FourThought Financial LLC Acquires Shares of 358 Genuine Parts (NYSE:GPC)

FourThought Financial LLC acquired a new stake in Genuine Parts (NYSE:GPC – Get Rating) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 358 shares of the specialty retailer’s stock, valued at approximately $53,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quent Capital LLC boosted its position in Genuine Parts by 20.7% in the 3rd quarter. Quent Capital LLC now owns 344 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 59 shares during the last quarter. Forum Financial Management LP lifted its position in shares of Genuine Parts by 2.5% during the third quarter. Forum Financial Management LP now owns 2,453 shares of the specialty retailer’s stock worth $366,000 after purchasing an additional 60 shares during the last quarter. Buckingham Strategic Wealth LLC lifted its position in shares of Genuine Parts by 0.7% during the third quarter. Buckingham Strategic Wealth LLC now owns 8,091 shares of the specialty retailer’s stock worth $1,208,000 after purchasing an additional 60 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Genuine Parts by 28.0% during the third quarter. Pacer Advisors Inc. now owns 288 shares of the specialty retailer’s stock worth $43,000 after purchasing an additional 63 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Genuine Parts by 2.9% during the third quarter. Federated Hermes Inc. now owns 2,402 shares of the specialty retailer’s stock worth $359,000 after purchasing an additional 68 shares during the last quarter. 78.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GPC has been the topic of several research analyst reports. The Goldman Sachs Group increased their price target on shares of Genuine Parts from $147.00 to $157.00 and gave the stock a “sell” rating in a research report on Thursday, February 23rd. Wedbush reaffirmed a “neutral” rating on shares of Genuine Parts in a research report on Friday, February 24th. Truist Financial increased their price target on shares of Genuine Parts from $170.00 to $186.00 and gave the stock a “hold” rating in a research report on Friday, February 24th. Finally, StockNews.com assumed coverage on shares of Genuine Parts in a research report on Thursday. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and an average price target of $152.20.

Genuine Parts Price Performance

GPC opened at $162.07 on Friday. The firm has a market cap of $22.82 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 1.82 and a beta of 0.90. Genuine Parts has a fifty-two week low of $124.85 and a fifty-two week high of $187.73. The company’s 50-day moving average price is $169.98 and its 200 day moving average price is $169.54. The company has a quick ratio of 0.57, a current ratio of 1.15 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The specialty retailer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.15. The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.33 billion. Genuine Parts had a net margin of 5.35% and a return on equity of 32.22%. Genuine Parts’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.79 earnings per share. As a group, sell-side analysts expect that Genuine Parts will post 8.93 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Friday, March 3rd will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.34%. This is a boost from Genuine Parts’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, March 2nd. Genuine Parts’s dividend payout ratio (DPR) is presently 45.73%.

Genuine Parts Company Profile

(Get Rating)

Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group, Industrial Parts Group, and Corporate. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.