GSA Capital Partners LLP Decreases Position in Genuine Parts (NYSE:GPC)

GSA Capital Partners LLP cut its stake in Genuine Parts (NYSE:GPC) by 87.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,651 shares of the specialty retailer’s stock after selling 24,602 shares during the quarter. GSA Capital Partners LLP’s holdings in Genuine Parts were worth $510,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nations Financial Group Inc. IA ADV lifted its stake in Genuine Parts by 17.5% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 3,444 shares of the specialty retailer’s stock valued at $481,000 after buying an additional 512 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Genuine Parts by 4.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 8,424 shares of the specialty retailer’s stock valued at $1,177,000 after buying an additional 326 shares in the last quarter. Delta Financial Advisors LLC lifted its stake in Genuine Parts by 10.2% in the 3rd quarter. Delta Financial Advisors LLC now owns 12,206 shares of the specialty retailer’s stock valued at $1,705,000 after buying an additional 1,127 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Genuine Parts in the 3rd quarter valued at about $26,000. Finally, Jensen Investment Management Inc. lifted its stake in Genuine Parts by 13.7% in the 3rd quarter. Jensen Investment Management Inc. now owns 48,430 shares of the specialty retailer’s stock valued at $6,765,000 after buying an additional 5,840 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 2.4 %

Shares of NYSE GPC opened at $121.26 on Wednesday. The company has a 50 day simple moving average of $130.25 and a 200-day simple moving average of $137.83. The company has a market capitalization of $16.86 billion, a P/E ratio of 15.61 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC) last posted 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). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same quarter last year, the business posted $2.49 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts predict that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.30%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Analysts Set New Price Targets

A number of analysts have commented on GPC shares. Truist Financial cut their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. The Goldman Sachs Group cut their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI increased their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Finally, Wedbush cut their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $139.57.

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.