Genuine Parts (NYSE:GPC) Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC boosted its position in Genuine Parts (NYSE:GPC) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,477 shares of the specialty retailer’s stock after purchasing an additional 85 shares during the quarter. Metis Global Partners LLC’s holdings in Genuine Parts were worth $625,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Genuine Parts in the third quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new stake in Genuine Parts in the 3rd quarter valued at about $31,000. Concord Wealth Partners lifted its stake in Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in shares of Genuine Parts during the 2nd quarter worth approximately $40,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Genuine Parts in the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GPC. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Evercore ISI upped their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Truist Financial reduced their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group cut their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $139.57.

Genuine Parts Stock Performance

Shares of GPC stock opened at $122.62 on Monday. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The firm’s 50 day moving average price is $130.79 and its 200-day moving average price is $138.31. The firm has a market cap of $17.05 billion, a P/E ratio of 15.78 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last released 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). The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.49 earnings per share. As a group, equities research analysts predict that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s payout ratio is 51.48%.

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.