Financial Counselors Inc. Lowers Holdings in Genuine Parts (NYSE:GPC)

Financial Counselors Inc. lowered its position in shares of Genuine Parts (NYSE:GPC) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,980 shares of the specialty retailer’s stock after selling 551 shares during the period. Financial Counselors Inc.’s holdings in Genuine Parts were worth $2,566,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in GPC. Kingsview Wealth Management LLC lifted its stake in shares of Genuine Parts by 18.3% during the 3rd quarter. Kingsview Wealth Management LLC now owns 3,658 shares of the specialty retailer’s stock worth $511,000 after purchasing an additional 565 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Genuine Parts by 12.9% during the third quarter. Daiwa Securities Group Inc. now owns 20,238 shares of the specialty retailer’s stock valued at $2,827,000 after buying an additional 2,312 shares during the last quarter. Qsemble Capital Management LP bought a new stake in shares of Genuine Parts in the 3rd quarter valued at about $354,000. D.A. Davidson & CO. grew its position in shares of Genuine Parts by 5.8% in the 3rd quarter. D.A. Davidson & CO. now owns 47,141 shares of the specialty retailer’s stock worth $6,585,000 after buying an additional 2,581 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Genuine Parts during the 3rd quarter worth approximately $99,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Trading Up 1.8 %

Shares of NYSE:GPC opened at $120.54 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The business has a 50 day moving average of $121.13 and a two-hundred day moving average of $124.28. The company has a market capitalization of $16.73 billion, a PE ratio of 18.63 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the prior year, the firm posted $2.26 EPS. As a group, analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a yield of 3.42%. Genuine Parts’s dividend payout ratio is currently 63.68%.

Analysts Set New Price Targets

Several brokerages have weighed in on GPC. Loop Capital began coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. Evercore ISI dropped their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, Truist Financial boosted their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $137.63.

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.