Morningstar Investment Services LLC Grows Stock Position in Genuine Parts (NYSE:GPC)
Morningstar Investment Services LLC lifted its stake in Genuine Parts (NYSE:GPC) by 0.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 174,878 shares of the specialty retailer’s stock after purchasing an additional 348 shares during the period. Morningstar Investment Services LLC’s holdings in Genuine Parts were worth $18,114,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GPC. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Genuine Parts by 12.8% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,348,515 shares of the specialty retailer’s stock worth $450,419,000 after purchasing an additional 492,300 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Genuine Parts by 0.4% in the 2nd quarter. Wells Fargo & Company MN now owns 3,604,757 shares of the specialty retailer’s stock valued at $373,382,000 after purchasing an additional 14,068 shares during the period. Charles Schwab Investment Advisory Inc. boosted its position in shares of Genuine Parts by 3.0% in the 2nd quarter. Charles Schwab Investment Advisory Inc. now owns 2,401,816 shares of the specialty retailer’s stock valued at $248,780,000 after purchasing an additional 69,258 shares during the period. Geode Capital Management LLC grew its stake in Genuine Parts by 9.1% during the 4th quarter. Geode Capital Management LLC now owns 1,965,765 shares of the specialty retailer’s stock worth $188,434,000 after buying an additional 163,768 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Genuine Parts by 2.9% during the 2nd quarter. Northern Trust Corp now owns 1,841,365 shares of the specialty retailer’s stock worth $190,729,000 after buying an additional 52,308 shares during the last quarter. 76.86% of the stock is owned by hedge funds and other institutional investors.
NYSE GPC traded up $0.62 on Wednesday, reaching $97.80. The company’s stock had a trading volume of 311,330 shares, compared to its average volume of 664,752. The stock has a market cap of $14.07 billion, a PE ratio of 17.22, a PEG ratio of 3.34 and a beta of 0.93. Genuine Parts has a twelve month low of $87.26 and a twelve month high of $115.20. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 1.26. The firm’s 50 day moving average is $92.16 and its two-hundred day moving average is $101.56.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a dividend of $0.7625 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.05 annualized dividend and a dividend yield of 3.12%. Genuine Parts’s dividend payout ratio (DPR) is presently 53.70%.
GPC has been the subject of several recent analyst reports. Goldman Sachs Group started coverage on shares of Genuine Parts in a research note on Thursday, July 11th. They issued a “neutral” rating and a $107.00 target price for the company. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating and set a $103.00 target price for the company in a report on Wednesday, July 24th. Stephens began coverage on Genuine Parts in a research report on Thursday, May 30th. They issued an “overweight” rating and a $114.00 price objective on the stock. JPMorgan Chase & Co. cut their price target on Genuine Parts from $114.00 to $104.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Finally, Jefferies Financial Group set a $102.00 price objective on shares of Genuine Parts and gave the stock a “hold” rating in a report on Friday, July 19th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Genuine Parts has a consensus rating of “Hold” and an average price target of $105.75.
About Genuine Parts
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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