Prime Capital Investment Advisors LLC Lowers Holdings in Genuine Parts (NYSE:GPC)

Prime Capital Investment Advisors LLC cut its stake in Genuine Parts (NYSE:GPC) by 20.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,370 shares of the specialty retailer’s stock after selling 1,158 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Genuine Parts were worth $610,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wulff Hansen & CO. raised its position in shares of Genuine Parts by 13,732.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after buying an additional 1,555,149 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Genuine Parts by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after purchasing an additional 239,858 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of Genuine Parts by 29.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock worth $135,579,000 after purchasing an additional 223,712 shares during the period. Hamlin Capital Management LLC increased its position in Genuine Parts by 12.3% during the 3rd quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer’s stock worth $82,561,000 after purchasing an additional 64,520 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after buying an additional 580,262 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of GPC stock opened at $122.62 on Friday. The stock has a market capitalization of $17.05 billion, a price-to-earnings ratio of 15.78 and a beta of 0.92. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company’s 50-day simple moving average is $130.79 and its 200-day simple moving average is $138.57. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

Genuine Parts (NYSE:GPC) last issued its 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 during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. Genuine Parts’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.49 EPS. Equities analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.26%. Genuine Parts’s payout ratio is currently 51.48%.

Wall Street Analysts Forecast Growth

GPC has been the subject of several research reports. Wedbush decreased their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. The Goldman Sachs Group decreased their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Truist Financial reduced their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus 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.