Telos Capital Management Inc. Buys 473 Shares of Genuine Parts (NYSE:GPC)

by · The Markets Daily

Telos Capital Management Inc. lifted its stake in shares of Genuine Parts (NYSE:GPC – Free Report) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,435 shares of the specialty retailer’s stock after purchasing an additional 473 shares during the quarter. Telos Capital Management Inc.’s holdings in Genuine Parts were worth $5,508,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wulff Hansen & CO. increased 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 acquiring an additional 1,555,149 shares in the last quarter. DAVENPORT & Co LLC increased its stake in Genuine Parts by 3,029.9% during the 1st quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock valued at $58,999,000 after purchasing an additional 368,470 shares in the last quarter. Natixis increased its stake in Genuine Parts by 768.4% during the 1st quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock valued at $49,014,000 after purchasing an additional 279,930 shares in the last quarter. Anchor Capital Advisors LLC raised 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 buying an additional 252,626 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Genuine Parts by 21.3% in 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 in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.0 %

Shares of NYSE:GPC opened at $143.14 on Tuesday. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45. The company has a market capitalization of $19.94 billion, a PE ratio of 15.96 and a beta of 0.90. The business has a fifty day moving average price of $138.97 and a two-hundred day moving average price of $143.12. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54.

Genuine Parts (NYSE:GPC – Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. Genuine Parts’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.44 EPS. Analysts forecast that Genuine Parts will post 9.37 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. Stockholders of record on Friday, September 6th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio is currently 44.59%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GPC shares. JPMorgan Chase & Co. upped their target price on shares of Genuine Parts from $157.00 to $162.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Truist Financial reissued a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research report on Wednesday, August 28th. Wedbush cut their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group lowered their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $157.29.

Get Our Latest Stock Report on Genuine Parts

About Genuine Parts

(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.

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