Telos Capital Management Inc. Raises Holdings in Genuine Parts (NYSE:GPC)

Telos Capital Management Inc. increased its position in Genuine Parts (NYSE:GPC) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 39,435 shares of the specialty retailer’s stock after acquiring an additional 473 shares during the quarter. Telos Capital Management Inc.’s holdings in Genuine Parts were worth $5,508,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GPC. WD Rutherford LLC bought a new stake in shares of Genuine Parts in the first quarter valued at approximately $26,000. Stephens Consulting LLC raised its holdings in Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 200 shares during the period. Thompson Investment Management Inc. bought a new stake in Genuine Parts during the 1st quarter valued at $35,000. Manchester Capital Management LLC lifted its position in shares of Genuine Parts by 36.1% during the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 66 shares in the last quarter. Finally, Triad Wealth Partners LLC bought a new position in shares of Genuine Parts in the second quarter worth $40,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Trading Down 0.0 %

Shares of Genuine Parts stock opened at $143.14 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45. The firm has a market cap of $19.94 billion, a PE ratio of 15.96 and a beta of 0.90. The company has a 50 day simple moving average of $138.97 and a two-hundred day simple moving average of $143.12.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.59 by ($0.15). The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $2.44 earnings per share. Analysts expect that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s payout ratio is currently 44.59%.

Wall Street Analyst Weigh In

GPC has been the topic of a number of recent research reports. Truist Financial reissued a “buy” rating and set a $164.00 price objective on shares of Genuine Parts in a report on Wednesday, August 28th. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Wedbush reduced their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Evercore ISI lowered their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of Genuine Parts from $157.00 to $162.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $157.29.

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.