Quadrature Capital Ltd Decreases Stock Position in Genuine Parts (NYSE:GPC)

Quadrature Capital Ltd lessened its position in shares of Genuine Parts (NYSE:GPC) by 18.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,650 shares of the specialty retailer’s stock after selling 1,500 shares during the period. Quadrature Capital Ltd’s holdings in Genuine Parts were worth $929,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GPC. Charles Schwab Investment Management Inc. increased its holdings in shares of Genuine Parts by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,743,970 shares of the specialty retailer’s stock valued at $383,511,000 after acquiring an additional 30,354 shares during the last quarter. Wulff Hansen & CO. raised its stake in Genuine Parts by 13,732.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after acquiring an additional 1,555,149 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Genuine Parts by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after acquiring an additional 239,858 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in Genuine Parts by 29.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock valued at $135,579,000 after acquiring an additional 223,712 shares in the last quarter. Finally, Hamlin Capital Management LLC grew its holdings in shares of Genuine Parts by 12.3% during the third quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer’s stock worth $82,561,000 after purchasing an additional 64,520 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Trading Down 0.2 %

NYSE GPC opened at $123.42 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. The stock has a market capitalization of $17.16 billion, a P/E ratio of 15.88 and a beta of 0.94. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The firm has a 50-day moving average price of $127.03 and a 200 day moving average price of $135.32.

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 the consensus estimate 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 earned $2.49 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts expect that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.24%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GPC. Truist Financial decreased their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Wedbush cut their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI lifted their price objective 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. Finally, Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $139.57.

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.