Pathway Financial Advisers LLC Grows Position in Genuine Parts (NYSE:GPC)

by · The Markets Daily

Pathway Financial Advisers LLC grew its position in shares of Genuine Parts (NYSE:GPC – Free Report) by 56.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,014 shares of the specialty retailer’s stock after acquiring an additional 3,596 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Genuine Parts were worth $1,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Wulff Hansen & CO. boosted 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 worth $216,675,000 after purchasing an additional 1,555,149 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Genuine Parts by 14,222.1% in the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock worth $81,621,000 after buying an additional 580,262 shares during the last quarter. DAVENPORT & Co LLC grew its holdings in shares of Genuine Parts by 3,029.9% in the first quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock valued at $58,999,000 after acquiring an additional 368,470 shares in the last quarter. Natixis increased its position in shares of Genuine Parts by 768.4% during the first quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock valued at $49,014,000 after acquiring an additional 279,930 shares during the last quarter. Finally, Anchor Capital Advisors LLC lifted its holdings in Genuine Parts by 1,457.3% during the first quarter. Anchor Capital Advisors LLC now owns 269,961 shares of the specialty retailer’s stock worth $41,825,000 after acquiring an additional 252,626 shares during the period. Institutional investors own 78.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on GPC. Truist Financial reduced their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday. Evercore ISI increased their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. UBS Group lowered their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Finally, Wedbush lowered their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday. Six equities 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, the company has a consensus rating of “Hold” and an average price target of $139.57.

Read Our Latest Research Report on GPC

Genuine Parts Stock Performance

NYSE GPC opened at $114.24 on Friday. The firm has a market cap of $15.92 billion, a P/E ratio of 14.70 and a beta of 0.90. The company has a quick ratio of 0.54, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The company’s 50 day moving average is $137.22 and its 200-day moving average is $142.12. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter in the prior year, the company earned $2.49 EPS. The company’s revenue was up 3.0% on a year-over-year basis. Sell-side analysts predict that Genuine Parts will post 8.1 earnings per share for the current year.

Genuine Parts Announces Dividend

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

Genuine Parts Profile

(Free Report)

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.

Featured Articles