Telos Capital Management Inc. Grows Stock Holdings in Genuine Parts (NYSE:GPC)

Telos Capital Management Inc. raised its position in shares of Genuine Parts (NYSE:GPCFree Report) by 5.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,621 shares of the specialty retailer’s stock after buying an additional 1,724 shares during the quarter. Telos Capital Management Inc.’s holdings in Genuine Parts were worth $4,999,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Daiwa Securities Group Inc. lifted its position in shares of Genuine Parts by 12.3% during the third quarter. Daiwa Securities Group Inc. now owns 13,070 shares of the specialty retailer’s stock valued at $1,887,000 after buying an additional 1,435 shares during the last quarter. JLB & Associates Inc. purchased a new position in shares of Genuine Parts in the 3rd quarter valued at approximately $1,539,000. New Mexico Educational Retirement Board raised its position in shares of Genuine Parts by 7.3% in the 3rd quarter. New Mexico Educational Retirement Board now owns 7,321 shares of the specialty retailer’s stock valued at $1,057,000 after purchasing an additional 500 shares during the last quarter. Alaska Permanent Fund Corp raised its position in shares of Genuine Parts by 0.8% in the 3rd quarter. Alaska Permanent Fund Corp now owns 52,024 shares of the specialty retailer’s stock valued at $7,511,000 after purchasing an additional 416 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of Genuine Parts by 8.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 135,261 shares of the specialty retailer’s stock valued at $19,529,000 after purchasing an additional 10,650 shares during the last quarter. 77.51% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 1.3 %

NYSE GPC opened at $137.96 on Thursday. The business’s fifty day simple moving average is $137.14 and its 200-day simple moving average is $145.59. The firm has a market cap of $19.34 billion, a PE ratio of 15.61, a P/E/G ratio of 1.53 and a beta of 0.93. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $181.37. The company has a quick ratio of 0.58, a current ratio of 1.16 and a debt-to-equity ratio of 0.71.

Genuine Parts (NYSE:GPCGet Free Report) last issued its quarterly earnings data on Thursday, October 19th. The specialty retailer reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.07. Genuine Parts had a return on equity of 32.22% and a net margin of 5.44%. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the previous year, the business earned $2.23 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities analysts anticipate that Genuine Parts will post 9.28 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Thursday, November 30th. Genuine Parts’s dividend payout ratio is currently 42.99%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GPC shares. Truist Financial cut their price target on shares of Genuine Parts from $172.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, October 20th. JPMorgan Chase & Co. increased their price target on shares of Genuine Parts from $184.00 to $189.00 and gave the stock an “overweight” rating in a report on Monday, October 16th. Wedbush cut their price target on shares of Genuine Parts from $160.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, October 20th. The Goldman Sachs Group cut their price target on shares of Genuine Parts from $178.00 to $152.00 and set a “neutral” rating on the stock in a report on Friday, October 20th. Finally, StockNews.com started coverage on shares of Genuine Parts in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Genuine Parts has a consensus rating of “Moderate Buy” and a consensus target price of $168.11.

Get Our Latest Stock Report on GPC

Genuine Parts Profile

(Free Report)

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.

See Also

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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