4,085 Shares in Genuine Parts Company $GPC Purchased by MQS Management LLC

MQS Management LLC acquired a new position in Genuine Parts Company (NYSE:GPC) during the 3rd quarter, HoldingsChannel reports. The fund acquired 4,085 shares of the specialty retailer’s stock, valued at approximately $566,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Peoples Financial Services CORP. purchased a new stake in shares of Genuine Parts during the 3rd quarter worth approximately $29,000. Golden State Wealth Management LLC lifted its stake in Genuine Parts by 8,833.3% in the second quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock valued at $33,000 after purchasing an additional 265 shares during the last quarter. Concord Wealth Partners grew its holdings in Genuine Parts by 148.7% during the second quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock valued at $36,000 after purchasing an additional 177 shares during the period. Hantz Financial Services Inc. grew its holdings in Genuine Parts by 7,825.0% during the second quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 313 shares during the period. Finally, Quaker Wealth Management LLC increased its position in Genuine Parts by 11,533.3% in the second quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock worth $42,000 after buying an additional 346 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

Shares of GPC opened at $146.55 on Wednesday. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $149.27. The stock’s 50-day simple moving average is $132.30 and its 200 day simple moving average is $133.21. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14. The stock has a market capitalization of $20.39 billion, a price-to-earnings ratio of 25.22 and a beta of 0.74.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Friday, December 5th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, December 5th. Genuine Parts’s dividend payout ratio (DPR) is 70.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GPC. UBS Group reaffirmed a “neutral” rating on shares of Genuine Parts in a research report on Wednesday. The Goldman Sachs Group upgraded Genuine Parts from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $130.00 to $142.00 in a research note on Thursday, November 13th. Truist Financial upped their price objective on shares of Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Evercore ISI reiterated an “outperform” rating and set a $155.00 target price on shares of Genuine Parts in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $149.00.

About Genuine Parts

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.