Genuine Parts (NYSE:GPC) Stock Position Reduced by Lmcg Investments LLC

Lmcg Investments LLC trimmed its position in Genuine Parts (NYSE:GPC) by 5.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,750 shares of the specialty retailer’s stock after selling 150 shares during the quarter. Lmcg Investments LLC’s holdings in Genuine Parts were worth $380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GPC. Stifel Financial Corp increased its stake in Genuine Parts by 27.0% during the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after purchasing an additional 431,623 shares during the last quarter. Comerica Bank raised its stake in Genuine Parts by 19.6% during the first quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock worth $17,609,000 after acquiring an additional 18,657 shares during the period. Harvest Investment Advisors LLC lifted its holdings in Genuine Parts by 1.5% in the fourth quarter. Harvest Investment Advisors LLC now owns 8,869 shares of the specialty retailer’s stock worth $1,228,000 after acquiring an additional 133 shares during the last quarter. Mezzasalma Advisors LLC boosted its stake in Genuine Parts by 497.0% in the first quarter. Mezzasalma Advisors LLC now owns 12,035 shares of the specialty retailer’s stock valued at $1,865,000 after acquiring an additional 10,019 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of Genuine Parts by 137.9% during the first quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock valued at $3,560,000 after purchasing an additional 13,330 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GPC. Wedbush cut their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. Evercore ISI cut their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. UBS Group decreased their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Finally, Truist Financial restated a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a research report on Wednesday, August 28th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Stock Performance

GPC opened at $137.28 on Wednesday. The business has a 50 day moving average price of $139.47 and a two-hundred day moving average price of $145.59. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The company has a market capitalization of $19.12 billion, a price-to-earnings 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.

Genuine Parts (NYSE:GPC) last announced its earnings results 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). The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.44 EPS. Research analysts predict that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a $1.00 dividend. The ex-dividend date is 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%.

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.