Banque Cantonale Vaudoise Purchases Shares of 2,993 Genuine Parts (NYSE:GPC)

Banque Cantonale Vaudoise purchased a new stake in Genuine Parts (NYSE:GPC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,993 shares of the specialty retailer’s stock, valued at approximately $414,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its stake in Genuine Parts by 8.9% in the second quarter. Commonwealth Equity Services LLC now owns 83,348 shares of the specialty retailer’s stock valued at $11,529,000 after buying an additional 6,810 shares during the period. Concurrent Investment Advisors LLC increased its holdings in shares of Genuine Parts by 93.3% during the second quarter. Concurrent Investment Advisors LLC now owns 12,870 shares of the specialty retailer’s stock valued at $1,780,000 after acquiring an additional 6,212 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of Genuine Parts during the second quarter valued at approximately $150,000. Intact Investment Management Inc. increased its holdings in shares of Genuine Parts by 7.9% during the second quarter. Intact Investment Management Inc. now owns 32,262 shares of the specialty retailer’s stock valued at $4,462,000 after acquiring an additional 2,362 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co increased its holdings in shares of Genuine Parts by 14.0% during the second quarter. Pine Valley Investments Ltd Liability Co now owns 23,262 shares of the specialty retailer’s stock valued at $3,227,000 after acquiring an additional 2,851 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Up 0.7 %

Shares of NYSE:GPC opened at $143.26 on Tuesday. The company has a market capitalization of $19.96 billion, a PE ratio of 15.97 and a beta of 0.92. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The business has a fifty day moving average price of $139.08 and a two-hundred day moving average price of $146.26. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45.

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

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.79%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wedbush decreased their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Evercore ISI decreased their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. Truist Financial reiterated a “buy” rating and set a $164.00 price target on shares of Genuine Parts in a report on Wednesday, August 28th. Finally, UBS Group decreased their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and a consensus price target of $161.14.

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.