Foundations Investment Advisors LLC Boosts Holdings in Genuine Parts (NYSE:GPC)

Posted by Defense World Staff on Mar 20th, 2023

Foundations Investment Advisors LLC boosted its position in Genuine Parts (NYSE:GPC – Get Rating) by 41.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,668 shares of the specialty retailer’s stock after buying an additional 1,362 shares during the period. Foundations Investment Advisors LLC’s holdings in Genuine Parts were worth $810,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GPC. CVA Family Office LLC grew its holdings in Genuine Parts by 5.8% in the 3rd quarter. CVA Family Office LLC now owns 1,007 shares of the specialty retailer’s stock valued at $150,000 after buying an additional 55 shares during the period. Quent Capital LLC grew its holdings in Genuine Parts by 20.7% in the 3rd quarter. Quent Capital LLC now owns 344 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 59 shares during the period. Forum Financial Management LP grew its holdings in Genuine Parts by 2.5% in the 3rd quarter. Forum Financial Management LP now owns 2,453 shares of the specialty retailer’s stock valued at $366,000 after buying an additional 60 shares during the period. Buckingham Strategic Wealth LLC grew its holdings in Genuine Parts by 0.7% in the 3rd quarter. Buckingham Strategic Wealth LLC now owns 8,091 shares of the specialty retailer’s stock valued at $1,208,000 after buying an additional 60 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in Genuine Parts by 28.0% in the 3rd quarter. Pacer Advisors Inc. now owns 288 shares of the specialty retailer’s stock valued at $43,000 after buying an additional 63 shares during the period. 78.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on GPC. The Goldman Sachs Group lifted their price target on Genuine Parts from $147.00 to $157.00 and gave the company a “sell” rating in a report on Thursday, February 23rd. Truist Financial boosted their target price on Genuine Parts from $170.00 to $186.00 and gave the stock a “hold” rating in a report on Friday, February 24th. Wedbush reiterated a “neutral” rating on shares of Genuine Parts in a report on Friday, February 24th. Finally, StockNews.com assumed coverage on Genuine Parts in a report on Thursday. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $152.20.

Genuine Parts Stock Down 1.6 %

Shares of NYSE:GPC opened at $162.07 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.15. Genuine Parts has a 1 year low of $124.85 and a 1 year high of $187.73. The stock has a market capitalization of $22.82 billion, a P/E ratio of 19.50, a PEG ratio of 1.81 and a beta of 0.90. The stock has a 50-day simple moving average of $169.98 and a 200-day simple moving average of $169.73.

Genuine Parts (NYSE:GPC – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The specialty retailer reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.15. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.33 billion. Genuine Parts had a return on equity of 32.22% and a net margin of 5.35%. Genuine Parts’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.79 EPS. Equities analysts forecast that Genuine Parts will post 8.93 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 3rd will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, March 2nd. This is a boost from Genuine Parts’s previous quarterly dividend of $0.90. Genuine Parts’s dividend payout ratio is currently 45.73%.

Genuine Parts Company Profile

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Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group, Industrial Parts Group, and Corporate. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.