Westhampton Capital LLC Has $907,000 Stock Holdings in Genuine Parts (NYSE:GPC)

Westhampton Capital LLC boosted its stake in Genuine Parts (NYSE:GPC) by 8.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,490 shares of the specialty retailer’s stock after buying an additional 500 shares during the period. Westhampton Capital LLC’s holdings in Genuine Parts were worth $907,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Comerica Bank grew its position in shares of Genuine Parts by 19.6% in the first quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock valued at $17,609,000 after purchasing an additional 18,657 shares during the last quarter. Mezzasalma Advisors LLC grew its holdings in Genuine Parts by 497.0% in the 1st quarter. Mezzasalma Advisors LLC now owns 12,035 shares of the specialty retailer’s stock valued at $1,865,000 after buying an additional 10,019 shares in the last quarter. Acadian Asset Management LLC increased its position in Genuine Parts by 137.9% during the 1st quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock worth $3,560,000 after buying an additional 13,330 shares during the period. Hennessy Advisors Inc. acquired a new stake in shares of Genuine Parts during the first quarter worth $3,083,000. Finally, Wellington Management Group LLP boosted its position in shares of Genuine Parts by 726.9% in the fourth quarter. Wellington Management Group LLP now owns 54,742 shares of the specialty retailer’s stock valued at $7,582,000 after acquiring an additional 48,122 shares during the period. 78.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. The Goldman Sachs Group lowered their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. UBS Group lowered their target price on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Wedbush cut their price target on 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 restated a “buy” rating and set a $164.00 price objective on shares of Genuine Parts in a research note 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 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.com, Genuine Parts currently has an average rating of “Hold” and an average target price of $155.14.

Genuine Parts Price Performance

Genuine Parts stock opened at $113.02 on Wednesday. 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 stock has a market capitalization of $15.74 billion, a P/E ratio of 12.60 and a beta of 0.90. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The stock has a fifty day moving average of $139.12 and a 200-day moving average of $143.08.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.44 earnings per share. On average, sell-side analysts expect that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders 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 yield of 3.54%. Genuine Parts’s dividend payout ratio is currently 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.