18,333 Shares in Genuine Parts Company $GPC Acquired by Paragon Advisors LLC

Key Points

• Paragon Advisors LLC acquired 18,333 shares of Genuine Parts in the third quarter, valued at approximately $2.305 million; institutional investors collectively own 78.83% of the stock.
• Genuine Parts beat quarterly earnings and revenue expectations, reporting EPS of $2.07 and revenue of $6.52 billion. Revenue increased 4.2% year over year.
• Analysts give the stock a “Moderate Buy” consensus rating, with an average price target of $145; the company’s annualized dividend is $4.25 per share, a yield of about 3.5%.

Paragon Advisors LLC acquired a new stake in Genuine Parts Company (NYSE:GPC - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 18,333 shares of the specialty retailer's stock, valued at approximately $2,305,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Compass Wealth Management LLC purchased a new position in shares of Genuine Parts during the 3rd quarter valued at $25,000. Elevation Wealth Partners LLC raised its holdings in shares of Genuine Parts by 510.9% during the second quarter. Elevation Wealth Partners LLC now owns 281 shares of the specialty retailer's stock worth $33,000 after acquiring an additional 235 shares in the last quarter. Latitude Advisors LLC purchased a new stake in shares of Genuine Parts during the third quarter worth $37,000. EFG International AG purchased a new stake in shares of Genuine Parts during the second quarter worth $36,000. Finally, Clearstead Trust LLC acquired a new stake in Genuine Parts during the second quarter valued at $48,000. Hedge funds and other institutional investors own 78.83% of the company's stock.

Genuine Parts Stock Down 0.0%

Genuine Parts stock opened at $122.79 on Monday. The company has a market capitalization of $16.93 billion, a P/E ratio of 491.16, a P/E/G ratio of 2.69 and a beta of 0.65. The firm's fifty day simple moving average is $128.88 and its 200-day simple moving average is $120.01. The company has a current ratio of 1.22, a quick ratio of 0.54 and a debt-to-equity ratio of 0.96. Genuine Parts Company has a 1-year low of $90.78 and a 1-year high of $151.57.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The specialty retailer reported $2.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.04 by $0.03. The firm had revenue of $6.52 billion during the quarter, compared to analysts' expectations of $6.49 billion. Genuine Parts had a net margin of 0.12% and a return on equity of 23.00%. Genuine Parts's revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.98 earnings per share. Sell-side analysts forecast that Genuine Parts Company will post 7.62 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 4th were given a $1.0625 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 3.5%. Genuine Parts's payout ratio is currently 1,700.00%.

Analysts Set New Price Targets

A number of brokerages have commented on GPC. UBS Group boosted their target price on Genuine Parts from $122.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, October 21st. Evercore reaffirmed an "outperform" rating on shares of Genuine Parts in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Genuine Parts in a research note on Monday, September 21st. Argus reduced their price target on Genuine Parts from $156.00 to $150.00 and set a "buy" rating for the company in a report on Thursday, October 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Genuine Parts from $125.00 to $137.00 and gave the company an "overweight" rating in a research note on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $145.00.

Genuine Parts Profile

Genuine Parts Company is a distributor of automotive replacement parts and industrial products. Founded in 1928 and headquartered in Atlanta, Georgia, the company serves businesses and consumers through its distribution networks and brands.

Its automotive business distributes replacement parts, accessories and related products, including through the NAPA Auto Parts brand. Its industrial business, operating primarily as Motion, supplies products such as bearings, power-transmission components, fluid-power equipment and other maintenance and repair items to industrial customers.

Genuine Parts serves customers across North America and in international markets, including Europe and Australasia.

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