BNP Paribas Financial Markets Grows Stake in Genuine Parts (NYSE:GPC)

BNP Paribas Financial Markets boosted its position in shares of Genuine Parts (NYSE:GPC) by 72.6% in the third quarter, Holdings Channel reports. The fund owned 215,644 shares of the specialty retailer’s stock after purchasing an additional 90,731 shares during the quarter. BNP Paribas Financial Markets’ holdings in Genuine Parts were worth $30,121,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP bought a new stake in Genuine Parts during the third quarter valued at approximately $31,000. Concord Wealth Partners increased its holdings in Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 119 shares during the last quarter. Triad Wealth Partners LLC bought a new position in Genuine Parts in the second quarter worth approximately $40,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Genuine Parts during the 3rd quarter worth $44,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Down 0.1 %

Genuine Parts stock opened at $126.77 on Friday. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The firm’s 50 day moving average price is $128.63 and its 200-day moving average price is $136.63. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The stock has a market cap of $17.63 billion, a P/E ratio of 16.31 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter in the prior year, the firm posted $2.49 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts predict that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.16%. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GPC shares. Wedbush decreased their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Truist Financial decreased their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group reduced their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Finally, UBS Group reduced their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Genuine Parts has an average rating of “Hold” and an average target price of $139.57.

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.