Genuine Parts (NYSE:GPC) Shares Sold by Core Alternative Capital

Core Alternative Capital trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 10.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,408 shares of the specialty retailer’s stock after selling 5,791 shares during the period. Core Alternative Capital’s holdings in Genuine Parts were worth $6,696,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Comerica Bank boosted its holdings in Genuine Parts by 19.6% in the first quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock worth $17,609,000 after purchasing an additional 18,657 shares in the last quarter. Harvest Investment Advisors LLC lifted its holdings in Genuine Parts by 1.5% during the 4th quarter. Harvest Investment Advisors LLC now owns 8,869 shares of the specialty retailer’s stock valued at $1,228,000 after purchasing an additional 133 shares during the last quarter. Mezzasalma Advisors LLC boosted its holdings in shares of Genuine Parts by 497.0% in the 1st quarter. Mezzasalma Advisors LLC now owns 12,035 shares of the specialty retailer’s stock worth $1,865,000 after acquiring an additional 10,019 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Genuine Parts by 137.9% in the first quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock worth $3,560,000 after purchasing an additional 13,330 shares in the last quarter. Finally, Hennessy Advisors Inc. acquired a new stake in Genuine Parts in the 1st quarter valued at about $3,083,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GPC. Truist Financial restated a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a report on Wednesday, August 28th. UBS Group lowered their target price on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Evercore ISI lowered their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research report on Wednesday, July 24th. The Goldman Sachs Group dropped their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, Wedbush dropped their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Genuine Parts presently has an average rating of “Hold” and an average price target of $161.14.

Genuine Parts Trading Down 0.2 %

Shares of Genuine Parts stock opened at $141.24 on Monday. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $19.67 billion, a price-to-earnings ratio of 15.75 and a beta of 0.90. The firm’s 50-day moving average price is $139.60 and its two-hundred day moving average price is $144.81. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC) last released 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 business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the business earned $2.44 earnings per share. On average, analysts forecast that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.83%. Genuine Parts’s dividend payout ratio is currently 44.59%.

Genuine Parts Company Profile

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.