Optimist Retirement Group LLC Increases Holdings in Genuine Parts (NYSE:GPC)

Optimist Retirement Group LLC increased its holdings in shares of Genuine Parts (NYSE:GPC) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,464 shares of the specialty retailer’s stock after purchasing an additional 394 shares during the quarter. Optimist Retirement Group LLC’s holdings in Genuine Parts were worth $1,724,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Miramar Capital LLC grew its holdings in Genuine Parts by 0.3% during the 2nd quarter. Miramar Capital LLC now owns 79,957 shares of the specialty retailer’s stock valued at $11,060,000 after buying an additional 223 shares in the last quarter. Blair William & Co. IL grew its stake in Genuine Parts by 8.0% during the second quarter. Blair William & Co. IL now owns 10,624 shares of the specialty retailer’s stock valued at $1,470,000 after acquiring an additional 785 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Genuine Parts by 4.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,498 shares of the specialty retailer’s stock valued at $1,311,000 after acquiring an additional 439 shares during the last quarter. Amalgamated Bank lifted its stake in Genuine Parts by 26.9% in the 2nd quarter. Amalgamated Bank now owns 36,809 shares of the specialty retailer’s stock worth $5,091,000 after purchasing an additional 7,799 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Genuine Parts during the 2nd quarter valued at about $1,582,000. Institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GPC. Wedbush reduced their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Evercore ISI reduced their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 24th. Truist Financial reaffirmed a “buy” rating and set a $164.00 price objective on shares of Genuine Parts in a report on Wednesday, August 28th. The Goldman Sachs Group cut their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, UBS Group decreased their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Price Performance

Shares of Genuine Parts stock opened at $138.08 on Thursday. The stock has a market cap of $19.23 billion, a price-to-earnings ratio of 15.39 and a beta of 0.90. 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 stock has a 50 day moving average price of $139.59 and a 200-day moving average price of $145.51. Genuine Parts has a one year low of $126.35 and a one year high of $164.45.

Genuine Parts (NYSE:GPC) last posted 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). 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 analysts’ expectations of $6.03 billion. During the same period in the previous year, the firm earned $2.44 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts expect that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Announces Dividend

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

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.