WealthPLAN Partners LLC Decreases Stake in Genuine Parts (NYSE:GPC)

WealthPLAN Partners LLC lessened its holdings in Genuine Parts (NYSE:GPC) by 5.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,794 shares of the specialty retailer’s stock after selling 1,978 shares during the period. WealthPLAN Partners LLC’s holdings in Genuine Parts were worth $5,089,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. WD Rutherford LLC purchased a new position in Genuine Parts in the first quarter worth $26,000. Assetmark Inc. increased its holdings in Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after buying an additional 96 shares during the last quarter. Union Savings Bank raised its position in Genuine Parts by 100.0% in the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 100 shares during the period. Thompson Investment Management Inc. purchased a new position in Genuine Parts in the first quarter valued at about $35,000. Finally, Stephens Consulting LLC increased its stake in shares of Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 200 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. The Goldman Sachs Group decreased their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Evercore ISI dropped their price objective 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, July 24th. Wedbush lowered 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. Finally, UBS Group cut their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $161.14.

Genuine Parts Stock Performance

Shares of GPC opened at $137.35 on Tuesday. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $164.45. The stock has a market cap of $19.13 billion, a PE ratio of 15.31 and a beta of 0.90. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The business’s 50-day moving average price is $139.47 and its 200-day moving average price is $145.59.

Genuine Parts (NYSE:GPC) last posted 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). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same period last year, the company posted $2.44 EPS. The business’s revenue was up .8% on a year-over-year basis. On average, equities analysts forecast that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm 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 $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.91%. The ex-dividend date is Friday, September 6th. Genuine Parts’s dividend payout ratio is 44.59%.

About Genuine Parts

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.