Nicholas Hoffman & Company LLC. Sells 312 Shares of Genuine Parts (NYSE:GPC)

Nicholas Hoffman & Company LLC. reduced its stake in Genuine Parts (NYSE:GPC) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,253 shares of the specialty retailer’s stock after selling 312 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Genuine Parts were worth $1,432,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Manchester Capital Management LLC increased its holdings in shares of Genuine Parts by 36.1% during the first 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 in the last quarter. Concord Wealth Partners increased its position in shares of 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 acquiring an additional 119 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in Genuine Parts in the 2nd quarter worth approximately $40,000. Armstrong Advisory Group Inc. boosted its stake in Genuine Parts by 63.8% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 141 shares during the last quarter. Finally, Rosenberg Matthew Hamilton increased its holdings in shares of Genuine Parts by 92.2% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer’s stock worth $50,000 after purchasing an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the topic of several research analyst reports. Truist Financial lowered their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. UBS Group dropped their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Wedbush decreased their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Evercore ISI increased their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group cut their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Price Performance

GPC stock opened at $117.28 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.54 and a current ratio of 1.17. The company’s fifty day moving average price is $136.37 and its 200-day moving average price is $141.68. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a market capitalization of $16.34 billion, a PE ratio of 13.07 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.49 EPS. On average, equities analysts anticipate that Genuine Parts will post 8.1 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.41%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio is presently 44.59%.

Genuine Parts 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.