Charles Schwab Investment Management Inc. Acquires 30,354 Shares of Genuine Parts (NYSE:GPC)

Charles Schwab Investment Management Inc. grew its holdings in Genuine Parts (NYSE:GPC) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,743,970 shares of the specialty retailer’s stock after purchasing an additional 30,354 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.97% of Genuine Parts worth $383,511,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Blackhawk Capital Partners LLC. lifted its holdings in Genuine Parts by 19.8% during the 3rd quarter. Blackhawk Capital Partners LLC. now owns 8,140 shares of the specialty retailer’s stock worth $1,137,000 after purchasing an additional 1,347 shares in the last quarter. Integrated Investment Consultants LLC purchased a new position in shares of Genuine Parts during the 3rd quarter valued at about $2,105,000. Tradewinds LLC. lifted its holdings in shares of Genuine Parts by 6.8% in the 3rd quarter. Tradewinds LLC. now owns 2,530 shares of the specialty retailer’s stock worth $353,000 after acquiring an additional 162 shares during the last quarter. King Luther Capital Management Corp increased its holdings in shares of Genuine Parts by 1.3% in the third quarter. King Luther Capital Management Corp now owns 9,808 shares of the specialty retailer’s stock worth $1,370,000 after buying an additional 122 shares during the period. Finally, Citizens Financial Group Inc. RI grew its holdings in shares of Genuine Parts by 2.8% in the third quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock worth $533,000 after purchasing an additional 103 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wedbush dropped their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Evercore ISI upped their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Truist Financial lowered their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reduced their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $124.78 on Friday. The company has a 50 day simple moving average of $129.44 and a two-hundred day simple moving average of $137.38. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a market capitalization of $17.35 billion, a price-to-earnings ratio of 16.06 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

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). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same period last year, the business earned $2.49 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is 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.