Prospera Financial Services Inc Purchases 993 Shares of Genuine Parts (NYSE:GPC)

Prospera Financial Services Inc boosted its position in Genuine Parts (NYSE:GPC) by 36.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,732 shares of the specialty retailer’s stock after acquiring an additional 993 shares during the quarter. Prospera Financial Services Inc’s holdings in Genuine Parts were worth $522,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Genuine Parts in the third quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new position in Genuine Parts in the third quarter valued at approximately $31,000. Concord Wealth Partners increased its stake in Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 119 shares during the last quarter. Triad Wealth Partners LLC bought a new position in Genuine Parts in the second quarter valued at approximately $40,000. Finally, Catalyst Capital Advisors LLC bought a new position in Genuine Parts in the third quarter valued at approximately $44,000. 78.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on GPC shares. Evercore ISI lifted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. UBS Group cut their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Truist Financial cut their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group cut their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $139.57.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $124.80 on Friday. The firm has a market cap of $17.35 billion, a PE ratio of 16.06 and a beta of 0.92. The firm’s fifty day moving average is $129.44 and its 200-day moving average is $137.26. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. Genuine Parts’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.49 EPS. Sell-side analysts predict that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.21%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Genuine Parts Company 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.