Benedict Financial Advisors Inc. Purchases 261 Shares of Genuine Parts (NYSE:GPC)

Benedict Financial Advisors Inc. boosted its stake in shares of Genuine Parts (NYSE:GPC) by 2.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,543 shares of the specialty retailer’s stock after buying an additional 261 shares during the quarter. Benedict Financial Advisors Inc.’s holdings in Genuine Parts were worth $1,333,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Wulff Hansen & CO. increased its holdings in shares of 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 acquiring an additional 1,555,149 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Genuine Parts by 14,222.1% in the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after purchasing an additional 580,262 shares during the period. DAVENPORT & Co LLC boosted its stake in shares of Genuine Parts by 3,029.9% during the 1st quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock worth $58,999,000 after acquiring an additional 368,470 shares in the last quarter. Natixis grew its holdings in Genuine Parts by 768.4% in the first quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock valued at $49,014,000 after purchasing an additional 279,930 shares during the period. Finally, Anchor Capital Advisors LLC increased its holdings in Genuine Parts by 1,457.3% in the 1st quarter. Anchor Capital Advisors LLC now owns 269,961 shares of the specialty retailer’s stock worth $41,825,000 after acquiring an additional 252,626 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

NYSE GPC traded up $1.13 during trading on Friday, reaching $114.24. The company’s stock had a trading volume of 2,138,120 shares, compared to its average volume of 1,074,868. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The firm has a market cap of $15.92 billion, a price-to-earnings ratio of 14.71 and a beta of 0.90. The business’s fifty day moving average price is $137.22 and its 200-day moving average price is $142.18. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.54 and a current ratio of 1.17.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results 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). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter last year, the firm earned $2.49 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts anticipate that Genuine Parts will post 8.1 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.50%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

Analyst Upgrades and Downgrades

GPC has been the subject of several research reports. The Goldman Sachs Group dropped their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. 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. Truist Financial dropped 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. Finally, UBS Group lowered their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and a consensus price target of $139.57.

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.