My Legacy Advisors LLC Sells 784 Shares of Genuine Parts (NYSE:GPC)

My Legacy Advisors LLC reduced its stake in Genuine Parts (NYSE:GPC) by 17.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,829 shares of the specialty retailer’s stock after selling 784 shares during the period. My Legacy Advisors LLC’s holdings in Genuine Parts were worth $535,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in Genuine Parts by 726.9% in the fourth quarter. Wellington Management Group LLP now owns 54,742 shares of the specialty retailer’s stock valued at $7,582,000 after buying an additional 48,122 shares during the period. Fisher Asset Management LLC increased its holdings in Genuine Parts by 4.6% during the fourth quarter. Fisher Asset Management LLC now owns 2,355 shares of the specialty retailer’s stock worth $326,000 after buying an additional 103 shares during the last quarter. RFG Advisory LLC purchased a new position in Genuine Parts in the first quarter valued at approximately $225,000. Gateway Investment Advisers LLC boosted its position in Genuine Parts by 1.6% during the first quarter. Gateway Investment Advisers LLC now owns 114,539 shares of the specialty retailer’s stock worth $17,746,000 after purchasing an additional 1,789 shares during the period. Finally, Riverview Trust Co purchased a new position in Genuine Parts in the 1st quarter valued at approximately $120,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Down 19.7 %

Genuine Parts stock traded down $28.22 during midday trading on Tuesday, reaching $114.90. The company’s stock had a trading volume of 4,331,293 shares, compared to its average volume of 975,213. The business has a 50-day simple moving average of $139.12 and a 200-day simple moving average of $143.08. Genuine Parts has a fifty-two week low of $113.93 and a fifty-two week 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. The company has a market cap of $16.01 billion, a P/E ratio of 12.83 and a beta of 0.90.

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

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Analyst Ratings Changes

GPC has been the topic of a number of recent analyst reports. Wedbush lowered their target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Truist Financial reaffirmed a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a research note on Wednesday, August 28th. The Goldman Sachs Group lowered their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Evercore ISI lifted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday. Finally, StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $159.00.

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.