Seven Eight Capital LP Has $1.01 Million Stock Position in Genuine Parts (NYSE:GPC)

Seven Eight Capital LP cut its holdings in Genuine Parts (NYSE:GPC) by 14.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,279 shares of the specialty retailer’s stock after selling 1,256 shares during the period. Seven Eight Capital LP’s holdings in Genuine Parts were worth $1,007,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of GPC. WD Rutherford LLC bought a new stake in shares of Genuine Parts in the first quarter valued at approximately $26,000. Assetmark Inc. grew its holdings in shares of Genuine Parts by 109.1% during the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 96 shares in the last quarter. Union Savings Bank raised its stake in Genuine Parts by 100.0% in the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Thompson Investment Management Inc. bought a new stake in Genuine Parts during the first quarter worth about $35,000. Finally, Stephens Consulting LLC grew its stake in Genuine Parts by 740.7% during the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after buying an additional 200 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $137.02 on Friday. The stock has a market cap of $19.09 billion, a price-to-earnings ratio of 15.28 and a beta of 0.90. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $164.45. The company’s fifty day moving average is $139.76 and its 200 day moving average is $145.41. 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 (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 net margin of 5.24% and a return on equity of 30.03%. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $2.44 EPS. Sell-side analysts forecast that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given 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 2.92%. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wedbush reduced 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 report on Wednesday, July 24th. Truist Financial restated a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research note on Wednesday, August 28th. UBS Group lowered their price objective 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. Evercore ISI lowered their price target on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group cut their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average 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.