Oppenheimer & Co. Inc. Sells 343 Shares of Genuine Parts (NYSE:GPC)

Oppenheimer & Co. Inc. decreased its holdings in Genuine Parts (NYSE:GPC) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,705 shares of the specialty retailer’s stock after selling 343 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Genuine Parts were worth $1,914,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Kingsview Wealth Management LLC boosted its position in shares of Genuine Parts by 5.7% during the first quarter. Kingsview Wealth Management LLC now owns 3,537 shares of the specialty retailer’s stock valued at $548,000 after buying an additional 191 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in Genuine Parts by 707.2% during the 1st quarter. Orion Portfolio Solutions LLC now owns 14,691 shares of the specialty retailer’s stock valued at $2,276,000 after acquiring an additional 12,871 shares in the last quarter. Acadian Asset Management LLC boosted its holdings 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 acquiring an additional 13,330 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Genuine Parts by 13.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 18,915 shares of the specialty retailer’s stock worth $2,930,000 after acquiring an additional 2,249 shares in the last quarter. Finally, Seven Eight Capital LP raised its holdings in shares of Genuine Parts by 116.7% in the first quarter. Seven Eight Capital LP now owns 8,535 shares of the specialty retailer’s stock valued at $1,322,000 after purchasing an additional 4,597 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Price Performance

GPC opened at $122.62 on Monday. The firm has a 50-day moving average price of $130.79 and a 200-day moving average price of $138.31. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $17.05 billion, a price-to-earnings ratio of 15.78 and a beta of 0.92.

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 net margin of 4.67% and a return on equity of 27.23%. The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.49 EPS. Equities analysts expect that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GPC shares. Truist Financial reduced their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. The Goldman Sachs Group cut their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI lifted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Finally, Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and an average price target of $139.57.

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.