U.S. Capital Wealth Advisors LLC Raises Position in Genuine Parts (NYSE:GPC)

U.S. Capital Wealth Advisors LLC grew its position in shares of Genuine Parts (NYSE:GPC) by 6.8% during the third quarter, Holdings Channel reports. The fund owned 81,034 shares of the specialty retailer’s stock after purchasing an additional 5,156 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Genuine Parts were worth $11,319,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in Genuine Parts by 726.9% during the fourth 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 period. Fisher Asset Management LLC increased its stake in shares of Genuine Parts by 4.6% during the fourth quarter. Fisher Asset Management LLC now owns 2,355 shares of the specialty retailer’s stock valued at $326,000 after purchasing an additional 103 shares in the last quarter. RFG Advisory LLC purchased a new position in shares of Genuine Parts during the first quarter valued at approximately $225,000. Thompson Investment Management Inc. bought a new stake in shares of Genuine Parts in the 1st quarter worth approximately $35,000. Finally, Sunbelt Securities Inc. grew its stake in shares of Genuine Parts by 255.5% in the 1st quarter. Sunbelt Securities Inc. now owns 647 shares of the specialty retailer’s stock worth $100,000 after buying an additional 465 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

GPC traded up $3.09 during mid-day trading on Wednesday, reaching $116.20. 1,047,678 shares of the company traded hands, compared to its average volume of 987,691. The stock has a market capitalization of $16.19 billion, a P/E ratio of 12.86 and a beta of 0.90. Genuine Parts has a 52-week low of $112.74 and a 52-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 fifty day moving average price is $138.64 and its 200-day moving average price is $142.82.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter in the prior year, the firm earned $2.49 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, sell-side analysts expect that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 3.44%. Genuine Parts’s payout ratio is presently 44.59%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GPC. Evercore ISI lifted their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday. UBS Group lowered their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday. Truist Financial reissued a “buy” rating and set a $164.00 price objective on shares of Genuine Parts in a research report on Wednesday, August 28th. JPMorgan Chase & Co. decreased their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $144.57.

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.