Blake Schutter Theil Wealth Advisors LLC Acquires New Holdings in Genuine Parts (NYSE:GPC)

Blake Schutter Theil Wealth Advisors LLC bought a new position in Genuine Parts (NYSE:GPC) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,118 shares of the specialty retailer’s stock, valued at approximately $296,000.

Other hedge funds have also added to or reduced their stakes in the company. Wulff Hansen & CO. lifted its holdings in Genuine Parts by 13,732.0% in 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 during the period. 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 worth $81,621,000 after purchasing an additional 580,262 shares during the period. Boston Trust Walden Corp purchased a new position in shares of Genuine Parts in the third quarter worth approximately $39,474,000. Natixis grew its position in Genuine Parts by 768.4% during the first quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock valued at $49,014,000 after buying an additional 279,930 shares during the period. Finally, Anchor Capital Advisors LLC increased its holdings in Genuine Parts by 1,457.3% during the first quarter. Anchor Capital Advisors LLC now owns 269,961 shares of the specialty retailer’s stock valued at $41,825,000 after buying an additional 252,626 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GPC shares. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. The Goldman Sachs Group decreased their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI increased their target price 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. Finally, Truist Financial lowered their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Trading Down 0.2 %

Genuine Parts stock opened at $123.06 on Friday. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The firm’s 50 day moving average price is $132.89 and its 200-day moving average price is $140.18. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The stock has a market cap of $17.11 billion, a P/E ratio of 15.84 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last announced 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 net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter in the prior year, the firm posted $2.49 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts predict that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.25%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio is presently 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.