Columbus Macro LLC Makes New $349,000 Investment in Genuine Parts (NYSE:GPC)

Columbus Macro LLC purchased a new stake in shares of Genuine Parts (NYSE:GPC) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 2,514 shares of the specialty retailer’s stock, valued at approximately $349,000.

Other large investors also recently modified their holdings of the company. Manchester Capital Management LLC boosted its position in Genuine Parts by 36.1% in the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares during the last quarter. North Star Investment Management Corp. raised its holdings in Genuine Parts by 8.5% in the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after purchasing an additional 70 shares during the period. CHICAGO TRUST Co NA lifted its position in Genuine Parts by 3.6% during the first quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after purchasing an additional 71 shares in the last quarter. First Citizens Bank & Trust Co. grew its holdings in Genuine Parts by 4.9% during the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock valued at $224,000 after purchasing an additional 75 shares during the period. Finally, HBK Sorce Advisory LLC increased its position in Genuine Parts by 1.8% in the first quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock worth $689,000 after buying an additional 80 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.3 %

Shares of NYSE:GPC traded down $0.46 on Friday, reaching $143.17. The company had a trading volume of 852,075 shares, compared to its average volume of 959,027. The firm has a market capitalization of $19.94 billion, a PE ratio of 15.96 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $164.45. The firm’s 50 day simple moving average is $138.97 and its 200-day simple moving average is $143.19.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.59 by ($0.15). The company 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%. Genuine Parts’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $2.44 EPS. As a group, analysts expect that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. UBS Group lowered their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Evercore ISI reduced their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Genuine Parts from $157.00 to $162.00 and gave the stock an “overweight” rating in a research report on Wednesday. Truist Financial reaffirmed a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group dropped their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $157.29.

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.