HM Payson & Co. Grows Stake in Genuine Parts (NYSE:GPC)

HM Payson & Co. raised its stake in Genuine Parts (NYSE:GPC) by 20.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,200 shares of the specialty retailer’s stock after acquiring an additional 537 shares during the quarter. HM Payson & Co.’s holdings in Genuine Parts were worth $447,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its stake in Genuine Parts by 36.1% in the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 66 shares during the last quarter. Concord Wealth Partners boosted its stake in Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 119 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in Genuine Parts in the second quarter valued at about $40,000. Armstrong Advisory Group Inc. raised its position in shares of Genuine Parts by 63.8% in the third quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 141 shares during the period. Finally, Rosenberg Matthew Hamilton raised its position in shares of Genuine Parts by 92.2% in the second quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer’s stock valued at $50,000 after purchasing an additional 178 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

Genuine Parts stock opened at $113.61 on Friday. The firm’s 50 day simple moving average is $134.72 and its 200 day simple moving average is $141.10. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $15.80 billion, a PE ratio of 14.62 and a beta of 0.90. 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 company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same period in the prior year, the firm earned $2.49 EPS. Genuine Parts’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, analysts expect that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.52%. Genuine Parts’s dividend payout ratio is presently 51.48%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GPC shares. JPMorgan Chase & Co. lowered their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Wedbush lowered their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Evercore ISI boosted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Truist Financial lowered their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.