HBK Sorce Advisory LLC Sells 134 Shares of Genuine Parts (NYSE:GPC)

HBK Sorce Advisory LLC trimmed its holdings in Genuine Parts (NYSE:GPC) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,303 shares of the specialty retailer’s stock after selling 134 shares during the period. HBK Sorce Advisory LLC’s holdings in Genuine Parts were worth $596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Stifel Financial Corp lifted its position in Genuine Parts by 27.0% in the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after acquiring an additional 431,623 shares in the last quarter. Comerica Bank lifted its holdings in shares of Genuine Parts by 19.6% in the first quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock valued at $17,609,000 after purchasing an additional 18,657 shares in the last quarter. Harvest Investment Advisors LLC boosted its position in shares of Genuine Parts by 1.5% during the fourth quarter. Harvest Investment Advisors LLC now owns 8,869 shares of the specialty retailer’s stock valued at $1,228,000 after buying an additional 133 shares during the last quarter. Mezzasalma Advisors LLC grew its holdings in Genuine Parts by 497.0% during the first quarter. Mezzasalma Advisors LLC now owns 12,035 shares of the specialty retailer’s stock worth $1,865,000 after buying an additional 10,019 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in Genuine Parts by 137.9% in the 1st quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock valued at $3,560,000 after buying an additional 13,330 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $137.35 on Friday. The firm has a market cap of $19.14 billion, a price-to-earnings ratio of 15.31 and a beta of 0.90. The stock has a fifty day simple moving average of $139.38 and a two-hundred day simple moving average of $145.72. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). The firm had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company’s revenue was up .8% compared to the same quarter last year. During the same period last year, the business posted $2.44 EPS. Analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Friday, September 6th. Genuine Parts’s payout ratio is currently 44.59%.

Analysts Set New Price Targets

Several analysts have recently issued reports on GPC shares. The Goldman Sachs Group reduced their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Evercore ISI decreased their price objective on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research note on Wednesday, July 24th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. Truist Financial reaffirmed a “buy” rating and set a $164.00 price target on shares of Genuine Parts in a research report on Wednesday, August 28th. Finally, UBS Group cut their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $161.14.

About Genuine Parts

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: 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 equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.