Gateway Advisory LLC acquired a new stake in Genuine Parts (NYSE:GPC – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,680 shares of the specialty retailer’s stock, valued at approximately $284,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of GPC. Exchange Traded Concepts LLC lifted its holdings in Genuine Parts by 110.8% during the 2nd quarter. Exchange Traded Concepts LLC now owns 156 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 82 shares in the last quarter. Ten Capital Wealth Advisors LLC raised its stake in shares of 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 acquiring an additional 157 shares in the last quarter. Salem Investment Counselors Inc. boosted its holdings in shares of Genuine Parts by 42.9% in 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 bought a new position in Genuine Parts in the fourth quarter worth approximately $35,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Genuine Parts by 175.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 220 shares of the specialty retailer’s stock worth $37,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 77.51% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have recently issued reports on GPC. The Goldman Sachs Group dropped their price target on Genuine Parts from $178.00 to $152.00 and set a “neutral” rating on the stock in a research report on Friday, October 20th. UBS Group began coverage on shares of Genuine Parts in a report on Thursday, October 12th. They set a “neutral” rating and a $160.00 target price on the stock. Evercore ISI boosted their price target on shares of Genuine Parts from $160.00 to $165.00 and gave the company an “in-line” rating in a report on Friday, September 8th. StockNews.com assumed coverage on shares of Genuine Parts in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Finally, Truist Financial reduced their price objective on shares of Genuine Parts from $172.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, October 20th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $168.11.
Genuine Parts Stock Down 0.0 %
Shares of GPC stock traded down $0.06 during trading hours on Friday, reaching $137.41. 1,481,413 shares of the company’s stock were exchanged, compared to its average volume of 1,010,333. The company has a current ratio of 1.16, a quick ratio of 0.58 and a debt-to-equity ratio of 0.71. The company has a market cap of $19.26 billion, a price-to-earnings ratio of 15.54, a P/E/G ratio of 1.57 and a beta of 0.94. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $187.73. The stock’s 50 day moving average is $140.25 and its 200-day moving average is $153.09.
Genuine Parts (NYSE:GPC – Get Free Report) last announced its earnings results on Thursday, October 19th. The specialty retailer reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.07. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.93 billion. Genuine Parts had a return on equity of 32.22% and a net margin of 5.44%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.23 EPS. Analysts predict that Genuine Parts will post 9.28 earnings per share for the current fiscal year.
Genuine Parts Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be paid a dividend of $0.95 per share. The ex-dividend date is Thursday, November 30th. This represents a $3.80 dividend on an annualized basis and a yield of 2.77%. Genuine Parts’s payout ratio is 42.99%.
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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