FORA Capital LLC Takes Position in Genuine Parts (NYSE:GPC)

FORA Capital LLC acquired a new stake in Genuine Parts (NYSE:GPC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,154 shares of the specialty retailer’s stock, valued at approximately $720,000.

A number of other large investors have also added to or reduced their stakes in the business. Wulff Hansen & CO. increased its position in Genuine Parts by 13,732.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after acquiring an additional 1,555,149 shares during the period. International Assets Investment Management LLC grew its stake in shares of Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock worth $81,621,000 after purchasing an additional 580,262 shares during the last quarter. Boston Trust Walden Corp acquired a new stake in Genuine Parts in the third quarter valued at $39,474,000. Dimensional Fund Advisors LP raised its position in Genuine Parts by 21.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock worth $189,296,000 after purchasing an additional 239,858 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in Genuine Parts by 29.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock worth $135,579,000 after buying an additional 223,712 shares during the period. Institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

GPC has been the subject of several recent research reports. The Goldman Sachs Group decreased their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Truist Financial reduced their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Wedbush lowered their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, UBS Group cut their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research 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 company. According to MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Stock Performance

NYSE GPC opened at $126.87 on Friday. The company has a market cap of $17.64 billion, a P/E ratio of 16.33 and a beta of 0.92. The company has a fifty day simple moving average of $128.88 and a 200 day simple moving average of $136.69. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same period in the previous year, the firm earned $2.49 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts predict that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Friday, December 6th. Genuine Parts’s dividend payout ratio is presently 51.48%.

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.