Consolidated Planning Corp Boosts Stake in Genuine Parts (NYSE:GPC)

Consolidated Planning Corp grew its stake in shares of Genuine Parts (NYSE:GPC) by 31.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,347 shares of the specialty retailer’s stock after buying an additional 1,981 shares during the period. Consolidated Planning Corp’s holdings in Genuine Parts were worth $1,166,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Norden Group LLC purchased a new position in Genuine Parts in the 1st quarter valued at about $390,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Genuine Parts by 21.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,954 shares of the specialty retailer’s stock valued at $4,444,000 after buying an additional 4,997 shares during the period. Nordea Investment Management AB boosted its position in Genuine Parts by 4.4% during the first quarter. Nordea Investment Management AB now owns 9,300 shares of the specialty retailer’s stock worth $1,445,000 after acquiring an additional 392 shares during the last quarter. Csenge Advisory Group grew its stake in Genuine Parts by 2.9% in the 1st quarter. Csenge Advisory Group now owns 3,314 shares of the specialty retailer’s stock worth $513,000 after acquiring an additional 94 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in Genuine Parts by 195.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the specialty retailer’s stock valued at $307,000 after acquiring an additional 1,311 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GPC has been the topic of several analyst reports. Truist Financial decreased their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. UBS Group lowered their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. The Goldman Sachs Group cut their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Finally, Evercore ISI boosted their target price 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. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Trading Down 0.2 %

Shares of GPC stock opened at $123.06 on Friday. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The firm’s 50 day moving average price is $132.89 and its two-hundred day moving average price is $140.18. The stock has a market cap of $17.11 billion, a price-to-earnings ratio of 15.84 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same period last year, the company posted $2.49 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts anticipate that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

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.