Exchange Traded Concepts LLC Buys 1,479 Shares of Genuine Parts (NYSE:GPC)

Exchange Traded Concepts LLC raised its holdings in Genuine Parts (NYSE:GPC) by 284.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,999 shares of the specialty retailer’s stock after acquiring an additional 1,479 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Genuine Parts were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. WD Rutherford LLC bought a new position in Genuine Parts in the 1st quarter valued at $26,000. Thompson Investment Management Inc. bought a new position in Genuine Parts in the 1st quarter valued at $35,000. Stephens Consulting LLC grew its position in 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 acquiring an additional 200 shares during the last quarter. Manchester Capital Management LLC grew its position in Genuine Parts by 36.1% in the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 66 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new position in Genuine Parts in the 2nd quarter valued at $40,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Down 0.3 %

Shares of NYSE GPC opened at $143.17 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The stock has a market capitalization of $19.94 billion, a P/E ratio of 15.96 and a beta of 0.90. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. The business has a fifty day moving average price of $138.97 and a 200 day moving average price of $143.19.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $2.44 earnings per share. Equities research analysts expect 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 was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

Wall Street Analyst Weigh In

GPC has been the subject of several research reports. UBS Group lowered their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Wedbush lowered their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Evercore ISI lowered their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. Truist Financial reiterated a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a report on Wednesday, August 28th. Finally, StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and a consensus price target of $157.29.

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.