Genuine Parts (NYSE:GPC) Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. increased its stake in shares of Genuine Parts (NYSE:GPC) by 1.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 706,245 shares of the specialty retailer’s stock after purchasing an additional 10,362 shares during the period. Bessemer Group Inc. owned 0.50% of Genuine Parts worth $119,518,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GPC. Exchange Traded Concepts LLC boosted its stake in shares of Genuine Parts by 110.8% in the second quarter. Exchange Traded Concepts LLC now owns 156 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 82 shares during the last quarter. Ten Capital Wealth Advisors LLC lifted its holdings in Genuine Parts by 1,308.3% in the 1st quarter. Ten Capital Wealth Advisors LLC now owns 169 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 157 shares in the last quarter. Salem Investment Counselors Inc. boosted its stake in Genuine Parts by 42.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 200 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 60 shares during the last quarter. Compass Wealth Management LLC purchased a new stake in shares of Genuine Parts during the fourth quarter worth $35,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Genuine Parts by 175.0% in the second quarter. EverSource Wealth Advisors LLC now owns 220 shares of the specialty retailer’s stock valued at $37,000 after buying an additional 140 shares during the last quarter. 77.51% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 0.0 %

Shares of GPC opened at $137.37 on Tuesday. The company’s 50-day moving average price is $140.02 and its 200 day moving average price is $152.72. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $187.73. The company has a current ratio of 1.16, a quick ratio of 0.58 and a debt-to-equity ratio of 0.71. The firm has a market cap of $19.26 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 1.57 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, October 19th. The specialty retailer reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.07. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.93 billion. Genuine Parts had a net margin of 5.44% and a return on equity of 32.22%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.23 EPS. On average, sell-side analysts forecast that Genuine Parts will post 9.28 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be paid a $0.95 dividend. The ex-dividend date is Thursday, November 30th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.77%. Genuine Parts’s payout ratio is presently 42.99%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Evercore ISI boosted their price target on shares of Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a research report on Friday, September 8th. StockNews.com started coverage on Genuine Parts in a report on Thursday, October 5th. They issued a “buy” rating for the company. The Goldman Sachs Group reduced their price objective on Genuine Parts from $178.00 to $152.00 and set a “neutral” rating on the stock in a research report on Friday, October 20th. Wedbush cut their target price on Genuine Parts from $160.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, October 20th. Finally, Truist Financial lowered their price target on shares of Genuine Parts from $172.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, October 20th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $168.11.

About Genuine Parts

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.