TFG Advisers LLC Has $340,000 Position in Genuine Parts (NYSE:GPC)

TFG Advisers LLC lessened its position in Genuine Parts (NYSE:GPC) by 6.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,431 shares of the specialty retailer’s stock after selling 175 shares during the period. TFG Advisers LLC’s holdings in Genuine Parts were worth $340,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Wulff Hansen & CO. increased its holdings in Genuine Parts by 13,732.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after purchasing an additional 1,555,149 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Genuine Parts by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after buying an additional 239,858 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Genuine Parts by 29.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock valued at $135,579,000 after buying an additional 223,712 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Genuine Parts by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 544,579 shares of the specialty retailer’s stock valued at $75,326,000 after buying an additional 13,753 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC grew its position in shares of Genuine Parts by 49.2% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 467,048 shares of the specialty retailer’s stock valued at $673,000 after buying an additional 153,981 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. UBS Group reduced their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Truist Financial reiterated a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research report on Wednesday, August 28th. Evercore ISI upped their price target on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group cut their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $155.14.

Genuine Parts Stock Up 0.8 %

NYSE:GPC traded up $0.96 on Wednesday, hitting $114.07. The stock had a trading volume of 343,563 shares, compared to its average volume of 984,256. The business’s fifty day moving average is $138.64 and its 200 day moving average is $142.82. The company has a market cap of $15.89 billion, a PE ratio of 12.71 and a beta of 0.90. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last announced its quarterly 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). The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.49 EPS. On average, equities research analysts expect that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued 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 3.51%. Genuine Parts’s payout ratio is currently 44.59%.

Genuine Parts 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.