Leisure Capital Management Buys 276 Shares of Genuine Parts (NYSE:GPC)

Leisure Capital Management grew its stake in Genuine Parts (NYSE:GPC) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,805 shares of the specialty retailer’s stock after purchasing an additional 276 shares during the period. Leisure Capital Management’s holdings in Genuine Parts were worth $1,230,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Quarry LP grew its position in Genuine Parts by 138.7% during the 4th quarter. Quarry LP now owns 284 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 165 shares during the last quarter. Virtu Financial LLC bought a new position in Genuine Parts in the 4th quarter valued at $494,000. Wellington Management Group LLP boosted its position in Genuine Parts by 726.9% in the 4th quarter. Wellington Management Group LLP now owns 54,742 shares of the specialty retailer’s stock valued at $7,582,000 after buying an additional 48,122 shares during the last quarter. Fisher Asset Management LLC boosted its position in Genuine Parts by 4.6% in the 4th quarter. Fisher Asset Management LLC now owns 2,355 shares of the specialty retailer’s stock valued at $326,000 after buying an additional 103 shares during the last quarter. Finally, HighPoint Advisor Group LLC bought a new position in Genuine Parts in the 4th quarter valued at $276,000. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Truist Financial reiterated a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a research report on Wednesday, August 28th. UBS Group decreased their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday. The Goldman Sachs Group cut their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, 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 research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Genuine Parts has a consensus rating of “Hold” and a consensus target price of $161.14.

Genuine Parts Trading Up 2.1 %

Genuine Parts stock traded up $2.93 during mid-day trading on Wednesday, hitting $143.34. 187,196 shares of the company’s stock were exchanged, compared to its average volume of 956,930. The firm has a market capitalization of $19.97 billion, a P/E ratio of 15.65 and a beta of 0.90. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The company’s 50 day simple moving average is $138.63 and its 200-day simple moving average is $143.34.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (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 analyst estimates of $6.03 billion. During the same period in the prior year, the business earned $2.44 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Dividend Announcement

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

Genuine Parts Company 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.