valued at $49,014,000 after purchasing an additional 279,930 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.5 %

NYSE GPC opened at $135.05 on Thursday. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45. The firm has a market capitalization of $18.81 billion, a price-to-earnings ratio of 15.06 and a beta of 0.90. The company has a fifty day moving average of $139.23 and a two-hundred day moving average of $145.90.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. Genuine Parts’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.44 earnings per share. On average, analysts predict that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a $1.00 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.96%. Genuine Parts’s payout ratio is 44.59%.

Analysts Set New Price Targets

GPC has been the subject of a number of research reports. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. The Goldman Sachs Group lowered their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Wedbush reduced their price target on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Evercore ISI lowered their price objective on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. Finally, UBS Group reduced their target price on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and an average price target of $161.14.

Genuine Parts 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.