Leibman Financial Services Inc. Buys New Position in Genuine Parts (NYSE:GPC)

Leibman Financial Services Inc. purchased a new stake in Genuine Parts (NYSE:GPC) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 21,189 shares of the specialty retailer’s stock, valued at approximately $2,960,000. Genuine Parts makes up 2.1% of Leibman Financial Services Inc.’s portfolio, making the stock its 23rd largest holding.

Other hedge funds have also added to or reduced their stakes in the company. WD Rutherford LLC bought a new stake in shares of Genuine Parts during the 1st quarter valued at about $26,000. Union Savings Bank boosted its position in Genuine Parts by 100.0% during the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after acquiring 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 worth approximately $35,000. Stephens Consulting LLC raised its position in shares of 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 acquiring an additional 200 shares in the last quarter. Finally, Quarry LP lifted its stake in shares of Genuine Parts by 138.7% in the 4th quarter. Quarry LP now owns 284 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 165 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Trading Down 1.0 %

Shares of NYSE GPC opened at $133.67 on Wednesday. The firm’s 50 day moving average price is $139.17 and its 200-day moving average price is $143.95. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $164.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The company has a market cap of $18.62 billion, a PE ratio of 14.90 and a beta of 0.90.

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

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. The Goldman Sachs Group decreased their price target 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 dropped their price objective 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. UBS Group cut their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Finally, Wedbush lowered their target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $161.14.

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.