Empirical Finance LLC Purchases Shares of 1,721 Genuine Parts (NYSE:GPC)

Empirical Finance LLC purchased a new stake in shares of Genuine Parts (NYSE:GPC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,721 shares of the specialty retailer’s stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GPC. Creative Financial Designs Inc. ADV boosted its holdings in shares of Genuine Parts by 2.3% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 3,652 shares of the specialty retailer’s stock worth $462,000 after purchasing an additional 82 shares during the period. Pinebridge Investments L.P. boosted its holdings in shares of Genuine Parts by 2.1% in the 1st quarter. Pinebridge Investments L.P. now owns 4,557 shares of the specialty retailer’s stock worth $527,000 after purchasing an additional 92 shares during the period. Neuberger Berman Group LLC boosted its holdings in shares of Genuine Parts by 0.8% in the 1st quarter. Neuberger Berman Group LLC now owns 11,098 shares of the specialty retailer’s stock worth $1,249,000 after purchasing an additional 93 shares during the period. Valley Brook Capital Group Inc. boosted its holdings in shares of Genuine Parts by 1.9% in the 2nd quarter. Valley Brook Capital Group Inc. now owns 5,475 shares of the specialty retailer’s stock worth $692,000 after purchasing an additional 100 shares during the period. Finally, State of Michigan Retirement System boosted its holdings in shares of Genuine Parts by 0.3% in the 2nd quarter. State of Michigan Retirement System now owns 36,357 shares of the specialty retailer’s stock worth $4,598,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 76.76% of the company’s stock.

Shares of GPC stock opened at $122.00 on Friday. Genuine Parts has a 52-week low of $88.99 and a 52-week high of $135.93. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.62 and a current ratio of 1.18. The firm has a market capitalization of $17.47 billion, a P/E ratio of 21.75, a P/E/G ratio of 2.02 and a beta of 1.11. The stock has a 50 day moving average price of $124.62 and a 200 day moving average price of $123.81.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, July 22nd. The specialty retailer reported $1.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.20. Genuine Parts had a return on equity of 28.92% and a net margin of 4.55%. The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period last year, the company earned $1.32 EPS. Genuine Parts’s quarterly revenue was up 25.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Genuine Parts will post 6.4 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 3rd will be paid a dividend of $0.815 per share. This represents a $3.26 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, September 2nd. Genuine Parts’s dividend payout ratio is currently 61.86%.

Separately, Zacks Investment Research upgraded Genuine Parts from a “hold” rating to a “buy” rating and set a $135.00 target price for the company in a report on Tuesday, July 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Genuine Parts has an average rating of “Hold” and a consensus target price of $129.17.

In other Genuine Parts news, Director John R. Holder purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 13th. The stock was purchased at an average cost of $124.93 per share, with a total value of $249,860.00. Following the purchase, the director now owns 17,482 shares of the company’s stock, valued at $2,184,026.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is currently owned by company insiders.

About Genuine Parts

Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group and Industrial Parts Group. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.

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

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