Berger Financial Group Inc decreased its holdings in shares of Genuine Parts (NYSE:GPC – Free Report) by 2.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,400 shares of the specialty retailer’s stock after selling 759 shares during the quarter. Berger Financial Group Inc’s holdings in Genuine Parts were worth $4,806,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Genuine Parts by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,056 shares of the specialty retailer’s stock worth $2,401,000 after buying an additional 1,180 shares during the last quarter. Cibc World Market Inc. grew its holdings in Genuine Parts by 14.8% during the first quarter. Cibc World Market Inc. now owns 2,740 shares of the specialty retailer’s stock valued at $345,000 after purchasing an additional 354 shares during the last quarter. Sei Investments Co. raised its position in shares of Genuine Parts by 9.4% in the first quarter. Sei Investments Co. now owns 50,928 shares of the specialty retailer’s stock valued at $6,448,000 after purchasing an additional 4,372 shares during the period. Aviva PLC boosted its holdings in shares of Genuine Parts by 63.1% during the 1st quarter. Aviva PLC now owns 78,951 shares of the specialty retailer’s stock worth $9,949,000 after buying an additional 30,545 shares during the period. Finally, Allianz Asset Management GmbH grew its stake in Genuine Parts by 195.1% in the 1st quarter. Allianz Asset Management GmbH now owns 114,328 shares of the specialty retailer’s stock valued at $14,408,000 after buying an additional 75,591 shares during the last quarter. Institutional investors own 77.51% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on GPC. Wedbush cut their target price on shares of Genuine Parts from $160.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday, October 20th. Truist Financial dropped their price target on Genuine Parts from $172.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, October 20th. StockNews.com started coverage on Genuine Parts in a research report on Thursday, October 5th. They issued a “buy” rating for the company. JPMorgan Chase & Co. boosted their target price on shares of Genuine Parts from $184.00 to $189.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. Finally, Stephens reduced 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. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.11.
Genuine Parts Price Performance
Shares of GPC stock traded up $0.57 during trading hours on Wednesday, hitting $138.83. The company had a trading volume of 106,787 shares, compared to its average volume of 1,004,792. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.58 and a current ratio of 1.16. The firm has a market capitalization of $19.46 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.54 and a beta of 0.94. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $187.73. The firm’s fifty day moving average is $141.05 and its 200 day moving average is $153.67.
Genuine Parts (NYSE:GPC – Get Free Report) last announced its quarterly earnings results on Thursday, October 19th. The specialty retailer reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.07. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Genuine Parts had a return on equity of 32.22% and a net margin of 5.44%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.23 earnings per share. On average, sell-side analysts predict that Genuine Parts will post 9.28 EPS for the current fiscal year.
Genuine Parts Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.74%. Genuine Parts’s dividend payout ratio is currently 42.99%.
Genuine Parts 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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