MBB Public Markets I LLC Makes New $1.24 Million Investment in Genuine Parts (NYSE:GPC)

MBB Public Markets I LLC purchased a new position in shares of Genuine Parts (NYSE:GPC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,933 shares of the specialty retailer’s stock, valued at approximately $1,236,000.

A number of other institutional investors have also modified their holdings of GPC. WD Rutherford LLC acquired a new stake in Genuine Parts during the 1st quarter worth approximately $26,000. Union Savings Bank increased its position in shares of Genuine Parts by 100.0% during the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 100 shares during the period. Thompson Investment Management Inc. purchased a new position in Genuine Parts in the first quarter valued at $35,000. Stephens Consulting LLC grew its stake in Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 200 shares in the last quarter. Finally, Quarry LP increased its holdings in Genuine Parts by 138.7% during the 4th quarter. Quarry LP now owns 284 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 165 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Trading Down 1.1 %

NYSE GPC opened at $139.68 on Tuesday. The firm’s fifty day moving average price is $139.62 and its 200 day moving average price is $144.73. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The company has a market capitalization of $19.46 billion, a price-to-earnings ratio of 15.57 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the previous year, the business posted $2.44 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts expect that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s dividend payout ratio is currently 44.59%.

Analyst Ratings Changes

GPC has been the subject of several recent research reports. Evercore ISI decreased their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research note on Wednesday, July 24th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Truist Financial restated a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a report on Wednesday, August 28th. UBS Group lowered their target price on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Finally, The Goldman Sachs Group dropped their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $161.14.

About Genuine Parts

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.