Charles Schwab Investment Management Inc. Raises Stock Holdings in Genuine Parts (NYSE:GPC)

Charles Schwab Investment Management Inc. lifted its stake in Genuine Parts (NYSE:GPC) by 1.1% in the third quarter, HoldingsChannel.com reports. The fund owned 2,743,970 shares of the specialty retailer’s stock after purchasing an additional 30,354 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Genuine Parts were worth $383,511,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Axxcess Wealth Management LLC raised its stake 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 buying an additional 183 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Genuine Parts by 0.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 192,927 shares of the specialty retailer’s stock valued at $29,891,000 after acquiring an additional 1,127 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in Genuine Parts by 10.1% in the first quarter. Public Employees Retirement Association of Colorado now owns 116,340 shares of the specialty retailer’s stock valued at $18,025,000 after acquiring an additional 10,683 shares during the period. SVB Wealth LLC boosted its position in Genuine Parts by 3.2% in the first quarter. SVB Wealth LLC now owns 4,927 shares of the specialty retailer’s stock worth $763,000 after purchasing an additional 151 shares during the last quarter. Finally, Kinloch Capital LLC grew its stake in shares of Genuine Parts by 9.2% during the 1st quarter. Kinloch Capital LLC now owns 21,487 shares of the specialty retailer’s stock valued at $3,329,000 after purchasing an additional 1,807 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Price Performance

NYSE:GPC opened at $124.78 on Friday. The firm has a market capitalization of $17.35 billion, a price-to-earnings ratio of 16.06 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The business has a 50 day simple moving average of $129.44 and a 200-day simple moving average of $137.38. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same period in the prior 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. Equities analysts forecast that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a $1.00 dividend. The ex-dividend date is Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.21%. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

Analyst Ratings Changes

Several brokerages have recently weighed in on GPC. Truist Financial lowered their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group decreased their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. UBS Group cut their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Company 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.