B.O.S.S. Retirement Advisors LLC lessened its stake in Genuine Parts (NYSE:GPC – Free Report) by 43.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,238 shares of the specialty retailer’s stock after selling 7,728 shares during the period. B.O.S.S. Retirement Advisors LLC’s holdings in Genuine Parts were worth $1,733,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in GPC. Oak Thistle LLC acquired a new position in Genuine Parts in the first quarter worth about $221,000. Vinva Investment Management Ltd acquired a new position in Genuine Parts in the first quarter worth about $937,000. Securian Asset Management Inc. raised its position in Genuine Parts by 1.8% in the first quarter. Securian Asset Management Inc. now owns 11,934 shares of the specialty retailer’s stock worth $1,997,000 after purchasing an additional 215 shares in the last quarter. State of Michigan Retirement System raised its position in Genuine Parts by 1.0% in the first quarter. State of Michigan Retirement System now owns 38,729 shares of the specialty retailer’s stock worth $6,480,000 after purchasing an additional 400 shares in the last quarter. Finally, Creative Planning raised its position in Genuine Parts by 0.5% in the fourth quarter. Creative Planning now owns 45,649 shares of the specialty retailer’s stock worth $7,921,000 after purchasing an additional 208 shares in the last quarter. Institutional investors own 77.51% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently weighed in on the stock. Northcoast Research assumed coverage on shares of Genuine Parts in a report on Wednesday, June 28th. They set a “buy” rating and a $195.00 price objective for the company. Truist Financial dropped their price objective on shares of Genuine Parts from $195.00 to $191.00 and set a “buy” rating for the company in a report on Friday, July 21st. JPMorgan Chase & Co. lowered their price target on shares of Genuine Parts from $190.00 to $184.00 and set an “overweight” rating for the company in a report on Friday, July 21st. Stephens lowered their price target on shares of Genuine Parts from $172.00 to $168.00 and set an “equal weight” rating for the company in a report on Friday, July 21st. Finally, Bank of America raised shares of Genuine Parts from a “neutral” rating to a “buy” rating and raised their price target for the company from $185.00 to $189.00 in a report on Thursday, June 1st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $177.00.
Genuine Parts Stock Down 0.9 %
Shares of NYSE:GPC traded down $1.37 during midday trading on Friday, reaching $148.83. 932,525 shares of the company were exchanged, compared to its average volume of 996,698. Genuine Parts has a fifty-two week low of $145.30 and a fifty-two week high of $187.73. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 0.73. The stock has a fifty day simple moving average of $156.35 and a two-hundred day simple moving average of $161.41. The firm has a market cap of $20.90 billion, a PE ratio of 17.41, a P/E/G ratio of 1.80 and a beta of 0.90.
Genuine Parts (NYSE:GPC – Get Free Report) last issued its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.10. Genuine Parts had a net margin of 5.30% and a return on equity of 32.43%. The business had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.96 billion. During the same period last year, the business posted $2.20 earnings per share. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts forecast that Genuine Parts will post 9.24 earnings per share for the current year.
Genuine Parts Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $3.80 annualized dividend and a dividend yield of 2.55%. Genuine Parts’s dividend payout ratio is presently 44.44%.
Genuine Parts Company Profile
Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.
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