Genuine Parts (NYSE:GPC) Stock Position Lessened by M&G Plc

M&G Plc reduced its stake in shares of Genuine Parts (NYSE:GPC) by 7.4% during the third quarter, Holdings Channel.com reports. The firm owned 6,547 shares of the specialty retailer’s stock after selling 524 shares during the period. M&G Plc’s holdings in Genuine Parts were worth $917,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Concord Wealth Partners boosted its holdings in shares of Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 119 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. Catalyst Capital Advisors LLC bought a new stake in shares of Genuine Parts in the 3rd quarter worth $44,000. Rosenberg Matthew Hamilton lifted its holdings in shares of Genuine Parts by 92.2% in the second quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer’s stock valued at $50,000 after buying an additional 178 shares during the period. Finally, Armstrong Advisory Group Inc. boosted its stake in Genuine Parts by 63.8% during the third quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 141 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

GPC opened at $122.41 on Friday. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $17.02 billion, a P/E ratio of 15.75 and a beta of 0.92. The stock has a fifty day moving average of $132.47 and a 200-day moving average of $139.74.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $2.49 EPS. Equities analysts forecast that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders 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 yield of 3.27%. Genuine Parts’s payout ratio is 51.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Evercore ISI raised their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group cut their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, Truist Financial decreased their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.