2,534 Shares in Genuine Parts (NYSE:GPC) Purchased by Qsemble Capital Management LP

Qsemble Capital Management LP purchased a new position in shares of Genuine Parts (NYSE:GPC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,534 shares of the specialty retailer’s stock, valued at approximately $354,000.

Other hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Genuine Parts during the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP purchased a new stake in Genuine Parts during the 3rd quarter valued at about $31,000. Concord Wealth Partners grew its stake in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 119 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in Genuine Parts during the 2nd quarter valued at about $40,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Genuine Parts during the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on GPC shares. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. dropped their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Wedbush dropped their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. The Goldman Sachs Group dropped their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, Truist Financial dropped their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Genuine Parts currently has an average rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Stock Performance

NYSE:GPC opened at $126.87 on Thursday. 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 stock has a market capitalization of $17.64 billion, a P/E ratio of 16.33 and a beta of 0.92. The company has a 50 day moving average price of $129.10 and a 200 day moving average price of $136.76. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.49 EPS. Equities research analysts forecast that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Announces Dividend

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 issued a dividend of $1.00 per share. 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 3.15%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Genuine Parts 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.