Charles Schwab Investment Management Inc. trimmed its holdings in shares of Genuine Parts (NYSE:GPC – Free Report) by 0.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,154,121 shares of the specialty retailer’s stock after selling 2,572 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Genuine Parts were worth $347,117,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of GPC. Exchange Traded Concepts LLC boosted its stake in Genuine Parts by 110.8% in the second quarter. Exchange Traded Concepts LLC now owns 156 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 82 shares during the last quarter. Ten Capital Wealth Advisors LLC grew its holdings in Genuine Parts by 1,308.3% during the first quarter. Ten Capital Wealth Advisors LLC now owns 169 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 157 shares during the period. Salem Investment Counselors Inc. grew its holdings in Genuine Parts by 42.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 200 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 60 shares during the period. Compass Wealth Management LLC purchased a new stake in Genuine Parts in the fourth quarter worth $35,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Genuine Parts by 175.0% in the second quarter. EverSource Wealth Advisors LLC now owns 220 shares of the specialty retailer’s stock valued at $37,000 after buying an additional 140 shares during the period. 77.51% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Evercore ISI lifted their price objective on Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a report on Friday, September 8th. UBS Group assumed coverage on shares of Genuine Parts in a research note on Thursday, October 12th. They issued a “neutral” rating and a $160.00 target price for the company. Truist Financial dropped their price target on shares of Genuine Parts from $172.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, October 20th. Wedbush reduced their price objective on shares of Genuine Parts from $160.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, October 20th. Finally, Stephens lowered their target price on shares of Genuine Parts from $172.00 to $168.00 and set an “equal weight” rating on the stock in a report on Friday, July 21st. Five investment 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $168.11.
Genuine Parts Price Performance
Shares of NYSE:GPC opened at $137.47 on Friday. Genuine Parts has a one year low of $126.35 and a one year high of $187.73. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.16 and a quick ratio of 0.58. The firm has a market capitalization of $19.27 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 1.57 and a beta of 0.94. The company’s fifty day moving average price is $140.50 and its 200-day moving average price is $153.45.
Genuine Parts (NYSE:GPC – Get Free Report) last released 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. Genuine Parts had a return on equity of 32.22% and a net margin of 5.44%. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter last year, the business posted $2.23 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities research analysts anticipate that Genuine Parts will post 9.28 earnings per share for the current fiscal year.
Genuine Parts Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be given a $0.95 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.80 dividend on an annualized basis and a yield of 2.76%. Genuine Parts’s payout ratio is 42.99%.
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.
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