United Services Automobile Association Grows Stake in Genuine Parts (GPC)

United Services Automobile Association raised its holdings in shares of Genuine Parts (NYSE:GPC) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,315 shares of the specialty retailer’s stock after buying an additional 905 shares during the quarter. United Services Automobile Association owned about 0.09% of Genuine Parts worth $12,556,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in shares of Genuine Parts by 318.5% in the second quarter. Bank of America Corp DE now owns 7,036,209 shares of the specialty retailer’s stock valued at $645,853,000 after purchasing an additional 5,354,849 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Genuine Parts by 23.3% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,533,815 shares of the specialty retailer’s stock valued at $324,369,000 after purchasing an additional 667,620 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new stake in shares of Genuine Parts in the second quarter valued at about $205,387,000. American Century Companies Inc. grew its holdings in shares of Genuine Parts by 5.5% in the third quarter. American Century Companies Inc. now owns 2,061,657 shares of the specialty retailer’s stock valued at $204,929,000 after purchasing an additional 107,110 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Genuine Parts by 3.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 978,807 shares of the specialty retailer’s stock valued at $89,845,000 after purchasing an additional 30,313 shares during the period. 80.55% of the stock is owned by institutional investors and hedge funds.

In related news, Director John R. Holder bought 500 shares of the firm’s stock in a transaction on Monday, November 26th. The shares were bought at an average price of $100.81 per share, with a total value of $50,405.00. Following the completion of the transaction, the director now directly owns 7,058 shares of the company’s stock, valued at approximately $711,516.98. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Shares of GPC opened at $99.54 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.33 and a debt-to-equity ratio of 0.67. Genuine Parts has a 12-month low of $85.80 and a 12-month high of $107.75. The stock has a market capitalization of $14.83 billion, a P/E ratio of 21.45, a PEG ratio of 2.69 and a beta of 1.11.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, October 18th. The specialty retailer reported $1.48 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.48. Genuine Parts had a net margin of 3.99% and a return on equity of 22.54%. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.71 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Genuine Parts’s quarterly revenue was up 15.3% on a year-over-year basis. Equities research analysts anticipate that Genuine Parts will post 5.65 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 7th will be given a $0.72 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $2.88 dividend on an annualized basis and a yield of 2.89%. Genuine Parts’s payout ratio is currently 62.07%.

A number of brokerages recently issued reports on GPC. ValuEngine raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, October 19th. Bank of America lowered shares of Genuine Parts from a “neutral” rating to an “underperform” rating and set a $105.00 price objective for the company. in a report on Tuesday, October 30th. Finally, Zacks Investment Research lowered shares of Genuine Parts from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Genuine Parts presently has an average rating of “Hold” and an average target price of $104.60.

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About Genuine Parts

Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. 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 through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.

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

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