Simplicity Wealth LLC Trims Stock Holdings in Genuine Parts (NYSE:GPC)

Simplicity Wealth LLC lowered its holdings in Genuine Parts (NYSE:GPC) by 42.6% in the third quarter, HoldingsChannel reports. The firm owned 5,863 shares of the specialty retailer’s stock after selling 4,347 shares during the period. Simplicity Wealth LLC’s holdings in Genuine Parts were worth $819,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wulff Hansen & CO. boosted its holdings in Genuine Parts by 13,732.0% in the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after purchasing an additional 1,555,149 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Genuine Parts by 21.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock worth $189,296,000 after buying an additional 239,858 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in Genuine Parts by 29.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock worth $135,579,000 after buying an additional 223,712 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Genuine Parts by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 544,579 shares of the specialty retailer’s stock worth $75,326,000 after buying an additional 13,753 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC lifted its holdings in Genuine Parts by 49.2% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 467,048 shares of the specialty retailer’s stock worth $673,000 after buying an additional 153,981 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Up 2.8 %

Shares of Genuine Parts stock opened at $137.24 on Friday. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $164.45. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $19.12 billion, a price-to-earnings ratio of 15.30 and a beta of 0.90. The business’s 50 day simple moving average is $138.60 and its 200-day simple moving average is $143.63.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the prior year, the business earned $2.44 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. Equities research analysts forecast that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.91%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio is currently 44.59%.

Analyst Ratings Changes

A number of research analysts have commented on GPC shares. Truist Financial reaffirmed a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a report on Wednesday, August 28th. UBS Group reduced their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Evercore ISI reduced their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. Wedbush dropped their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group dropped their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $161.14.

About Genuine Parts

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.