Townsquare Capital LLC Boosts Stock Position in Genuine Parts (NYSE:GPC)

Townsquare Capital LLC raised its stake in shares of Genuine Parts (NYSE:GPC) by 0.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,881 shares of the specialty retailer’s stock after buying an additional 115 shares during the quarter. Townsquare Capital LLC’s holdings in Genuine Parts were worth $3,894,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wulff Hansen & CO. grew its position in Genuine Parts by 13,732.0% during the 2nd 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 lifted its stake in shares of Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock worth $81,621,000 after buying an additional 580,262 shares in the last quarter. Boston Trust Walden Corp purchased a new stake in shares of Genuine Parts during the third quarter valued at approximately $39,474,000. Dimensional Fund Advisors LP increased its position in shares of Genuine Parts by 21.3% during the second 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 in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in 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 worth $135,579,000 after acquiring an additional 223,712 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $126.77 on Friday. The firm’s 50 day moving average price is $128.63 and its 200-day moving average price is $136.63. 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 stock has a market capitalization of $17.63 billion, a PE ratio of 16.32 and a beta of 0.92. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly 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). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter in the previous year, the business posted $2.49 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. Equities research analysts expect that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Announces Dividend

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

Analysts Set New Price Targets

GPC has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Wedbush reduced their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Evercore ISI raised their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Finally, StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.