waypoint wealth counsel Increases Stake in Genuine Parts (NYSE:GPC)

waypoint wealth counsel raised its position in Genuine Parts (NYSE:GPC) by 4.2% during the second quarter, HoldingsChannel reports. The firm owned 2,456 shares of the specialty retailer’s stock after buying an additional 100 shares during the quarter. waypoint wealth counsel’s holdings in Genuine Parts were worth $340,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Assetmark Inc. lifted its holdings in Genuine Parts by 109.1% during the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after buying an additional 96 shares during the last quarter. WD Rutherford LLC purchased a new position in Genuine Parts in the first quarter valued at approximately $26,000. Union Savings Bank raised its holdings in Genuine Parts by 100.0% during the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. Thompson Investment Management Inc. purchased a new stake in shares of Genuine Parts during the 1st quarter worth approximately $35,000. Finally, Stephens Consulting LLC boosted its holdings in shares of Genuine Parts by 740.7% in the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 200 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Wedbush reduced their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. UBS Group dropped their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Truist Financial reduced their price objective on Genuine Parts from $183.00 to $164.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. Finally, StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $161.14.

Genuine Parts Stock Performance

Shares of GPC stock traded up $0.30 during midday trading on Friday, hitting $138.86. The company had a trading volume of 624,101 shares, compared to its average volume of 1,013,090. The stock has a market cap of $19.34 billion, a price-to-earnings ratio of 15.48 and a beta of 0.92. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The company’s 50 day simple moving average is $138.79 and its 200 day simple moving average is $146.25. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The firm had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the business earned $2.44 earnings per share. Research analysts anticipate that Genuine Parts will post 9.36 earnings per share for the current fiscal year.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the transaction, the director now directly owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.37% of the company’s stock.

Genuine Parts Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: 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 equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.