Texas Capital Bank Wealth Management Services Inc Takes $338,000 Position in Genuine Parts (NYSE:GPC)

Texas Capital Bank Wealth Management Services Inc bought a new stake in Genuine Parts (NYSE:GPC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,417 shares of the specialty retailer’s stock, valued at approximately $338,000.

Several other hedge funds have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Genuine Parts during the 3rd quarter worth about $26,000. Capital Performance Advisors LLP acquired a new stake in Genuine Parts during the 3rd quarter worth about $31,000. Concord Wealth Partners grew its position in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares during the period. Triad Wealth Partners LLC acquired a new stake in Genuine Parts during the 2nd quarter worth about $40,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Genuine Parts during the 3rd quarter worth about $44,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Down 0.1 %

GPC stock opened at $123.46 on Friday. The firm has a market cap of $17.17 billion, a PE ratio of 15.89 and a beta of 0.94. 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 firm’s 50 day moving average price is $127.03 and its 200-day moving average price is $135.44. Genuine Parts has a one year low of $112.74 and a one year high of $164.45.

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

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.24%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Analysts Set New Price Targets

GPC has been the topic of a number of analyst reports. UBS Group dropped their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. The Goldman Sachs Group dropped their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Truist Financial decreased their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and a consensus price target of $139.57.

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.