Rogco LP Sells 440 Shares of Genuine Parts (NYSE:GPC)

Rogco LP decreased its stake in shares of Genuine Parts (NYSE:GPC) by 7.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,734 shares of the specialty retailer’s stock after selling 440 shares during the period. Rogco LP’s holdings in Genuine Parts were worth $801,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. WD Rutherford LLC bought a new stake in shares of Genuine Parts during the first quarter valued at approximately $26,000. Stephens Consulting LLC grew its holdings in Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 200 shares during the period. Manchester Capital Management LLC grew its holdings in Genuine Parts by 36.1% in the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares during the period. Triad Wealth Partners LLC bought a new position in shares of Genuine Parts during the second quarter valued at approximately $40,000. Finally, Armstrong Advisory Group Inc. boosted its position in shares of Genuine Parts by 63.8% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

GPC traded down $2.29 during midday trading on Thursday, reaching $113.95. The company had a trading volume of 789,221 shares, compared to its average volume of 995,081. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a market cap of $15.87 billion, a P/E ratio of 12.96 and a beta of 0.90. The business has a 50-day moving average of $138.23 and a two-hundred day moving average of $142.63.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. Genuine Parts’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.49 earnings per share. As a group, equities research analysts predict that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Evercore ISI raised their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday. UBS Group dropped their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday. The Goldman Sachs Group dropped their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Truist Financial reduced their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $139.57.

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.