Genuine Parts (NYSE:GPC) Shares Acquired by Miramar Capital LLC

Miramar Capital LLC lifted its stake in Genuine Parts (NYSE:GPC) by 9.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,802 shares of the specialty retailer’s stock after buying an additional 7,845 shares during the period. Genuine Parts makes up 2.9% of Miramar Capital LLC’s investment portfolio, making the stock its 19th largest holding. Miramar Capital LLC owned about 0.06% of Genuine Parts worth $12,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of GPC. Wulff Hansen & CO. increased its position in shares of Genuine Parts by 13,732.0% during the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after purchasing an additional 1,555,149 shares in the last quarter. International Assets Investment Management LLC grew its stake in Genuine Parts by 14,222.1% during the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock worth $81,621,000 after buying an additional 580,262 shares during the last quarter. Boston Trust Walden Corp acquired a new position in Genuine Parts during the third quarter worth approximately $39,474,000. Natixis lifted its stake in Genuine Parts by 768.4% in the first quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock valued at $49,014,000 after buying an additional 279,930 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Genuine Parts by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after acquiring an additional 239,858 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

NYSE GPC opened at $122.62 on Friday. The stock has a market capitalization of $17.05 billion, a price-to-earnings ratio of 15.78 and a beta of 0.92. The business’s 50 day moving average is $130.79 and its two-hundred day moving average is $138.57. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share 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 business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same period in the prior year, the company earned $2.49 EPS. The company’s revenue was up 3.0% on a year-over-year basis. Research analysts expect that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio is currently 51.48%.

Analyst Upgrades and Downgrades

GPC has been the subject of several research reports. Evercore ISI upped 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. UBS Group reduced their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Wedbush reduced their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $139.57.

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.