Paragon Advisors LLC acquired a new position in Genuine Parts Company (NYSE:GPC – Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,333 shares of the specialty retailer’s stock, valued at approximately $2,305,000.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Focus Financial Network Inc. boosted its holdings in shares of Genuine Parts by 2.9% during the 3rd quarter. Focus Financial Network Inc. now owns 2,725 shares of the specialty retailer’s stock worth $346,000 after buying an additional 77 shares during the period. North Dakota State Investment Board raised its holdings in Genuine Parts by 2.0% in the 3rd quarter. North Dakota State Investment Board now owns 4,208 shares of the specialty retailer’s stock worth $529,000 after acquiring an additional 83 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC raised its holdings in Genuine Parts by 4.9% in the 3rd quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 1,799 shares of the specialty retailer’s stock worth $226,000 after acquiring an additional 84 shares during the period. Beacon Investment Advisory Services Inc. raised its holdings in Genuine Parts by 13.8% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 727 shares of the specialty retailer’s stock worth $86,000 after acquiring an additional 88 shares during the period. Finally, C2C Wealth Management LLC lifted its position in Genuine Parts by 3.8% during the 3rd quarter. C2C Wealth Management LLC now owns 2,750 shares of the specialty retailer’s stock worth $346,000 after acquiring an additional 100 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.
Genuine Parts Price Performance
NYSE:GPC opened at $122.79 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.22 and a quick ratio of 0.54. Genuine Parts Company has a one year low of $90.78 and a one year high of $151.57. The company has a fifty day moving average price of $128.88 and a 200 day moving average price of $120.01. The stock has a market cap of $16.93 billion, a P/E ratio of 491.16, a PEG ratio of 2.69 and a beta of 0.65.
Genuine Parts (NYSE:GPC – Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The specialty retailer reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.03. Genuine Parts had a net margin of 0.12% and a return on equity of 23.00%. The company had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.49 billion. During the same period last year, the business posted $1.98 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Analysts anticipate that Genuine Parts Company will post 7.62 earnings per share for the current year.
Genuine Parts Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 4th were given a dividend of $1.0625 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $4.25 dividend on an annualized basis and a yield of 3.5%. Genuine Parts’s dividend payout ratio (DPR) is 1,700.00%.
Analyst Ratings Changes
A number of equities research analysts have issued reports on GPC shares. JPMorgan Chase & Co. upped their price target on shares of Genuine Parts from $125.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, October 12th. Evercore reiterated an “outperform” rating on shares of Genuine Parts in a research note on Wednesday, July 22nd. The Goldman Sachs Group set a $122.00 price objective on Genuine Parts in a research note on Tuesday, October 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Genuine Parts in a research report on Monday, September 21st. Finally, Truist Financial raised their target price on Genuine Parts from $126.00 to $131.00 and gave the company a “hold” rating in a report on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.00.
Check Out Our Latest Analysis on Genuine Parts
Genuine Parts Profile
Genuine Parts Company is a distributor of automotive replacement parts and industrial products. Founded in 1928 and headquartered in Atlanta, Georgia, the company serves businesses and consumers through its distribution networks and brands.
Its automotive business distributes replacement parts, accessories and related products, including through the NAPA Auto Parts brand. Its industrial business, operating primarily as Motion, supplies products such as bearings, power-transmission components, fluid-power equipment and other maintenance and repair items to industrial customers.
Genuine Parts serves customers across North America and in international markets, including Europe and Australasia.
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