OneDigital Investment Advisors LLC Sells 1,723 Shares of Genuine Parts (NYSE:GPC)

OneDigital Investment Advisors LLC lowered its position in Genuine Parts (NYSE:GPC) by 35.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,164 shares of the specialty retailer’s stock after selling 1,723 shares during the period. OneDigital Investment Advisors LLC’s holdings in Genuine Parts were worth $442,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GPC. O Shaughnessy Asset Management LLC increased its stake in shares of Genuine Parts by 13.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 18,915 shares of the specialty retailer’s stock valued at $2,930,000 after purchasing an additional 2,249 shares in the last quarter. Lake Street Advisors Group LLC bought a new stake in Genuine Parts in the first quarter worth $278,000. Shell Asset Management Co. grew its stake in shares of Genuine Parts by 37.2% in the first quarter. Shell Asset Management Co. now owns 7,891 shares of the specialty retailer’s stock worth $1,223,000 after acquiring an additional 2,138 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in shares of Genuine Parts in the 1st quarter worth about $711,000. Finally, Axxcess Wealth Management LLC grew its position in Genuine Parts by 12.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 1,649 shares of the specialty retailer’s stock valued at $255,000 after purchasing an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

GPC opened at $120.76 on Thursday. The company’s 50 day moving average is $129.96 and its 200 day moving average is $137.71. 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 company has a market cap of $16.79 billion, a price-to-earnings ratio of 15.54 and a beta of 0.92. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter last year, the firm posted $2.49 earnings per share. Genuine Parts’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts predict that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a $1.00 dividend. The ex-dividend date is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.31%. Genuine Parts’s payout ratio is currently 51.48%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Evercore ISI boosted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Wedbush dropped their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, Truist Financial decreased their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” 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 issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.