Westhampton Capital LLC Acquires 500 Shares of Genuine Parts (NYSE:GPC)

Westhampton Capital LLC grew its holdings in Genuine Parts (NYSE:GPC) by 8.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,490 shares of the specialty retailer’s stock after acquiring an additional 500 shares during the quarter. Westhampton Capital LLC’s holdings in Genuine Parts were worth $907,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of GPC. Manchester Capital Management LLC increased its stake in Genuine Parts by 36.1% during the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares in the last quarter. North Star Investment Management Corp. increased its position in shares of Genuine Parts by 8.5% during the first quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after acquiring an additional 70 shares in the last quarter. First Citizens Bank & Trust Co. raised its holdings in shares of Genuine Parts by 4.9% during the second 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 raised its holdings in shares of 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 period. Finally, Dover Advisors LLC lifted its position in Genuine Parts by 5.1% in the 2nd quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock valued at $243,000 after acquiring an additional 85 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Down 21.0 %

NYSE:GPC opened at $113.02 on Wednesday. The firm has a market capitalization of $15.74 billion, a price-to-earnings ratio of 12.60 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. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The stock’s 50 day moving average price is $139.12 and its two-hundred day moving average price is $143.08.

Genuine Parts (NYSE:GPC) last posted its quarterly 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 firm had revenue of $5.96 billion for 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 business’s revenue was up .8% compared to the same quarter last year. During the same period last year, the company posted $2.44 earnings per share. Equities research analysts expect that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.54%. Genuine Parts’s payout ratio is 44.59%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GPC shares. UBS Group lowered their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Wedbush decreased their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. The Goldman Sachs Group cut their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Evercore ISI raised their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday. Finally, StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $155.14.

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.