Cetera Investment Advisers Sells 10,842 Shares of Genuine Parts (NYSE:GPC)

Cetera Investment Advisers lessened its holdings in Genuine Parts (NYSE:GPC) by 6.9% during the second quarter, HoldingsChannel.com reports. The firm owned 146,837 shares of the specialty retailer’s stock after selling 10,842 shares during the period. Cetera Investment Advisers’ holdings in Genuine Parts were worth $20,311,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GPC. Wulff Hansen & CO. grew its holdings in shares of Genuine Parts by 13,732.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after acquiring an additional 1,555,149 shares in the last quarter. DAVENPORT & Co LLC grew its stake in Genuine Parts by 3,029.9% in the first quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock valued at $58,999,000 after purchasing an additional 368,470 shares in the last quarter. Natixis increased its position in shares of Genuine Parts by 768.4% during the 1st quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock worth $49,014,000 after purchasing an additional 279,930 shares during the last quarter. Anchor Capital Advisors LLC raised its stake in shares of Genuine Parts by 1,457.3% during the 1st quarter. Anchor Capital Advisors LLC now owns 269,961 shares of the specialty retailer’s stock worth $41,825,000 after purchasing an additional 252,626 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Genuine Parts by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after buying an additional 239,858 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GPC. Wedbush dropped their price target on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. UBS Group dropped 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. Truist Financial reiterated a “buy” rating and set a $164.00 price target on shares of Genuine Parts in a report on Wednesday, August 28th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Finally, The Goldman Sachs Group reduced their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and an average price target of $161.14.

Genuine Parts Stock Down 1.6 %

Genuine Parts stock opened at $136.57 on Friday. The company’s 50-day moving average price is $139.73 and its two-hundred day moving average price is $144.59. 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 stock has a market cap of $19.02 billion, a P/E ratio of 15.23 and a beta of 0.90. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $164.45.

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

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.93%. Genuine Parts’s payout ratio is presently 44.59%.

Genuine Parts 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.