Genuine Parts (NYSE:GPC) Stake Reduced by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC decreased its position in shares of Genuine Parts (NYSE:GPC) by 20.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,370 shares of the specialty retailer’s stock after selling 1,158 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Genuine Parts were worth $610,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of GPC. Empowered Funds LLC boosted its stake in Genuine Parts by 45.9% during the 1st quarter. Empowered Funds LLC now owns 2,472 shares of the specialty retailer’s stock valued at $383,000 after purchasing an additional 778 shares during the period. Kingsview Wealth Management LLC grew its holdings in Genuine Parts by 5.7% in the 1st quarter. Kingsview Wealth Management LLC now owns 3,537 shares of the specialty retailer’s stock worth $548,000 after buying an additional 191 shares in the last quarter. Orion Portfolio Solutions LLC increased its position in Genuine Parts by 707.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 14,691 shares of the specialty retailer’s stock valued at $2,276,000 after acquiring an additional 12,871 shares during the period. Acadian Asset Management LLC boosted its position in Genuine Parts by 137.9% during the 1st quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock worth $3,560,000 after acquiring an additional 13,330 shares during the period. Finally, Jacobi Capital Management LLC grew its stake in shares of Genuine Parts by 1.8% in the first quarter. Jacobi Capital Management LLC now owns 8,864 shares of the specialty retailer’s stock worth $1,373,000 after purchasing an additional 157 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GPC shares. The Goldman Sachs Group decreased their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. UBS Group cut their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Truist Financial dropped their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Finally, Evercore ISI increased their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Seven 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 presently has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Stock Performance

Shares of GPC opened at $122.62 on Friday. The company has a 50-day moving average of $130.79 and a two-hundred day moving average of $138.57. The stock has a market cap of $17.05 billion, a price-to-earnings ratio of 15.78 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a one year low of $112.74 and a one year high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS 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 firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same period in the prior year, the business posted $2.49 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts expect that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio is currently 51.48%.

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.