Kingsview Wealth Management LLC Purchases 565 Shares of Genuine Parts (NYSE:GPC)

Kingsview Wealth Management LLC lifted its holdings in Genuine Parts (NYSE:GPC) by 18.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,658 shares of the specialty retailer’s stock after acquiring an additional 565 shares during the period. Kingsview Wealth Management LLC’s holdings in Genuine Parts were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wulff Hansen & CO. grew its holdings in 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 worth $216,675,000 after purchasing an additional 1,555,149 shares during the period. International Assets Investment Management LLC grew 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 valued at $81,621,000 after buying an additional 580,262 shares during the period. Boston Trust Walden Corp bought a new stake in Genuine Parts in the 3rd quarter valued at about $39,474,000. Dimensional Fund Advisors LP raised its stake in 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 worth $189,296,000 after buying an additional 239,858 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in 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 worth $135,579,000 after acquiring an additional 223,712 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Down 0.8 %

Genuine Parts stock opened at $126.87 on Friday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. 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’s 50-day simple moving average is $128.88 and its 200 day simple moving average is $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 (NYSE:GPC) last released 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). The business had revenue of $6 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the company earned $2.49 earnings per share. Research analysts predict that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. UBS Group decreased their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group decreased their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, Evercore ISI lifted their price target on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.