Stephens Inc. AR Has $8.38 Million Stake in Genuine Parts Company $GPC

Key Points

• Stephens Inc. AR reduced its stake in Genuine Parts Company by 9.9%, holding 64,254 shares valued at approximately $8.38 million as of the latest SEC filing.
• Genuine Parts Company reported a quarterly earnings per share (EPS) of $2.10, exceeding estimates, and had a revenue of $6.16 billion for the quarter.
• JPMorgan, UBS, and Evercore ISI have all raised their target prices for Genuine Parts, reflecting positive sentiment in the market with a consensus target price of $138.86.

Stephens Inc. AR decreased its position in Genuine Parts Company (NYSE:GPC - Free Report) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,254 shares of the specialty retailer's stock after selling 7,048 shares during the quarter. Stephens Inc. AR's holdings in Genuine Parts were worth $8,376,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rossby Financial LCC acquired a new stake in Genuine Parts during the first quarter worth approximately $25,000. Olde Wealth Management LLC acquired a new stake in Genuine Parts during the first quarter worth approximately $27,000. North Capital Inc. bought a new stake in Genuine Parts during the first quarter worth $28,000. Concord Wealth Partners lifted its stake in Genuine Parts by 148.7% during the second quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer's stock worth $36,000 after purchasing an additional 177 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in Genuine Parts by 7,950.0% during the first quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock worth $38,000 after purchasing an additional 318 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GPC shares. JPMorgan Chase & Co. upped their target price on Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group upped their target price on Genuine Parts from $135.00 to $140.00 and gave the stock a "neutral" rating in a research note on Friday, October 10th. Evercore ISI upped their target price on Genuine Parts from $148.00 to $150.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 1st. Truist Financial upped their target price on Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Genuine Parts in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $138.86.

Genuine Parts Stock Down 1.0%

Shares of GPC opened at $131.71 on Tuesday. The stock has a market capitalization of $18.32 billion, a price-to-earnings ratio of 22.67 and a beta of 0.77. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.21. The stock has a fifty day moving average of $137.50 and a 200-day moving average of $128.00.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.02. The business had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.Genuine Parts's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $2.44 EPS. As a group, sell-side analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Friday, September 5th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, September 5th. Genuine Parts's dividend payout ratio (DPR) is currently 70.91%.

Insider Transactions at Genuine Parts

In related news, EVP Naveen Krishna sold 5,303 shares of the firm's stock in a transaction on Friday, September 26th. The stock was sold at an average price of $138.12, for a total transaction of $732,450.36. Following the completion of the transaction, the executive vice president directly owned 26,112 shares of the company's stock, valued at $3,606,589.44. This trade represents a 16.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

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.

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