Allworth Financial LP Buys 163 Shares of Genuine Parts (NYSE:GPC)

Posted by Defense World Staff on Mar 25th, 2023

Allworth Financial LP lifted its stake in shares of Genuine Parts (NYSE:GPC – Get Rating) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,687 shares of the specialty retailer’s stock after purchasing an additional 163 shares during the quarter. Allworth Financial LP’s holdings in Genuine Parts were worth $640,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GPC. WD Rutherford LLC bought a new position in Genuine Parts in the 3rd quarter valued at about $25,000. Dupont Capital Management Corp lifted its position in Genuine Parts by 128.0% in the 3rd quarter. Dupont Capital Management Corp now owns 171 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. BDO Wealth Advisors LLC lifted its position in Genuine Parts by 113.2% in the 3rd quarter. BDO Wealth Advisors LLC now owns 226 shares of the specialty retailer’s stock valued at $34,000 after acquiring an additional 120 shares in the last quarter. Ronald Blue Trust Inc. bought a new position in Genuine Parts in the 2nd quarter valued at about $38,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in Genuine Parts in the 3rd quarter valued at about $40,000. Institutional investors own 78.14% of the company’s stock.

Analyst Ratings Changes

GPC has been the topic of several recent analyst reports. Wedbush reissued a “neutral” rating on shares of Genuine Parts in a research report on Friday, February 24th. Truist Financial raised shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $186.00 target price on the stock in a research report on Friday. The Goldman Sachs Group lifted their target price on shares of Genuine Parts from $147.00 to $157.00 and gave the stock a “sell” rating in a research report on Thursday, February 23rd. Finally, StockNews.com began coverage on shares of Genuine Parts in a research note on Thursday, March 16th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $152.20.

Genuine Parts Trading Up 1.7 %

Shares of GPC stock opened at $156.88 on Friday. Genuine Parts has a 12-month low of $124.85 and a 12-month high of $187.73. The firm has a market cap of $22.09 billion, a P/E ratio of 18.88, a PEG ratio of 1.85 and a beta of 0.90. The company has a quick ratio of 0.57, a current ratio of 1.15 and a debt-to-equity ratio of 0.81. The company has a 50 day moving average of $169.12 and a 200-day moving average of $169.68.

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

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Friday, March 3rd will be given a dividend of $0.95 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.90. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, March 2nd. Genuine Parts’s payout ratio is 45.73%.

Genuine Parts Company Profile

(Get Rating)

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.