Financial Management Professionals Inc. Lowers Holdings in Genuine Parts (NYSE:GPC)

Financial Management Professionals Inc. trimmed its position in Genuine Parts (NYSE:GPC) by 61.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 236 shares of the specialty retailer’s stock after selling 374 shares during the period. Financial Management Professionals Inc.’s holdings in Genuine Parts were worth $40,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OLD Mission Capital LLC purchased a new position in Genuine Parts in the 4th quarter valued at $28,000. Ten Capital Wealth Advisors LLC boosted its position in shares of Genuine Parts by 1,308.3% during the 1st quarter. Ten Capital Wealth Advisors LLC now owns 169 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 157 shares in the last quarter. Salem Investment Counselors Inc. boosted its position in shares of Genuine Parts by 42.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 200 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 60 shares in the last quarter. Compass Wealth Management LLC purchased a new stake in shares of Genuine Parts during the 4th quarter worth $35,000. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Genuine Parts during the 1st quarter worth $46,000. 77.51% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 0.9 %

GPC opened at $148.83 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 0.58. The stock has a market capitalization of $20.90 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 1.80 and a beta of 0.90. The business has a 50-day moving average of $156.35 and a two-hundred day moving average of $161.30. Genuine Parts has a 12 month low of $145.30 and a 12 month high of $187.73.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $2.44 EPS for the quarter, beating the consensus estimate of $2.34 by $0.10. The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.96 billion. Genuine Parts had a return on equity of 32.43% and a net margin of 5.30%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.20 EPS. On average, research analysts expect that Genuine Parts will post 9.24 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, September 7th. Genuine Parts’s dividend payout ratio (DPR) is 44.44%.

Analyst Upgrades and Downgrades

Several brokerages have commented on GPC. Evercore ISI boosted their target price on shares of Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a research report on Friday, September 8th. JPMorgan Chase & Co. cut their price target on Genuine Parts from $190.00 to $184.00 and set an “overweight” rating for the company in a research note on Friday, July 21st. Truist Financial cut their price target on Genuine Parts from $195.00 to $191.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Wedbush cut their target price on shares of Genuine Parts from $170.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, July 21st. Finally, Stephens cut their target price on shares of Genuine Parts from $172.00 to $168.00 and set an “equal weight” rating for the company in a research note on Friday, July 21st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.

About Genuine Parts

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.