waypoint wealth counsel Lowers Holdings in Genuine Parts (NYSE:GPC)

waypoint wealth counsel lowered its holdings in Genuine Parts (NYSE:GPC) by 3.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,368 shares of the specialty retailer’s stock after selling 88 shares during the quarter. waypoint wealth counsel’s holdings in Genuine Parts were worth $331,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Manchester Capital Management LLC lifted its position in Genuine Parts by 36.1% in the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 66 shares during the last quarter. North Star Investment Management Corp. boosted its position in shares of Genuine Parts by 8.5% during the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after purchasing an additional 70 shares during the period. CHICAGO TRUST Co NA increased its holdings in Genuine Parts by 3.6% in the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after purchasing an additional 71 shares during the last quarter. First Citizens Bank & Trust Co. raised its position in Genuine Parts by 4.9% in the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock valued at $224,000 after purchasing an additional 75 shares during the period. Finally, HBK Sorce Advisory LLC raised its position in Genuine Parts by 1.8% in the first quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock valued at $689,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GPC shares. Truist Financial reiterated a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a report on Wednesday, August 28th. The Goldman Sachs Group lowered their price objective 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. UBS Group cut 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 note on Wednesday, July 3rd. Evercore ISI decreased their price target on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. Finally, StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $161.14.

Genuine Parts Stock Up 0.1 %

Shares of Genuine Parts stock traded up $0.13 during trading on Friday, hitting $136.70. 649,623 shares of the stock were exchanged, compared to its average volume of 965,835. 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’s 50-day moving average price is $139.60 and its 200 day moving average price is $144.42. The stock has a market cap of $19.04 billion, a price-to-earnings ratio of 15.24 and a beta of 0.90. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data 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). The business had revenue of $5.96 billion for the quarter, compared to analyst estimates 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 was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.44 earnings per share. As a group, analysts forecast that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s payout ratio is 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.