Focus Financial Network Inc. Sells 890 Shares of Genuine Parts (NYSE:GPC)

Focus Financial Network Inc. trimmed its stake in shares of Genuine Parts (NYSE:GPC) by 22.3% in the third quarter, HoldingsChannel reports. The firm owned 3,108 shares of the specialty retailer’s stock after selling 890 shares during the quarter. Focus Financial Network Inc.’s holdings in Genuine Parts were worth $437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wulff Hansen & CO. lifted its holdings in shares of Genuine Parts by 13,732.0% during the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after buying an additional 1,555,149 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Genuine Parts by 21.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock worth $189,296,000 after buying an additional 239,858 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Genuine Parts by 29.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock worth $135,579,000 after buying an additional 223,712 shares in the last quarter. Hamlin Capital Management LLC lifted its holdings in shares of Genuine Parts by 12.3% during the third quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer’s stock worth $82,561,000 after buying an additional 64,520 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Genuine Parts by 14,222.1% during the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock worth $81,621,000 after buying an additional 580,262 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GPC has been the subject of a number of research reports. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. The Goldman Sachs Group dropped their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. UBS Group dropped their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Finally, Wedbush dropped their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Stock Down 1.0 %

Shares of NYSE GPC opened at $113.61 on Monday. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The company has a market cap of $15.80 billion, a price-to-earnings ratio of 14.62 and a beta of 0.92. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The stock has a 50-day moving average price of $134.72 and a two-hundred day moving average price of $141.08.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.49 EPS. As a group, analysts forecast that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

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.