Capital Investment Advisors LLC Has $2.31 Million Holdings in Genuine Parts (NYSE:GPC)

Capital Investment Advisors LLC lifted its position in shares of Genuine Parts (NYSE:GPC) by 0.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,519 shares of the specialty retailer’s stock after purchasing an additional 131 shares during the quarter. Capital Investment Advisors LLC’s holdings in Genuine Parts were worth $2,307,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GPC. Wulff Hansen & CO. lifted its stake in shares of Genuine Parts by 13,732.0% in the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after buying an additional 1,555,149 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in 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. boosted its stake in Genuine Parts by 29.6% during 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 purchasing an additional 223,712 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Genuine Parts by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 544,579 shares of the specialty retailer’s stock worth $75,326,000 after purchasing an additional 13,753 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC raised its stake in shares of Genuine Parts by 49.2% in the second quarter. Sugarloaf Wealth Management LLC now owns 467,048 shares of the specialty retailer’s stock worth $673,000 after purchasing an additional 153,981 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

GPC has been the topic of several analyst reports. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday. Wedbush reduced their target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Truist Financial reiterated a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a report on Wednesday, August 28th. UBS Group reduced their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Genuine Parts from $157.00 to $162.00 and gave the stock an “overweight” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Genuine Parts has a consensus rating of “Hold” and a consensus target price of $157.29.

Genuine Parts Stock Performance

Shares of GPC stock opened at $143.17 on Friday. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45. The firm’s 50-day simple moving average is $138.97 and its two-hundred day simple moving average is $143.19. The firm has a market cap of $19.94 billion, a price-to-earnings ratio of 15.96 and a beta of 0.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The firm had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. During the same quarter in the previous year, the company posted $2.44 EPS. Genuine Parts’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts forecast that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

About Genuine Parts

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.