Genuine Parts Company $GPC Position Trimmed by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC decreased its holdings in shares of Genuine Parts Company (NYSE:GPC) by 27.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,962 shares of the specialty retailer’s stock after selling 34,620 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.07% of Genuine Parts worth $12,372,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GPC. Peoples Financial Services CORP. bought a new position in shares of Genuine Parts in the third quarter worth about $29,000. Golden State Wealth Management LLC grew its holdings in shares of Genuine Parts by 8,833.3% during the second quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock worth $33,000 after purchasing an additional 265 shares during the last quarter. Concord Wealth Partners increased its holdings in shares of Genuine Parts by 148.7% in the second quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock valued at $36,000 after purchasing an additional 177 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in Genuine Parts by 7,825.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 313 shares during the last quarter. Finally, Cromwell Holdings LLC grew its holdings in Genuine Parts by 49.1% during the 2nd quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock worth $42,000 after acquiring an additional 114 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Up 0.6%

Genuine Parts stock opened at $137.63 on Friday. The company has a market capitalization of $19.15 billion, a PE ratio of 23.69 and a beta of 0.75. The firm’s fifty day moving average is $128.73 and its 200 day moving average is $131.79. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.78. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $143.48.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.04). The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.88 EPS. As a group, sell-side analysts predict that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Friday, December 5th were given a dividend of $1.03 per share. The ex-dividend date was Friday, December 5th. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. Genuine Parts’s dividend payout ratio is currently 70.91%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. The Goldman Sachs Group upgraded shares of Genuine Parts from a “sell” rating to a “neutral” rating and upped their price objective for the company from $130.00 to $142.00 in a report on Thursday, November 13th. Evercore ISI upped their price objective on Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, December 29th. Finally, UBS Group raised their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Genuine Parts Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.