WESPAC Advisors LLC Has $2.61 Million Holdings in Genuine Parts (NYSE:GPC)

WESPAC Advisors LLC cut its position in Genuine Parts (NYSE:GPC) by 6.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,210 shares of the specialty retailer’s stock after selling 1,880 shares during the period. Genuine Parts accounts for about 1.9% of WESPAC Advisors LLC’s investment portfolio, making the stock its 19th biggest position. WESPAC Advisors LLC’s holdings in Genuine Parts were worth $2,611,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NEXT Financial Group Inc bought a new position in shares of Genuine Parts in the second quarter worth about $26,000. Cutler Group LP raised its stake in shares of Genuine Parts by 967.7% in the first quarter. Cutler Group LP now owns 269 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 300 shares during the last quarter. Trust Department MB Financial Bank N A raised its stake in shares of Genuine Parts by 545.7% in the first quarter. Trust Department MB Financial Bank N A now owns 297 shares of the specialty retailer’s stock worth $33,000 after acquiring an additional 251 shares during the last quarter. Gables Capital Management Inc. raised its stake in shares of Genuine Parts by 125.0% in the first quarter. Gables Capital Management Inc. now owns 360 shares of the specialty retailer’s stock worth $40,000 after acquiring an additional 200 shares during the last quarter. Finally, Destination Wealth Management bought a new position in shares of Genuine Parts in the first quarter worth about $41,000. 76.71% of the stock is owned by institutional investors.

GPC traded down $2.01 during trading hours on Friday, hitting $92.52. 484,691 shares of the company’s stock were exchanged, compared to its average volume of 797,191. Genuine Parts has a 1-year low of $91.04 and a 1-year high of $115.20. The firm has a 50-day moving average price of $101.94. The company has a market capitalization of $14.31 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 3.35 and a beta of 0.94. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 1.26.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, July 18th. The specialty retailer reported $1.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.08). Genuine Parts had a return on equity of 23.16% and a net margin of 4.17%. The firm had revenue of $4.93 billion for the quarter, compared to analyst estimates of $5 billion. During the same quarter in the previous year, the company earned $1.59 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Genuine Parts will post 5.7 EPS for the current fiscal year.

GPC has been the subject of a number of recent research reports. ValuEngine downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Royal Bank of Canada set a $101.00 price target on shares of Genuine Parts and gave the stock a “hold” rating in a research note on Friday, July 19th. Zacks Investment Research raised shares of Genuine Parts from a “sell” rating to a “hold” rating and set a $103.00 price target for the company in a research note on Wednesday, July 24th. Stephens initiated coverage on shares of Genuine Parts in a research note on Thursday, May 30th. They set an “overweight” rating and a $114.00 price target for the company. Finally, Jefferies Financial Group set a $102.00 price target on shares of Genuine Parts and gave the stock a “hold” rating in a research note on Friday, July 19th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Genuine Parts currently has an average rating of “Hold” and a consensus price target of $105.75.

In other Genuine Parts news, insider Scott Sonnemaker purchased 5,000 shares of Genuine Parts stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average price of $99.01 per share, with a total value of $495,050.00. Following the transaction, the insider now owns 5,000 shares in the company, valued at approximately $495,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is currently owned by company insiders.

Genuine Parts Profile

Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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