CreativeOne Wealth LLC Buys New Holdings in Genuine Parts (NYSE:GPC)

CreativeOne Wealth LLC purchased a new position in shares of Genuine Parts (NYSE:GPC) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,440 shares of the specialty retailer’s stock, valued at approximately $620,000.

A number of other institutional investors have also recently bought and sold shares of the business. Tidal Investments LLC lifted its holdings in Genuine Parts by 63.8% during the 1st quarter. Tidal Investments LLC now owns 11,866 shares of the specialty retailer’s stock valued at $1,838,000 after purchasing an additional 4,620 shares during the last quarter. Atria Investments Inc raised its position in shares of Genuine Parts by 107.9% in the first quarter. Atria Investments Inc now owns 19,374 shares of the specialty retailer’s stock valued at $3,002,000 after purchasing an additional 10,055 shares during the period. Burney Co. lifted its stake in shares of Genuine Parts by 2.5% during the 1st quarter. Burney Co. now owns 4,080 shares of the specialty retailer’s stock worth $632,000 after buying an additional 100 shares during the last quarter. Cetera Advisors LLC boosted its holdings in shares of Genuine Parts by 110.9% during the 1st quarter. Cetera Advisors LLC now owns 22,183 shares of the specialty retailer’s stock worth $3,437,000 after buying an additional 11,663 shares during the period. Finally, Transcend Capital Advisors LLC grew its stake in Genuine Parts by 1.4% in the 2nd quarter. Transcend Capital Advisors LLC now owns 9,144 shares of the specialty retailer’s stock valued at $1,265,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the subject of several research reports. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Evercore ISI lifted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. dropped their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group decreased their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Stock Performance

NYSE GPC opened at $126.73 on Friday. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The firm has a market capitalization of $17.62 billion, a price-to-earnings ratio of 16.31 and a beta of 0.92. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The firm’s 50 day simple moving average is $128.43 and its 200 day simple moving average is $136.41.

Genuine Parts (NYSE:GPC) last issued its 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 net margin of 4.67% and a return on equity of 27.23%. The business 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% compared to the same quarter last year. As a group, research analysts expect that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be issued a $1.00 dividend. The ex-dividend date is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.16%. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

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.