Commerzbank Aktiengesellschaft FI Buys New Stake in Genuine Parts (NYSE:GPC)

Commerzbank Aktiengesellschaft FI bought a new stake in shares of Genuine Parts (NYSE:GPC) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 6,044 shares of the specialty retailer’s stock, valued at approximately $845,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GPC. WD Rutherford LLC acquired a new position in shares of Genuine Parts during the 1st quarter valued at $26,000. Stephens Consulting LLC lifted its holdings in shares of Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 200 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in shares of Genuine Parts by 36.1% during the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 66 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in shares of Genuine Parts during the 2nd quarter valued at $40,000. Finally, Rosenberg Matthew Hamilton lifted its holdings in shares of Genuine Parts by 92.2% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer’s stock valued at $50,000 after acquiring an additional 178 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Price Performance

GPC opened at $116.24 on Thursday. The company has a 50-day moving average of $138.64 and a 200-day moving average of $142.82. The company has a market capitalization of $16.19 billion, a P/E ratio of 12.96 and a beta of 0.90. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same period in the prior year, the company earned $2.49 EPS. Genuine Parts’s quarterly revenue was up 3.0% on a year-over-year basis. Equities analysts expect that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio is presently 44.59%.

Wall Street Analysts Forecast Growth

GPC has been the topic of several analyst reports. Truist Financial dropped their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday. The Goldman Sachs Group dropped their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday. UBS Group dropped their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Wedbush dropped their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and a consensus target price of $139.57.

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.