Genuine Parts (NYSE:GPC) Shares Bought by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC lifted its position in shares of Genuine Parts (NYSE:GPC) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,807 shares of the specialty retailer’s stock after purchasing an additional 1,199 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Genuine Parts were worth $11,587,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Genuine Parts by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,707,699 shares of the specialty retailer’s stock worth $353,436,000 after purchasing an additional 185,913 shares during the period. Stifel Financial Corp grew its stake in shares of Genuine Parts by 27.0% during the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after purchasing an additional 431,623 shares during the period. Norges Bank acquired a new stake in shares of Genuine Parts during the 4th quarter worth approximately $215,643,000. Dimensional Fund Advisors LP grew its stake in shares of Genuine Parts by 13.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,081,344 shares of the specialty retailer’s stock worth $149,766,000 after purchasing an additional 129,472 shares during the period. Finally, Morningstar Investment Services LLC grew its stake in shares of Genuine Parts by 161.2% during the 4th quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock worth $80,066,000 after purchasing an additional 357,091 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Price Performance

GPC stock traded up $0.98 during midday trading on Friday, reaching $143.26. The stock had a trading volume of 821,937 shares, compared to its average volume of 991,595. The company’s fifty day simple moving average is $139.05 and its 200 day simple moving average is $146.22. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The company has a market cap of $19.96 billion, a price-to-earnings ratio of 15.97 and a beta of 0.92. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data 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). The firm had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.44 EPS. As a group, sell-side analysts predict that Genuine Parts will post 9.36 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

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 issued a dividend of $1.00 per share. The ex-dividend date is Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.79%. Genuine Parts’s dividend payout ratio is presently 44.59%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GPC. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Thursday. The Goldman Sachs Group dropped their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. UBS Group dropped their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Evercore ISI dropped their price target on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 24th. Finally, Wedbush dropped 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 note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and a consensus target price of $161.14.

Genuine Parts 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.