FORA Capital LLC Invests $720,000 in Genuine Parts (NYSE:GPC)

FORA Capital LLC acquired a new stake in Genuine Parts (NYSE:GPC) during the third quarter, Holdings Channel reports. The firm acquired 5,154 shares of the specialty retailer’s stock, valued at approximately $720,000.

Several other institutional investors have also added to or reduced their stakes in GPC. Ashton Thomas Securities LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new stake in Genuine Parts during the 3rd quarter valued at $31,000. Concord Wealth Partners lifted its position in shares of Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 119 shares in the last quarter. Triad Wealth Partners LLC bought a new position in shares of Genuine Parts in the second quarter worth $40,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Genuine Parts in the third quarter valued at $44,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on GPC. 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 report on Wednesday, October 23rd. The Goldman Sachs Group lowered their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Wedbush reduced their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI boosted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Genuine Parts has a consensus rating of “Hold” and an average target price of $139.57.

Genuine Parts Price Performance

GPC stock opened at $126.87 on Friday. The firm has a 50 day simple moving average of $128.88 and a two-hundred day simple moving average of $136.69. The stock has a market cap of $17.64 billion, a PE ratio of 16.33 and a beta of 0.92. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. 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 (NYSE:GPC) last announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter last year, the firm posted $2.49 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. On average, analysts predict that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 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.