Continuum Advisory LLC Acquires 205 Shares of Genuine Parts (NYSE:GPC)

Continuum Advisory LLC lifted its stake in Genuine Parts (NYSE:GPC) by 5.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,941 shares of the specialty retailer’s stock after buying an additional 205 shares during the period. Continuum Advisory LLC’s holdings in Genuine Parts were worth $550,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GPC. State Street Corp lifted its holdings in Genuine Parts by 5.4% during the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock valued at $1,103,300,000 after purchasing an additional 401,180 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Genuine Parts by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,743,970 shares of the specialty retailer’s stock valued at $383,511,000 after purchasing an additional 30,354 shares in the last quarter. Stifel Financial Corp raised its position in Genuine Parts by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock valued at $287,405,000 after purchasing an additional 25,015 shares during the last quarter. Wulff Hansen & CO. boosted its stake 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings 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 worth $189,296,000 after purchasing an additional 239,858 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on GPC. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. The Goldman Sachs Group reduced their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Truist Financial reduced their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, UBS Group lowered their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Stock Up 2.0 %

Shares of Genuine Parts stock opened at $125.93 on Tuesday. The business has a fifty day simple moving average of $126.76 and a 200 day simple moving average of $135.08. The stock has a market cap of $17.51 billion, a PE ratio of 16.21 and a beta of 0.94. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The firm had revenue of $6 billion for 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 firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.49 EPS. Research analysts predict that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.18%. Genuine Parts’s payout ratio is 51.48%.

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.