WealthPLAN Partners LLC Sells 1,978 Shares of Genuine Parts (NYSE:GPC)

WealthPLAN Partners LLC decreased its stake in Genuine Parts (NYSE:GPC) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Assetmark Inc. grew its position in Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 96 shares in the last quarter. WD Rutherford LLC purchased a new position in shares of Genuine Parts in the 1st quarter worth about $26,000. Union Savings Bank boosted its holdings in shares of Genuine Parts by 100.0% in the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. Thompson Investment Management Inc. purchased a new position in shares of Genuine Parts during the 1st quarter valued at about $35,000. Finally, Stephens Consulting LLC lifted its position in Genuine Parts by 740.7% in the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. Evercore ISI decreased their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research 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 for the company in a research note on Wednesday, July 24th. UBS Group reduced their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Finally, The Goldman Sachs Group lowered their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Price Performance

GPC stock opened at $137.35 on Tuesday. The stock has a market capitalization of $19.13 billion, a price-to-earnings ratio of 15.31 and a beta of 0.90. The firm’s 50-day moving average price is $139.47 and its two-hundred day moving average price is $145.59. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.59 by ($0.15). The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.44 earnings per share. As a group, equities analysts predict that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.91%. Genuine Parts’s dividend payout ratio is presently 44.59%.

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.