Genuine Parts Company $GPC Shares Sold by Core Alternative Capital

Core Alternative Capital lowered its holdings in Genuine Parts Company (NYSE:GPC) by 12.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,583 shares of the specialty retailer’s stock after selling 3,995 shares during the period. Core Alternative Capital’s holdings in Genuine Parts were worth $3,823,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Paragon Private Wealth Management LLC boosted its position in Genuine Parts by 7.3% in the 3rd quarter. Paragon Private Wealth Management LLC now owns 3,943 shares of the specialty retailer’s stock valued at $546,000 after buying an additional 267 shares during the period. Bank of Jackson Hole Trust raised its stake in shares of Genuine Parts by 12.3% in the third quarter. Bank of Jackson Hole Trust now owns 4,390 shares of the specialty retailer’s stock valued at $608,000 after acquiring an additional 480 shares in the last quarter. Chilton Capital Management LLC boosted its holdings in Genuine Parts by 2.2% in the third quarter. Chilton Capital Management LLC now owns 5,111 shares of the specialty retailer’s stock valued at $708,000 after purchasing an additional 111 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in Genuine Parts by 4.4% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,041 shares of the specialty retailer’s stock worth $1,531,000 after purchasing an additional 462 shares in the last quarter. Finally, Patron Partners LLC increased its holdings in Genuine Parts by 3.8% during the 3rd quarter. Patron Partners LLC now owns 5,164 shares of the specialty retailer’s stock worth $716,000 after purchasing an additional 189 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Truist Financial lifted their price objective on Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Evercore ISI lifted their price target on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. The Goldman Sachs Group raised shares of Genuine Parts from a “sell” rating to a “neutral” rating and increased their price objective for the company from $130.00 to $142.00 in a research report on Thursday, November 13th. UBS Group lifted their price objective on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Genuine Parts Price Performance

Shares of GPC opened at $139.27 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $143.48. The stock has a market cap of $19.37 billion, a PE ratio of 23.97 and a beta of 0.75. The firm has a fifty day moving average price of $129.24 and a 200 day moving average price of $132.07.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Friday, December 5th were given a $1.03 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. Genuine Parts’s dividend payout ratio is 70.91%.

Genuine Parts Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.