Genuine Parts (NYSE:GPC) Position Increased by Vest Financial LLC

Vest Financial LLC raised its position in shares of Genuine Parts (NYSE:GPC) by 32.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 357,711 shares of the specialty retailer’s stock after buying an additional 87,718 shares during the quarter. Vest Financial LLC’s holdings in Genuine Parts were worth $49,965,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Genuine Parts by 726.9% in the 4th quarter. Wellington Management Group LLP now owns 54,742 shares of the specialty retailer’s stock valued at $7,582,000 after purchasing an additional 48,122 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Genuine Parts by 4.6% in the 4th quarter. Fisher Asset Management LLC now owns 2,355 shares of the specialty retailer’s stock valued at $326,000 after purchasing an additional 103 shares during the period. HighPoint Advisor Group LLC acquired a new position in Genuine Parts in the fourth quarter worth approximately $276,000. Czech National Bank increased its holdings in Genuine Parts by 0.5% in the first quarter. Czech National Bank now owns 24,667 shares of the specialty retailer’s stock worth $3,822,000 after buying an additional 112 shares during the last quarter. Finally, RFG Advisory LLC acquired a new position in Genuine Parts in the first quarter worth approximately $225,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GPC shares. Wedbush dropped their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. The Goldman Sachs Group dropped their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Truist Financial reiterated a “buy” rating and set a $164.00 price target on shares of Genuine Parts in a report on Wednesday, August 28th. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, UBS Group lowered their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $157.29.

Genuine Parts Stock Performance

GPC stock traded down $0.46 on Friday, reaching $143.17. 852,075 shares of the company were exchanged, compared to its average volume of 959,027. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45. The stock’s fifty day moving average price is $138.97 and its 200 day moving average price is $143.19. 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 debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company’s revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $2.44 EPS. On average, research analysts anticipate that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend 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%.

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.