Brighton Jones LLC Grows Stake in Genuine Parts (NYSE:GPC)

Brighton Jones LLC increased its stake in shares of Genuine Parts (NYSE:GPC) by 7.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,531 shares of the specialty retailer’s stock after buying an additional 167 shares during the quarter. Brighton Jones LLC’s holdings in Genuine Parts were worth $354,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Wulff Hansen & CO. grew its holdings in shares of 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 buying an additional 1,555,149 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Genuine Parts by 21.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after buying an additional 239,858 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of Genuine Parts by 29.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock valued at $135,579,000 after buying an additional 223,712 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after purchasing an additional 580,262 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Genuine Parts by 2.6% in the second quarter. Envestnet Asset Management Inc. now owns 544,579 shares of the specialty retailer’s stock valued at $75,326,000 after purchasing an additional 13,753 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Trading Up 1.0 %

Shares of Genuine Parts stock opened at $114.24 on Friday. The firm has a 50-day simple moving average of $137.22 and a two-hundred day simple moving average of $142.12. The company has a market cap of $15.92 billion, a P/E ratio of 14.70 and a beta of 0.90. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.54 and a current ratio of 1.17.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $2.49 EPS. As a group, equities analysts predict that Genuine Parts will post 8.1 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.50%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. UBS Group lowered their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Truist Financial lowered their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday. Evercore ISI upped their price target on shares of 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 lowered 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. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and a consensus price target of $139.57.

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.