Weaver C. Barksdale & Associates Inc. Sells 178 Shares of Genuine Parts (NYSE:GPC)

Weaver C. Barksdale & Associates Inc. decreased its stake in Genuine Parts (NYSE:GPC) by 1.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,107 shares of the specialty retailer’s stock after selling 178 shares during the period. Weaver C. Barksdale & Associates Inc.’s holdings in Genuine Parts were worth $1,536,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board increased its holdings in shares of Genuine Parts by 45.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 22,207 shares of the specialty retailer’s stock worth $3,072,000 after purchasing an additional 6,911 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in Genuine Parts by 8.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 8,551 shares of the specialty retailer’s stock worth $1,183,000 after buying an additional 656 shares in the last quarter. ProVise Management Group LLC increased its stake in Genuine Parts by 6.4% during the second quarter. ProVise Management Group LLC now owns 21,943 shares of the specialty retailer’s stock valued at $3,035,000 after acquiring an additional 1,324 shares during the period. MQS Management LLC acquired a new position in Genuine Parts in the 2nd quarter valued at approximately $719,000. Finally, Optimist Retirement Group LLC lifted its position in shares of Genuine Parts by 3.3% in the 2nd quarter. Optimist Retirement Group LLC now owns 12,464 shares of the specialty retailer’s stock worth $1,724,000 after acquiring an additional 394 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

NYSE GPC opened at $139.14 on Friday. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. The company has a 50 day moving average of $139.71 and a 200-day moving average of $145.46. 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 firm has a market cap of $19.38 billion, a price-to-earnings ratio of 15.51 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter last year, the company earned $2.44 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. On average, equities analysts forecast that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a $1.00 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.87%. Genuine Parts’s dividend payout ratio is 44.59%.

Analyst Ratings Changes

A number of research analysts recently commented on GPC shares. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. The Goldman Sachs Group dropped their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. 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. UBS Group dropped their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Finally, Wedbush cut 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. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $161.14.

About Genuine Parts

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.