CVA Family Office LLC Sells 126 Shares of Genuine Parts (NYSE:GPC)

CVA Family Office LLC decreased its position in Genuine Parts (NYSE:GPC) by 12.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 900 shares of the specialty retailer’s stock after selling 126 shares during the period. CVA Family Office LLC’s holdings in Genuine Parts were worth $126,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GPC. WD Rutherford LLC bought a new stake in shares of Genuine Parts in the first quarter worth about $26,000. Thompson Investment Management Inc. bought a new stake in Genuine Parts during the 1st quarter worth approximately $35,000. Stephens Consulting LLC raised its holdings in Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after buying an additional 200 shares during the period. Bruce G. Allen Investments LLC lifted its stake in Genuine Parts by 149.0% in the first quarter. Bruce G. Allen Investments LLC now owns 254 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 152 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of Genuine Parts by 138.7% in the fourth quarter. Quarry LP now owns 284 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 165 shares during the period. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on GPC. Wedbush cut their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Evercore ISI dropped their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research report on Wednesday, July 24th. Truist Financial restated a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a research note on Wednesday, August 28th. UBS Group decreased their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Finally, The Goldman Sachs Group cut their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Price Performance

NYSE:GPC opened at $137.24 on Monday. The stock has a market capitalization of $19.12 billion, a PE ratio of 15.30 and a beta of 0.90. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. The firm has a fifty day simple moving average of $138.60 and a 200 day simple moving average of $143.55. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66.

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

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.91%. Genuine Parts’s dividend payout ratio is currently 44.59%.

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.