Distillate Capital Partners LLC Purchases Shares of 102,143 Genuine Parts (NYSE:GPC)

Distillate Capital Partners LLC acquired a new position in Genuine Parts (NYSE:GPC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 102,143 shares of the specialty retailer’s stock, valued at approximately $14,128,000. Distillate Capital Partners LLC owned 0.07% of Genuine Parts as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GPC. Stifel Financial Corp boosted its position in shares of Genuine Parts by 27.0% in the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after purchasing an additional 431,623 shares during the period. Wulff Hansen & CO. raised its holdings in Genuine Parts by 13,732.0% during the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after acquiring an additional 1,555,149 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Genuine Parts by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock worth $189,296,000 after acquiring an additional 239,858 shares during the period. Morningstar Investment Services LLC raised its stake in Genuine Parts by 161.2% during the 4th quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock valued at $80,066,000 after purchasing an additional 357,091 shares during the period. Finally, Gamco Investors INC. ET AL lifted its holdings in Genuine Parts by 0.8% in the 4th quarter. Gamco Investors INC. ET AL now owns 545,249 shares of the specialty retailer’s stock worth $75,517,000 after purchasing an additional 4,436 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on GPC. Wedbush reduced their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Evercore ISI decreased their price target on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 24th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. Truist Financial reiterated a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a research report on Wednesday, August 28th. Finally, 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 report on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $161.14.

Genuine Parts Stock Up 0.5 %

Shares of GPC opened at $137.74 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The business has a fifty day moving average of $139.66 and a 200 day moving average of $145.17. The company has a market cap of $19.19 billion, a PE ratio of 15.36 and a beta of 0.90. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the prior year, the firm posted $2.44 earnings per share. Genuine Parts’s revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts expect that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Friday, September 6th. Genuine Parts’s payout ratio is currently 44.59%.

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.