Koshinski Asset Management Inc. Purchases New Position in Genuine Parts (NYSE:GPC)

Koshinski Asset Management Inc. purchased a new stake in Genuine Parts (NYSE:GPC) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,445 shares of the specialty retailer’s stock, valued at approximately $202,000.

Other large investors have also recently added to or reduced their stakes in the company. CHICAGO TRUST Co NA grew its stake in shares of Genuine Parts by 20.0% during the third quarter. CHICAGO TRUST Co NA now owns 1,999 shares of the specialty retailer’s stock valued at $279,000 after acquiring an additional 333 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Genuine Parts by 284.4% during the third quarter. Exchange Traded Concepts LLC now owns 1,999 shares of the specialty retailer’s stock valued at $279,000 after acquiring an additional 1,479 shares in the last quarter. Gateway Investment Advisers LLC grew its stake in shares of Genuine Parts by 1.0% during the third quarter. Gateway Investment Advisers LLC now owns 113,795 shares of the specialty retailer’s stock valued at $15,895,000 after acquiring an additional 1,075 shares in the last quarter. Code Waechter LLC acquired a new stake in shares of Genuine Parts during the third quarter valued at about $238,000. Finally, Fiduciary Financial Group LLC grew its stake in shares of Genuine Parts by 9.8% during the third quarter. Fiduciary Financial Group LLC now owns 2,514 shares of the specialty retailer’s stock valued at $336,000 after acquiring an additional 225 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $140.41 on Wednesday. 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 firm’s 50-day moving average price is $138.63 and its two-hundred day moving average price is $143.34. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $164.45. The stock has a market capitalization of $19.56 billion, a P/E ratio of 15.65 and a beta of 0.90.

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

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders 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 yield of 2.85%. Genuine Parts’s dividend payout ratio is currently 44.59%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GPC. The Goldman Sachs Group lowered 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. Truist Financial restated a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a research note on Wednesday, August 28th. Evercore ISI reduced their price target on shares of 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. Wedbush reduced 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. Finally, UBS Group reduced their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Genuine Parts has an average rating of “Hold” and a consensus price target of $161.14.

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.