Genuine Parts (NYSE:GPC) Shares Bought by Brookstone Capital Management

Brookstone Capital Management raised its holdings in shares of Genuine Parts (NYSE:GPCGet Rating) by 10.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,776 shares of the specialty retailer’s stock after acquiring an additional 524 shares during the quarter. Brookstone Capital Management’s holdings in Genuine Parts were worth $792,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gradient Investments LLC lifted its position in shares of Genuine Parts by 65.8% during the 2nd quarter. Gradient Investments LLC now owns 189 shares of the specialty retailer’s stock worth $25,000 after buying an additional 75 shares during the last quarter. CHURCHILL MANAGEMENT Corp acquired a new position in Genuine Parts in the second quarter valued at $9,930,000. Stonnington Group LLC grew its holdings in shares of Genuine Parts by 277.6% during the second quarter. Stonnington Group LLC now owns 15,481 shares of the specialty retailer’s stock worth $2,136,000 after purchasing an additional 11,381 shares during the last quarter. Old Port Advisors lifted its holdings in shares of Genuine Parts by 6.8% in the 2nd quarter. Old Port Advisors now owns 10,562 shares of the specialty retailer’s stock valued at $1,428,000 after purchasing an additional 677 shares during the last quarter. Finally, Covington Capital Management boosted its position in shares of Genuine Parts by 9.8% in the 2nd quarter. Covington Capital Management now owns 75,090 shares of the specialty retailer’s stock valued at $9,987,000 after purchasing an additional 6,703 shares during the period. Institutional investors and hedge funds own 78.27% of the company’s stock.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $154.32 on Friday. The stock has a fifty day moving average price of $153.93 and a 200 day moving average price of $139.63. Genuine Parts has a 1-year low of $115.63 and a 1-year high of $164.99. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.17 and a quick ratio of 0.58. The company has a market cap of $21.83 billion, a PE ratio of 19.99, a P/E/G ratio of 1.97 and a beta of 0.97.

Genuine Parts (NYSE:GPCGet Rating) last released its earnings results on Wednesday, July 27th. The specialty retailer reported $2.20 EPS for the quarter, topping the consensus estimate of $2.03 by $0.17. The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.30 billion. Genuine Parts had a net margin of 5.38% and a return on equity of 31.67%. The business’s revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the business earned $1.74 EPS. Sell-side analysts forecast that Genuine Parts will post 7.97 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be given a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a yield of 2.32%. The ex-dividend date is Thursday, September 1st. Genuine Parts’s payout ratio is 46.37%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Evercore ISI reduced their price objective on Genuine Parts to $135.00 in a research note on Thursday, June 9th. StockNews.com upgraded shares of Genuine Parts from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 17th. Finally, Wedbush lifted their price objective on shares of Genuine Parts from $140.00 to $150.00 in a research note on Thursday, July 28th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Genuine Parts currently has an average rating of “Hold” and an average target price of $140.20.

Genuine Parts Profile

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Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, 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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