Foster & Motley Inc. Has $260,000 Stock Holdings in Genuine Parts (NYSE:GPC)

Foster & Motley Inc. cut its holdings in Genuine Parts (NYSE:GPC) by 13.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,879 shares of the specialty retailer’s stock after selling 286 shares during the quarter. Foster & Motley Inc.’s holdings in Genuine Parts were worth $260,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. WD Rutherford LLC acquired a new position in shares of Genuine Parts in the 1st quarter valued at approximately $26,000. Assetmark Inc. grew its position in shares of Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 96 shares during the period. Union Savings Bank grew its position in shares of Genuine Parts by 100.0% in the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 100 shares during the period. Thompson Investment Management Inc. acquired a new position in shares of Genuine Parts in the 1st quarter valued at approximately $35,000. Finally, Stephens Consulting LLC grew its position in shares of Genuine Parts by 740.7% in the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 200 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GPC has been the subject of several research analyst reports. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Saturday. Wedbush reduced their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Truist Financial reaffirmed a “buy” rating and set a $164.00 price target on shares of Genuine Parts in a research report on Wednesday, August 28th. UBS Group reduced their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Finally, The Goldman Sachs Group reduced their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and an average price target of $161.14.

Genuine Parts Trading Down 2.1 %

NYSE GPC opened at $134.39 on Friday. The company has a market cap of $18.72 billion, a PE ratio of 14.98 and a beta of 0.92. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45. The stock has a 50 day moving average of $139.14 and a 200-day moving average of $146.10.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.44 EPS. On average, equities research analysts anticipate that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s payout ratio is presently 44.59%.

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.