Brooklyn Investment Group Takes Position in Genuine Parts (NYSE:GPC)

Brooklyn Investment Group purchased a new position in shares of Genuine Parts (NYSE:GPC) during the third quarter, Holdings Channel.com reports. The fund purchased 710 shares of the specialty retailer’s stock, valued at approximately $99,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Genuine Parts by 0.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 192,927 shares of the specialty retailer’s stock valued at $29,891,000 after purchasing an additional 1,127 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Genuine Parts by 70.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 12,537 shares of the specialty retailer’s stock valued at $1,822,000 after buying an additional 5,198 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Genuine Parts by 1.0% during the 1st quarter. California State Teachers Retirement System now owns 229,176 shares of the specialty retailer’s stock worth $35,506,000 after buying an additional 2,328 shares during the period. Tidal Investments LLC lifted its position in shares of Genuine Parts by 63.8% during the 1st quarter. Tidal Investments LLC now owns 11,866 shares of the specialty retailer’s stock valued at $1,838,000 after buying an additional 4,620 shares in the last quarter. Finally, Comerica Bank grew its stake in Genuine Parts by 19.6% in the 1st quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock valued at $17,609,000 after acquiring an additional 18,657 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. The Goldman Sachs Group cut their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Evercore ISI boosted their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Finally, UBS Group dropped their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Stock Down 0.8 %

NYSE GPC opened at $126.87 on Thursday. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The business’s fifty day simple moving average is $129.10 and its 200-day simple moving average is $136.76. The firm has a market cap of $17.64 billion, a PE ratio of 16.33 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.49 earnings per share. As a group, equities analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

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 given a $1.00 dividend. The ex-dividend date 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 is currently 51.48%.

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.