Raymond James & Associates Has $57.72 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Raymond James & Associates grew its position in Genuine Parts (NYSE:GPC) by 11.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 413,206 shares of the specialty retailer’s stock after purchasing an additional 42,184 shares during the period. Raymond James & Associates’ holdings in Genuine Parts were worth $57,717,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GPC. WD Rutherford LLC bought a new position in Genuine Parts in the first quarter valued at about $26,000. Stephens Consulting LLC boosted its stake in shares of Genuine Parts by 740.7% in the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. Thompson Investment Management Inc. acquired a new stake in shares of Genuine Parts during the 1st quarter worth approximately $35,000. Manchester Capital Management LLC raised its stake in shares of Genuine Parts by 36.1% during the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after buying an additional 66 shares during the last quarter. Finally, Triad Wealth Partners LLC acquired a new position in Genuine Parts in the second quarter valued at approximately $40,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

GPC stock opened at $143.14 on Tuesday. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. The business’s 50-day moving average price is $138.97 and its two-hundred day moving average price is $143.12. The firm has a market cap of $19.94 billion, a PE ratio of 15.96 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter last year, the firm earned $2.44 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts forecast that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s payout ratio is currently 44.59%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Truist Financial reaffirmed a “buy” rating and set a $164.00 price objective on shares of Genuine Parts in a research note on Wednesday, August 28th. Wedbush cut their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. UBS Group decreased their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Finally, The Goldman Sachs Group lowered their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $157.29.

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.