Brookstone Capital Management Has $982,000 Stock Holdings in Genuine Parts (NYSE:GPC)

Brookstone Capital Management grew its position in Genuine Parts (NYSE:GPC) by 6.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,029 shares of the specialty retailer’s stock after buying an additional 412 shares during the period. Brookstone Capital Management’s holdings in Genuine Parts were worth $982,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Manchester Capital Management LLC increased its holdings in shares of Genuine Parts by 36.1% in the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 66 shares in the last quarter. North Star Investment Management Corp. increased its stake in Genuine Parts by 8.5% during the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after purchasing an additional 70 shares in the last quarter. CHICAGO TRUST Co NA raised its holdings in Genuine Parts by 3.6% during the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock worth $316,000 after buying an additional 71 shares during the period. First Citizens Bank & Trust Co. lifted its stake in Genuine Parts by 4.9% in the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock valued at $224,000 after buying an additional 75 shares in the last quarter. Finally, HBK Sorce Advisory LLC lifted its stake in Genuine Parts by 1.8% in the first quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock valued at $689,000 after buying an additional 80 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. UBS Group dropped their price objective 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. Wedbush dropped their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Truist Financial reaffirmed a “buy” rating and set a $164.00 price objective on shares of Genuine Parts in a research report on Wednesday, August 28th. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Finally, The Goldman Sachs Group reduced their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $161.14.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $137.24 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The stock has a 50 day moving average price of $138.60 and a 200 day moving average price of $143.63. The stock has a market capitalization of $19.12 billion, a PE ratio of 15.30 and a beta of 0.90. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). The company 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 company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.44 EPS. Analysts predict that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued 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 2.91%. Genuine Parts’s payout ratio is 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.