Genuine Parts (NYSE:GPC) Holdings Lifted by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its holdings in shares of Genuine Parts (NYSE:GPC) by 17.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,793 shares of the specialty retailer’s stock after buying an additional 1,737 shares during the period. Sequoia Financial Advisors LLC’s holdings in Genuine Parts were worth $1,647,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in GPC. Wellington Management Group LLP grew its stake in shares of Genuine Parts by 726.9% in the fourth quarter. Wellington Management Group LLP now owns 54,742 shares of the specialty retailer’s stock worth $7,582,000 after purchasing an additional 48,122 shares in the last quarter. Sunbelt Securities Inc. grew its position in Genuine Parts by 255.5% in the 1st quarter. Sunbelt Securities Inc. now owns 647 shares of the specialty retailer’s stock valued at $100,000 after buying an additional 465 shares in the last quarter. Wealthcare Advisory Partners LLC raised its position in shares of Genuine Parts by 11.9% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 13,418 shares of the specialty retailer’s stock worth $2,079,000 after buying an additional 1,426 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Genuine Parts by 5.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 48,019 shares of the specialty retailer’s stock worth $7,440,000 after buying an additional 2,548 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its stake in shares of Genuine Parts by 3.3% in the 1st quarter. 180 Wealth Advisors LLC now owns 3,037 shares of the specialty retailer’s stock worth $471,000 after acquiring an additional 98 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on GPC shares. Evercore ISI boosted their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. UBS Group decreased their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday. Wedbush dropped their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Truist Financial reduced their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Trading Down 2.7 %

NYSE:GPC opened at $113.11 on Friday. The stock has a fifty day simple moving average of $137.72 and a 200 day simple moving average of $142.43. The firm has a market capitalization of $15.76 billion, a price-to-earnings ratio of 12.61 and a beta of 0.90. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the previous year, the business earned $2.49 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Sell-side analysts forecast that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s payout ratio is 44.59%.

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.