Quest Partners LLC Buys 4,095 Shares of Genuine Parts (NYSE:GPC)

Quest Partners LLC increased its stake in shares of Genuine Parts (NYSE:GPC) by 409,500.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 4,096 shares of the specialty retailer’s stock after purchasing an additional 4,095 shares during the quarter. Quest Partners LLC’s holdings in Genuine Parts were worth $567,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. BNP Paribas Financial Markets grew its holdings in shares of Genuine Parts by 22.0% in the fourth quarter. BNP Paribas Financial Markets now owns 148,121 shares of the specialty retailer’s stock worth $20,515,000 after purchasing an additional 26,710 shares during the last quarter. Stifel Financial Corp increased its holdings in Genuine Parts by 27.0% during the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after purchasing an additional 431,623 shares during the period. Comerica Bank raised its position in Genuine Parts by 19.6% during the 1st quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock valued at $17,609,000 after purchasing an additional 18,657 shares during the last quarter. Harvest Investment Advisors LLC lifted its holdings in Genuine Parts by 1.5% in the 4th quarter. Harvest Investment Advisors LLC now owns 8,869 shares of the specialty retailer’s stock worth $1,228,000 after buying an additional 133 shares during the period. Finally, Mezzasalma Advisors LLC grew its position in shares of Genuine Parts by 497.0% in the 1st quarter. Mezzasalma Advisors LLC now owns 12,035 shares of the specialty retailer’s stock worth $1,865,000 after buying an additional 10,019 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Trading Down 0.5 %

Genuine Parts stock opened at $135.05 on Thursday. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45. The company has a market capitalization of $18.81 billion, a price-to-earnings ratio of 15.06 and a beta of 0.90. The business’s fifty day simple moving average is $139.23 and its two-hundred day simple moving average is $145.90. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.44 EPS. As a group, equities analysts predict that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 2.96%. Genuine Parts’s dividend payout ratio is 44.59%.

Analyst Ratings Changes

A number of brokerages recently commented on GPC. Wedbush dropped their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Evercore ISI dropped their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. Truist Financial reiterated a “buy” rating and set a $164.00 price target on shares of Genuine Parts in a research report on Wednesday, August 28th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Finally, The Goldman Sachs Group lowered their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and a consensus price target of $161.14.

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.