Short Interest in Genuine Parts (NYSE:GPC) Rises By 10.0%

Genuine Parts (NYSE:GPC - Get Free Report) saw a large growth in short interest in December. As of December 15th, there was short interest totalling 3,300,000 shares, a growth of 10.0% from the November 30th total of 3,000,000 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is currently 2.5 days.

Analyst Ratings Changes

GPC has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their price target on Genuine Parts from $162.00 to $138.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. Evercore ISI raised their price target on Genuine Parts from $155.00 to $160.00 and gave the company an "in-line" rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their target price on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating for the company in a research report on Tuesday, October 22nd. StockNews.com cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Wednesday, October 16th. Finally, UBS Group dropped their target price on shares of Genuine Parts from $145.00 to $125.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Genuine Parts presently has an average rating of "Hold" and an average target price of $139.57.

Genuine Parts Price Performance

GPC stock traded up $0.94 during midday trading on Tuesday, reaching $116.76. The company had a trading volume of 880,035 shares, compared to its average volume of 1,070,887. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The stock has a 50 day moving average price of $120.69 and a 200-day moving average price of $132.47. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The company has a market capitalization of $16.23 billion, a price-to-earnings ratio of 15.03 and a beta of 0.94.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. Genuine Parts's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.49 earnings per share. Equities research analysts expect that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Friday, December 6th. Genuine Parts's payout ratio is 51.48%.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the sale, the director now directly owns 11,357 shares of the company's stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Genuine Parts

A number of institutional investors have recently added to or reduced their stakes in the business. Metis Global Partners LLC lifted its position in shares of Genuine Parts by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer's stock worth $625,000 after purchasing an additional 85 shares during the period. Guardian Wealth Advisors LLC increased its holdings in Genuine Parts by 2.7% in the third quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer's stock worth $484,000 after purchasing an additional 91 shares in the last quarter. Marco Investment Management LLC grew its position in shares of Genuine Parts by 1.2% during the 3rd quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer's stock worth $1,104,000 after buying an additional 91 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Genuine Parts by 4.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,216 shares of the specialty retailer's stock valued at $307,000 after acquiring an additional 95 shares during the period. Finally, Pinnacle West Asset Management Inc. boosted its stake in Genuine Parts by 1.4% during the second quarter. Pinnacle West Asset Management Inc. now owns 6,705 shares of the specialty retailer's stock worth $927,000 after acquiring an additional 95 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Company 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.