Genuine Parts (NYSE:GPC) Shares Purchased by Miramar Capital LLC

Miramar Capital LLC raised its position in Genuine Parts (NYSE:GPC) by 9.8% during the 3rd quarter, Holdings Channel reports. The firm owned 87,802 shares of the specialty retailer’s stock after acquiring an additional 7,845 shares during the quarter. Genuine Parts comprises about 2.9% of Miramar Capital LLC’s holdings, making the stock its 19th biggest position. Miramar Capital LLC’s holdings in Genuine Parts were worth $12,264,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Coastline Trust Co acquired a new stake in Genuine Parts in the 3rd quarter valued at about $164,000. Empowered Funds LLC grew its position in shares of Genuine Parts by 160.7% in the third quarter. Empowered Funds LLC now owns 25,977 shares of the specialty retailer’s stock valued at $3,628,000 after purchasing an additional 16,013 shares during the last quarter. Empirical Finance LLC increased its stake in shares of Genuine Parts by 2.3% during the 3rd quarter. Empirical Finance LLC now owns 4,885 shares of the specialty retailer’s stock worth $682,000 after purchasing an additional 110 shares in the last quarter. Royce & Associates LP lifted its stake in Genuine Parts by 8.7% in the 3rd quarter. Royce & Associates LP now owns 12,500 shares of the specialty retailer’s stock valued at $1,746,000 after buying an additional 1,000 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Genuine Parts by 7.1% during the 3rd quarter. CIBC Asset Management Inc now owns 23,768 shares of the specialty retailer’s stock valued at $3,320,000 after buying an additional 1,572 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GPC. Truist Financial cut their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. The Goldman Sachs Group reduced their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, UBS Group lowered their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts presently has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Price Performance

Shares of Genuine Parts stock opened at $122.62 on Friday. The stock has a market capitalization of $17.05 billion, a P/E ratio of 15.78 and a beta of 0.92. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The business’s fifty day moving average price is $130.79 and its 200 day moving average price is $138.57. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its 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 return on equity of 27.23% and a net margin of 4.67%. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter in the previous year, the firm posted $2.49 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio is presently 51.48%.

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.