TFG Advisers LLC Cuts Position in Genuine Parts (NYSE:GPC)

TFG Advisers LLC trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 6.7% in the third quarter, HoldingsChannel.com reports. The fund owned 2,431 shares of the specialty retailer’s stock after selling 175 shares during the period. TFG Advisers LLC’s holdings in Genuine Parts were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of GPC. WD Rutherford LLC purchased a new stake in shares of Genuine Parts during the 1st quarter valued at $26,000. Stephens Consulting LLC raised its position in Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 200 shares during the period. Thompson Investment Management Inc. purchased a new position in Genuine Parts in the first quarter valued at about $35,000. Manchester Capital Management LLC grew its position in shares of Genuine Parts by 36.1% during 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 period. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Genuine Parts during the 2nd quarter worth approximately $40,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Performance

Genuine Parts stock traded up $0.96 during mid-day trading on Wednesday, reaching $114.07. The company’s stock had a trading volume of 343,563 shares, compared to its average volume of 984,256. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a market capitalization of $15.89 billion, a P/E ratio of 12.71 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 firm’s fifty day moving average price is $138.64 and its two-hundred day moving average price is $142.82.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same period in the prior year, the firm posted $2.49 EPS. Genuine Parts’s revenue was up 3.0% on a year-over-year basis. Sell-side analysts predict that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.51%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Wall Street Analyst Weigh In

GPC has been the subject of several research reports. Wedbush reduced their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. UBS Group cut their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. lowered their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday. Truist Financial reiterated a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a research note on Wednesday, August 28th. Finally, StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Genuine Parts currently has an average rating of “Hold” and an average price target of $155.14.

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.