WESPAC Advisors SoCal LLC Takes Position in Genuine Parts (NYSE:GPC)

WESPAC Advisors SoCal LLC bought a new stake in Genuine Parts (NYSE:GPC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 33,776 shares of the specialty retailer’s stock, valued at approximately $3,391,000. Genuine Parts accounts for about 1.6% of WESPAC Advisors SoCal LLC’s portfolio, making the stock its 22nd biggest position.

Several other institutional investors and hedge funds have also recently made changes to their positions in GPC. Meeder Asset Management Inc. raised its stake in shares of Genuine Parts by 374.7% in the first quarter. Meeder Asset Management Inc. now owns 394 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 311 shares during the period. Tower Research Capital LLC TRC purchased a new position in Genuine Parts in the 1st quarter worth about $27,000. Rosenberg Matthew Hamilton purchased a new position in Genuine Parts in the 2nd quarter worth about $29,000. NEXT Financial Group Inc purchased a new position in Genuine Parts in the 3rd quarter worth about $33,000. Finally, Investors Research Corp increased its stake in Genuine Parts by 135.5% in the 2nd quarter. Investors Research Corp now owns 391 shares of the specialty retailer’s stock worth $34,000 after buying an additional 225 shares during the period. 77.41% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently commented on the stock. Royal Bank of Canada raised their price target on shares of Genuine Parts from $94.00 to $100.00 in a research note on Tuesday, October 20th. Argus raised their price target on shares of Genuine Parts from $84.00 to $105.00 in a research note on Friday, August 14th. TheStreet raised shares of Genuine Parts from a “c” rating to a “b” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised shares of Genuine Parts from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $90.00 to $117.00 in a research note on Monday, September 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $98.14.

Genuine Parts stock traded down $3.28 during midday trading on Monday, hitting $95.50. 20,701 shares of the company’s stock were exchanged, compared to its average volume of 921,169. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.66 and a current ratio of 1.22. Genuine Parts has a 12 month low of $49.68 and a 12 month high of $108.58. The firm has a 50-day moving average of $98.64 and a two-hundred day moving average of $87.87. The company has a market cap of $14.25 billion, a PE ratio of -73.17, a P/E/G ratio of 13.51 and a beta of 1.07.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, October 22nd. The specialty retailer reported $1.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.15. Genuine Parts had a negative net margin of 1.06% and a positive return on equity of 21.67%. The company had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the prior year, the business earned $1.50 EPS. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. As a group, equities analysts expect that Genuine Parts will post 4.96 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 4th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Thursday, September 3rd. Genuine Parts’s dividend payout ratio is currently 55.54%.

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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