Rogco LP Sells 440 Shares of Genuine Parts (NYSE:GPC)

Rogco LP trimmed its position in Genuine Parts (NYSE:GPC) by 7.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,734 shares of the specialty retailer’s stock after selling 440 shares during the quarter. Rogco LP’s holdings in Genuine Parts were worth $801,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GPC. Wellington Management Group LLP boosted its position in shares of Genuine Parts by 726.9% during the 4th quarter. Wellington Management Group LLP now owns 54,742 shares of the specialty retailer’s stock valued at $7,582,000 after acquiring an additional 48,122 shares during the last quarter. RFG Advisory LLC bought a new position in Genuine Parts during the first quarter valued at $225,000. Sunbelt Securities Inc. grew its stake in shares of Genuine Parts by 255.5% in the 1st quarter. Sunbelt Securities Inc. now owns 647 shares of the specialty retailer’s stock worth $100,000 after buying an additional 465 shares in the last quarter. Wealthcare Advisory Partners LLC increased its holdings in shares of Genuine Parts by 11.9% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 13,418 shares of the specialty retailer’s stock worth $2,079,000 after buying an additional 1,426 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Genuine Parts by 5.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 48,019 shares of the specialty retailer’s stock valued at $7,440,000 after buying an additional 2,548 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GPC shares. Wedbush dropped their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday. Evercore ISI increased their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday. The Goldman Sachs Group cut their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday. Truist Financial decreased their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. decreased 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. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Stock Down 2.0 %

Shares of NYSE GPC traded down $2.29 during midday trading on Thursday, reaching $113.95. 789,221 shares of the company’s stock traded hands, compared to its average volume of 995,081. The company has a market cap of $15.87 billion, a price-to-earnings ratio of 12.96 and a beta of 0.90. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The stock’s 50 day simple moving average is $138.23 and its 200-day simple moving average is $142.63.

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 during the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.49 EPS. On average, analysts predict that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.51%. Genuine Parts’s payout ratio is 44.59%.

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.