Genuine Parts (NYSE:GPC) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors cut its holdings in shares of Genuine Parts (NYSE:GPC) by 7.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,541 shares of the specialty retailer’s stock after selling 2,527 shares during the period. Captrust Financial Advisors’ holdings in Genuine Parts were worth $4,126,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in Genuine Parts by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,743,970 shares of the specialty retailer’s stock valued at $383,511,000 after purchasing an additional 30,354 shares during the last quarter. Wulff Hansen & CO. lifted its position in shares of Genuine Parts by 13,732.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after acquiring an additional 1,555,149 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Genuine Parts by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after acquiring an additional 239,858 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Genuine Parts by 29.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock valued at $135,579,000 after acquiring an additional 223,712 shares in the last quarter. Finally, Hamlin Capital Management LLC lifted its position in shares of Genuine Parts by 12.3% in the 3rd quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer’s stock valued at $82,561,000 after acquiring an additional 64,520 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

Shares of GPC opened at $127.38 on Wednesday. The company’s fifty day moving average is $128.22 and its 200-day moving average is $135.96. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The firm has a market cap of $17.71 billion, a price-to-earnings ratio of 16.39 and a beta of 0.94. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last announced its quarterly 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 27.23% and a net margin of 4.67%. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter last year, the company earned $2.49 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.14%. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

Wall Street Analyst Weigh In

GPC has been the subject of several research analyst reports. Evercore ISI upped their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Wedbush reduced their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Truist Financial reduced their price target 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, October 23rd. Finally, UBS Group dropped their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $139.57.

Genuine Parts 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.