Miramar Capital LLC Boosts Holdings in Genuine Parts (NYSE:GPC)

Miramar Capital LLC grew its position in Genuine Parts (NYSE:GPC - Free Report) by 9.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 87,802 shares of the specialty retailer's stock after acquiring an additional 7,845 shares during the period. Genuine Parts comprises approximately 2.9% of Miramar Capital LLC's investment portfolio, making the stock its 19th biggest position. Miramar Capital LLC owned approximately 0.06% of Genuine Parts worth $12,264,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Wulff Hansen & CO. raised its position in shares of Genuine Parts by 13,732.0% in the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer's stock worth $216,675,000 after acquiring an additional 1,555,149 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Genuine Parts by 21.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer's stock worth $189,296,000 after purchasing an additional 239,858 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Genuine Parts by 29.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer's stock worth $135,579,000 after purchasing an additional 223,712 shares in the last quarter. Hamlin Capital Management LLC grew its stake in Genuine Parts by 12.3% during the 3rd quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer's stock valued at $82,561,000 after acquiring an additional 64,520 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Genuine Parts by 14,222.1% during the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer's stock valued at $81,621,000 after acquiring an additional 580,262 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Stock Down 1.0 %

Genuine Parts stock traded down $1.23 during mid-day trading on Friday, reaching $122.62. 1,077,356 shares of the company's stock were exchanged, compared to its average volume of 1,057,741. The company has a market cap of $17.05 billion, a P/E ratio of 15.78 and a beta of 0.92. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The company has a fifty day moving average of $130.79 and a 200-day moving average of $138.44.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (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 quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.49 earnings per share. Sell-side analysts expect that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Friday, September 6th. Genuine Parts's dividend payout ratio is presently 51.48%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wedbush dropped their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a "neutral" rating for the company in a research note on Wednesday, October 23rd. Evercore ISI increased their price target 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. Truist Financial dropped their price target on shares of Genuine Parts from $164.00 to $129.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. The Goldman Sachs Group dropped their price target on shares of Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a research note on Wednesday, October 23rd. Finally, Redburn Atlantic raised shares of Genuine Parts to a "hold" rating in a research note on Monday, November 11th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $139.57.

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.