Genuine Parts (NYSE:GPC) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC trimmed its stake in shares of Genuine Parts (NYSE:GPC) by 5.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,750 shares of the specialty retailer’s stock after selling 150 shares during the period. Lmcg Investments LLC’s holdings in Genuine Parts were worth $380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wulff Hansen & CO. lifted its stake in Genuine Parts by 13,732.0% during the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after buying an additional 1,555,149 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Genuine Parts in the 2nd quarter valued at approximately $10,900,000. Citizens Financial Group Inc. RI boosted its stake in Genuine Parts by 12.3% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 3,685 shares of the specialty retailer’s stock worth $513,000 after purchasing an additional 404 shares during the period. Quantbot Technologies LP purchased a new position in Genuine Parts during the 2nd quarter worth approximately $3,961,000. Finally, Sierra Summit Advisors LLC raised its stake in Genuine Parts by 21.2% during the 2nd quarter. Sierra Summit Advisors LLC now owns 3,626 shares of the specialty retailer’s stock valued at $502,000 after purchasing an additional 634 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on GPC. Truist Financial reaffirmed a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a research report on Wednesday, August 28th. The Goldman Sachs Group lowered their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Wedbush decreased their price target on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, UBS Group cut their target price on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Stock Performance

GPC stock opened at $137.28 on Wednesday. The firm has a 50 day moving average of $139.47 and a two-hundred day moving average of $145.59. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45. The company has a market capitalization of $19.12 billion, a price-to-earnings ratio of 15.30 and a beta of 0.90. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter in the prior year, the company posted $2.44 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts anticipate that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s payout ratio is 44.59%.

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.