BNP Paribas Financial Markets Acquires 90,731 Shares of Genuine Parts (NYSE:GPC)

BNP Paribas Financial Markets lifted its holdings in shares of Genuine Parts (NYSE:GPC) by 72.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 215,644 shares of the specialty retailer’s stock after acquiring an additional 90,731 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.16% of Genuine Parts worth $30,121,000 as of its most recent filing with the Securities & Exchange Commission.

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

Genuine Parts Stock Down 0.1 %

NYSE:GPC opened at $126.77 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The firm has a market cap of $17.63 billion, a P/E ratio of 16.31 and a beta of 0.92. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The firm has a 50-day simple moving average of $128.63 and a two-hundred day simple moving average of $136.63.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter in the previous year, the firm earned $2.49 earnings per share. Genuine Parts’s revenue was up 3.0% on a year-over-year basis. Analysts predict that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.16%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Analysts Set New Price Targets

A number of research firms have weighed in on GPC. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. UBS Group dropped their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Truist Financial decreased their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Wedbush dropped their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $139.57.

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.