Main Street Financial Solutions LLC Raises Stock Holdings in Genuine Parts (NYSE:GPC)

Main Street Financial Solutions LLC raised its position in shares of Genuine Parts (NYSE:GPC) by 44.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,577 shares of the specialty retailer’s stock after purchasing an additional 1,104 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Genuine Parts were worth $500,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GPC. First Citizens Bank & Trust Co. raised its holdings in shares of Genuine Parts by 4.9% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock worth $224,000 after acquiring an additional 75 shares during the period. HBK Sorce Advisory LLC increased its stake in Genuine Parts by 1.8% during the first quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock worth $689,000 after acquiring an additional 80 shares during the last quarter. Dover Advisors LLC raised its position in Genuine Parts by 5.1% in the second quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock valued at $243,000 after purchasing an additional 85 shares during the period. Blackhawk Capital Partners LLC. lifted its stake in shares of Genuine Parts by 1.3% in the 2nd quarter. Blackhawk Capital Partners LLC. now owns 6,793 shares of the specialty retailer’s stock valued at $940,000 after purchasing an additional 86 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its holdings in shares of Genuine Parts by 3.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,173 shares of the specialty retailer’s stock worth $439,000 after purchasing an additional 92 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GPC. Wedbush reduced their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. The Goldman Sachs Group lowered their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI boosted their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lowered their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Stock Up 0.2 %

Shares of Genuine Parts stock opened at $123.87 on Friday. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a market capitalization of $17.22 billion, a P/E ratio of 15.94 and a beta of 0.92. The company has a 50 day moving average of $131.02 and a 200 day moving average of $138.84.

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

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s payout ratio is 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.