Benedict Financial Advisors Inc. Grows Holdings in Genuine Parts (NYSE:GPC)

Benedict Financial Advisors Inc. lifted its position in shares of Genuine Parts (NYSE:GPC) by 2.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,543 shares of the specialty retailer’s stock after buying an additional 261 shares during the quarter. Benedict Financial Advisors Inc.’s holdings in Genuine Parts were worth $1,333,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Pathway Financial Advisers LLC raised its holdings in Genuine Parts by 56.0% in the third quarter. Pathway Financial Advisers LLC now owns 10,014 shares of the specialty retailer’s stock valued at $1,399,000 after buying an additional 3,596 shares during the period. Forsta AP Fonden lifted its stake in shares of Genuine Parts by 14.0% in the third quarter. Forsta AP Fonden now owns 31,800 shares of the specialty retailer’s stock worth $4,442,000 after acquiring an additional 3,900 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Genuine Parts by 36.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,814 shares of the specialty retailer’s stock worth $1,951,000 after buying an additional 3,718 shares during the last quarter. Highland Capital Management LLC acquired a new stake in shares of Genuine Parts in the 3rd quarter valued at about $4,216,000. Finally, Tectonic Advisors LLC grew its position in shares of Genuine Parts by 6.3% in the 3rd quarter. Tectonic Advisors LLC now owns 2,761 shares of the specialty retailer’s stock worth $386,000 after acquiring an additional 164 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Up 1.0 %

Shares of NYSE:GPC traded up $1.13 during mid-day trading on Friday, reaching $114.24. 2,138,120 shares of the stock were exchanged, compared to its average volume of 1,074,868. The stock’s 50 day simple moving average is $137.22 and its 200-day simple moving average is $142.18. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a market cap of $15.92 billion, a P/E ratio of 14.71 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.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. Genuine Parts’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $2.49 earnings per share. As a group, equities research analysts predict that Genuine Parts will post 8.1 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a $1.00 dividend. 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 dividend payout ratio is currently 51.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GPC. The Goldman Sachs Group cut their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday. Wedbush dropped their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday. Truist Financial cut their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday. 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. Finally, JPMorgan Chase & Co. reduced their price target 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. Six investment 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, Genuine Parts currently has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts 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.