Daiwa Securities Group Inc. Acquires 2,312 Shares of Genuine Parts (NYSE:GPC)

Daiwa Securities Group Inc. boosted its holdings in shares of Genuine Parts (NYSE:GPC) by 12.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,238 shares of the specialty retailer’s stock after acquiring an additional 2,312 shares during the period. Daiwa Securities Group Inc.’s holdings in Genuine Parts were worth $2,827,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Ashton Thomas Securities LLC bought a new stake in shares of Genuine Parts in the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new stake in shares of Genuine Parts in the third quarter worth $31,000. Concord Wealth Partners increased its holdings in shares of Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 119 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in shares of Genuine Parts in the 2nd quarter worth about $40,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Genuine Parts during the 3rd quarter valued at about $44,000. Institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GPC shares. Truist Financial cut 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. Wedbush reduced their target price 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 increased their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. UBS Group decreased their target price 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. Finally, Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Stock Performance

GPC opened at $126.87 on Thursday. The company’s 50 day moving average is $129.10 and its 200 day moving average is $136.76. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The company has a market cap of $17.64 billion, a price-to-earnings ratio of 16.33 and a beta of 0.92. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data 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 business had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same period in the previous year, the firm earned $2.49 EPS. The company’s revenue was up 3.0% on a year-over-year basis. On average, equities research analysts predict that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) 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.