Genuine Parts (NYSE:GPC) Holdings Lifted by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC increased its position in shares of Genuine Parts (NYSE:GPC) by 4.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,498 shares of the specialty retailer’s stock after acquiring an additional 439 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Genuine Parts were worth $1,311,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Assetmark Inc. grew its stake in shares of Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 96 shares during the last quarter. WD Rutherford LLC bought a new stake in Genuine Parts during the first quarter worth approximately $26,000. Union Savings Bank grew its position in Genuine Parts by 100.0% in the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after buying an additional 100 shares during the last quarter. Thompson Investment Management Inc. bought a new position in shares of Genuine Parts in the first quarter valued at $35,000. Finally, Stephens Consulting LLC lifted its position 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 during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GPC has been the topic of a number of recent analyst reports. Evercore ISI cut their target price on 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. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. UBS Group dropped their target price 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. The Goldman Sachs Group reduced their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a research note on Wednesday, August 28th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Stock Performance

GPC stock opened at $137.02 on Monday. The firm has a 50 day simple moving average of $139.73 and a 200 day simple moving average of $145.26. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45. The stock has a market cap of $19.09 billion, a P/E ratio of 15.28 and a beta of 0.90. 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 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 net margin of 5.24% and a return on equity of 30.03%. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same period last year, the business earned $2.44 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. Research analysts anticipate 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 will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s payout ratio is currently 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.