Thrivent Financial for Lutherans Decreases Stake in Genuine Parts (NYSE:GPC)

Thrivent Financial for Lutherans lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,971 shares of the specialty retailer’s stock after selling 1,622 shares during the period. Thrivent Financial for Lutherans’ holdings in Genuine Parts were worth $4,885,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wulff Hansen & CO. increased its holdings in shares of Genuine Parts by 13,732.0% in the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after purchasing an additional 1,555,149 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Genuine Parts by 14,222.1% in the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock worth $81,621,000 after acquiring an additional 580,262 shares during the last quarter. Boston Trust Walden Corp purchased a new position in shares of Genuine Parts during the 3rd quarter worth $39,474,000. Dimensional Fund Advisors LP boosted its position in shares of Genuine Parts by 21.3% during 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 acquiring an additional 239,858 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of Genuine Parts by 29.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock valued at $135,579,000 after purchasing an additional 223,712 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Trading Up 1.7 %

GPC opened at $124.80 on Friday. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The firm has a market cap of $17.35 billion, a P/E ratio of 16.06 and a beta of 0.92. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The business has a fifty day simple moving average of $129.44 and a 200-day simple moving average of $137.26.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share 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 analyst estimates of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.49 earnings per share. On average, equities analysts expect that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 yield of 3.21%. The ex-dividend date is Friday, December 6th. Genuine Parts’s payout ratio is currently 51.48%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GPC. Truist Financial decreased their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Evercore ISI lifted their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. Wedbush decreased their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. cut their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $139.57.

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.