Miramar Capital LLC Grows Stake in Genuine Parts (NYSE:GPC)

Miramar Capital LLC boosted its position in shares of Genuine Parts (NYSE:GPC) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 79,957 shares of the specialty retailer’s stock after purchasing an additional 223 shares during the quarter. Genuine Parts makes up 2.8% of Miramar Capital LLC’s portfolio, making the stock its 20th biggest holding. Miramar Capital LLC owned 0.06% of Genuine Parts worth $11,060,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GPC. Assetmark Inc. grew its stake in 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 acquiring an additional 96 shares during the last quarter. WD Rutherford LLC purchased a new position in shares of Genuine Parts during the 1st quarter worth approximately $26,000. Union Savings Bank raised its position in shares of Genuine Parts by 100.0% during the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Thompson Investment Management Inc. purchased a new stake in Genuine Parts in the 1st quarter valued at approximately $35,000. Finally, Stephens Consulting LLC grew its holdings in Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on GPC shares. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Evercore ISI reduced their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. Truist Financial reiterated a “buy” rating and set a $164.00 price target on shares of Genuine Parts in a report on Wednesday, August 28th. Wedbush cut their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Finally, UBS Group decreased their target price on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $161.14.

Genuine Parts Price Performance

Genuine Parts stock opened at $138.08 on Thursday. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The firm has a 50 day moving average price of $139.59 and a 200 day moving average price of $145.51. The company has a market cap of $19.23 billion, a price-to-earnings ratio of 15.39 and a beta of 0.90.

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 analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the previous year, the company earned $2.44 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. Sell-side analysts predict that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Friday, September 6th. Genuine Parts’s dividend payout ratio is currently 44.59%.

Genuine Parts Company 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.