Cambridge Investment Research Advisors Inc. decreased its position in shares of Genuine Parts (NYSE:GPC) by 4.4% during the first quarter, HoldingsChannel.com reports. The fund owned 13,606 shares of the specialty retailer’s stock after selling 628 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Genuine Parts were worth $1,524,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Hartford Financial Management Inc. grew its stake in shares of Genuine Parts by 4.0% in the 1st quarter. Hartford Financial Management Inc. now owns 17,935 shares of the specialty retailer’s stock worth $2,009,000 after buying an additional 690 shares during the last quarter. National Asset Management Inc. purchased a new stake in shares of Genuine Parts in the 1st quarter worth approximately $529,000. Jensen Investment Management Inc. grew its stake in shares of Genuine Parts by 9.6% in the 1st quarter. Jensen Investment Management Inc. now owns 9,450 shares of the specialty retailer’s stock worth $1,059,000 after buying an additional 830 shares during the last quarter. Tdam USA Inc. grew its stake in shares of Genuine Parts by 2.2% in the 1st quarter. Tdam USA Inc. now owns 6,818 shares of the specialty retailer’s stock worth $764,000 after buying an additional 149 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Genuine Parts by 0.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 591,999 shares of the specialty retailer’s stock worth $66,322,000 after buying an additional 2,792 shares during the last quarter. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Shares of GPC opened at $99.22 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.67. Genuine Parts has a 12 month low of $90.37 and a 12 month high of $115.20. The firm has a market cap of $14.45 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 3.23 and a beta of 0.95.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, April 18th. The specialty retailer reported $1.28 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.03). Genuine Parts had a net margin of 4.20% and a return on equity of 23.46%. The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter in the prior year, the business posted $1.27 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts expect that Genuine Parts will post 5.9 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a dividend of $0.7625 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.05 annualized dividend and a yield of 3.07%. Genuine Parts’s dividend payout ratio is 53.70%.

In other Genuine Parts news, insider Scott Sonnemaker bought 5,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were acquired at an average cost of $99.01 per share, for a total transaction of $495,050.00. Following the purchase, the insider now owns 5,000 shares in the company, valued at approximately $495,050. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.50% of the company’s stock.

Several analysts recently weighed in on the company. Stephens assumed coverage on Genuine Parts in a research note on Thursday, May 30th. They issued an “overweight” rating and a $114.00 price target on the stock. Zacks Investment Research downgraded Genuine Parts from a “hold” rating to a “sell” rating and set a $104.00 price target on the stock. in a research note on Monday, May 27th. ValuEngine downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Finally, Evercore ISI assumed coverage on Genuine Parts in a research note on Wednesday, March 20th. They issued an “in-line” rating and a $110.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $105.33.

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Genuine Parts Company 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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Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts (NYSE:GPC).

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

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