Creative Planning Sells 1,510 Shares of Genuine Parts (NYSE:GPC)

Creative Planning reduced its position in shares of Genuine Parts (NYSE:GPC) by 2.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,567 shares of the specialty retailer’s stock after selling 1,510 shares during the period. Creative Planning’s holdings in Genuine Parts were worth $7,762,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Comerica Bank increased its position in Genuine Parts by 19.6% in the 1st quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock valued at $17,609,000 after acquiring an additional 18,657 shares during the period. Mezzasalma Advisors LLC raised its position in Genuine Parts by 497.0% during the 1st quarter. Mezzasalma Advisors LLC now owns 12,035 shares of the specialty retailer’s stock worth $1,865,000 after purchasing an additional 10,019 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Genuine Parts by 137.9% during the 1st quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock worth $3,560,000 after buying an additional 13,330 shares during the period. Hennessy Advisors Inc. bought a new stake in shares of Genuine Parts in the 1st quarter valued at about $3,083,000. Finally, Wellington Management Group LLP raised its position in shares of Genuine Parts by 726.9% during the fourth quarter. Wellington Management Group LLP now owns 54,742 shares of the specialty retailer’s stock worth $7,582,000 after acquiring an additional 48,122 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GPC. Evercore ISI increased their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday. Wedbush decreased their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, UBS Group dropped their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Stock Performance

Shares of GPC opened at $116.24 on Thursday. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a market cap of $16.19 billion, a PE ratio of 12.96 and a beta of 0.90. The stock has a 50-day moving average of $138.64 and a 200-day moving average of $142.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the prior year, the business earned $2.49 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts predict that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business 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 was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.44%. Genuine Parts’s dividend payout ratio is presently 44.59%.

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.