Delphi Management Inc. MA Makes New $1.40 Million Investment in Genuine Parts (NYSE:GPC)

Delphi Management Inc. MA bought a new position in Genuine Parts (NYSE:GPC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,131 shares of the specialty retailer’s stock, valued at approximately $1,401,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GPC. Wulff Hansen & CO. grew its position in 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 last quarter. DAVENPORT & Co LLC lifted its stake in shares of Genuine Parts by 3,029.9% in the 1st quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock worth $58,999,000 after acquiring an additional 368,470 shares during the period. Morningstar Investment Services LLC lifted its stake in shares of Genuine Parts by 161.2% in 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. Natixis lifted its stake 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 during the period. Finally, Anchor Capital Advisors LLC lifted its stake in shares of Genuine Parts by 1,457.3% in the 1st quarter. Anchor Capital Advisors LLC now owns 269,961 shares of the specialty retailer’s stock worth $41,825,000 after acquiring an additional 252,626 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 1.1 %

GPC stock opened at $139.68 on Tuesday. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $164.45. The company’s 50 day simple moving average is $139.62 and its 200-day simple moving average is $144.73. 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 firm has a market capitalization of $19.46 billion, a P/E ratio of 15.57 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. 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 prior year, the firm earned $2.44 EPS. The firm’s revenue was up .8% compared to the same quarter last year. As a group, equities research analysts anticipate that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.86%. Genuine Parts’s dividend payout ratio is currently 44.59%.

Wall Street Analyst Weigh In

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

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.