ProShare Advisors LLC lessened its stake in shares of Genuine Parts Company (NYSE:GPC – Free Report) by 51.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,391,614 shares of the specialty retailer’s stock after selling 1,454,540 shares during the period. ProShare Advisors LLC’s holdings in Genuine Parts were worth $174,982,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Focus Financial Network Inc. boosted its stake in 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 purchasing an additional 77 shares during the last quarter. North Dakota State Investment Board boosted its position in shares of Genuine Parts by 2.0% during the 3rd quarter. North Dakota State Investment Board now owns 4,208 shares of the specialty retailer’s stock worth $529,000 after purchasing an additional 83 shares in the last quarter. Beacon Investment Advisory Services Inc. grew its holdings in Genuine Parts by 13.8% during the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 727 shares of the specialty retailer’s stock valued at $86,000 after buying an additional 88 shares during the last quarter. C2C Wealth Management LLC boosted its position in shares of Genuine Parts by 3.8% in the third 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. Finally, Blake Schutter Theil Wealth Advisors LLC grew its position in Genuine Parts by 3.2% in the first quarter. Blake Schutter Theil Wealth Advisors LLC now owns 3,319 shares of the specialty retailer’s stock valued at $351,000 after acquiring an additional 103 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.
Genuine Parts Trading Down 1.3%
NYSE GPC opened at $120.76 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.22 and a quick ratio of 0.54. The firm’s fifty day moving average price is $130.10 and its 200 day moving average price is $120.25. Genuine Parts Company has a 12 month low of $90.78 and a 12 month high of $151.57. The company has a market capitalization of $16.65 billion, a price-to-earnings ratio of 483.04, a price-to-earnings-growth ratio of 2.65 and a beta of 0.67.
Genuine Parts (NYSE:GPC – Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The specialty retailer reported $2.07 EPS for the quarter, topping the consensus estimate of $2.04 by $0.03. Genuine Parts had a return on equity of 23.00% and a net margin of 0.12%. The company had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.49 billion. During the same period in the prior year, the firm posted $1.98 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts expect that Genuine Parts Company will post 7.62 earnings per share for the current fiscal year.
Genuine Parts Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 4th were given a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, September 4th. Genuine Parts’s payout ratio is 1,700.00%.
Analysts Set New Price Targets
Several analysts recently commented on the stock. Truist Financial increased their target price on shares of Genuine Parts from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Tuesday, October 20th. Raymond James Financial reissued a “strong-buy” rating and issued a $165.00 price objective on shares of Genuine Parts in a report on Wednesday, July 22nd. Evercore restated an “outperform” rating on shares of Genuine Parts in a report on Wednesday, July 22nd. Argus decreased their price target on shares of Genuine Parts from $156.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Finally, UBS Group boosted their price target on shares of Genuine Parts from $122.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.
Get Our Latest Stock Analysis on GPC
Genuine Parts Profile
Genuine Parts Company (NYSE:GPC) is a distributor of automotive and industrial replacement parts. Its Automotive Parts Group supplies components and accessories for cars, trucks and other vehicles, serving professional repair shops, commercial customers and do-it-yourself consumers through distribution networks, stores and digital channels.
The company’s Industrial Parts Group distributes products used to maintain and repair manufacturing, commercial and other industrial equipment. Its offerings include bearings, power-transmission components, motion-control products, industrial supplies and related maintenance, repair and operations products.
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