Gabelli Funds LLC Has $123.82 Million Stock Position in Genuine Parts (NYSE:GPC)

Gabelli Funds LLC lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 895,200 shares of the specialty retailer’s stock after selling 21,800 shares during the period. Genuine Parts accounts for 0.9% of Gabelli Funds LLC’s holdings, making the stock its 13th biggest holding. Gabelli Funds LLC owned about 0.64% of Genuine Parts worth $123,824,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GPC. Wulff Hansen & CO. lifted 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 purchasing an additional 1,555,149 shares during the period. Stifel Financial Corp lifted its holdings in Genuine Parts by 27.0% in the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after buying an additional 431,623 shares during the period. DAVENPORT & Co LLC boosted its position in Genuine Parts by 3,029.9% during the first quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock valued at $58,999,000 after acquiring an additional 368,470 shares during the last quarter. Morningstar Investment Services LLC grew its holdings in Genuine Parts by 161.2% during the 4th quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock worth $80,066,000 after acquiring an additional 357,091 shares during the period. Finally, Natixis raised its position in shares of Genuine Parts by 768.4% in the 1st quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock worth $49,014,000 after acquiring an additional 279,930 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of GPC opened at $137.02 on Friday. The firm has a market capitalization of $19.09 billion, a P/E ratio of 15.28 and a beta of 0.90. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45. The stock has a 50 day moving average price of $139.73 and a two-hundred day moving average price of $145.29. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (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 company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter last year, the company posted $2.44 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts forecast that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Friday, September 6th. Genuine Parts’s payout ratio is currently 44.59%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GPC shares. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. The Goldman Sachs Group dropped their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Truist Financial restated a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a report on Wednesday, August 28th. UBS Group dropped their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Finally, Wedbush reduced their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $161.14.

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.