Genuine Parts (NYSE:GPC) Stake Lifted by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC raised its stake in Genuine Parts (NYSE:GPC) by 10.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 14,733 shares of the specialty retailer’s stock after buying an additional 1,450 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Genuine Parts were worth $1,755,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GPC. Apollon Wealth Management LLC lifted its position in Genuine Parts by 6.6% in the 4th quarter. Apollon Wealth Management LLC now owns 3,921 shares of the specialty retailer’s stock valued at $458,000 after purchasing an additional 242 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Genuine Parts by 28.0% in the fourth quarter. Empowered Funds LLC now owns 33,253 shares of the specialty retailer’s stock valued at $3,883,000 after purchasing an additional 7,276 shares during the period. Savant Capital LLC raised its holdings in shares of Genuine Parts by 6.5% during the fourth quarter. Savant Capital LLC now owns 29,637 shares of the specialty retailer’s stock valued at $3,460,000 after buying an additional 1,819 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $45,000. Finally, SRH Advisors LLC boosted its position in shares of Genuine Parts by 50.0% during the fourth quarter. SRH Advisors LLC now owns 1,500 shares of the specialty retailer’s stock worth $175,000 after buying an additional 500 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on GPC shares. Wall Street Zen cut Genuine Parts from a “buy” rating to a “hold” rating in a research report on Saturday, April 26th. Truist Financial raised their price target on Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Evercore ISI reduced their price objective on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group reiterated a “sell” rating and issued a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Finally, Argus upgraded shares of Genuine Parts to a “strong-buy” rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.86.

Genuine Parts Stock Performance

Shares of GPC opened at $123.29 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The firm’s 50 day moving average is $120.07 and its 200-day moving average is $120.40. Genuine Parts has a 12-month low of $104.01 and a 12-month high of $149.22. The stock has a market capitalization of $17.11 billion, a P/E ratio of 19.06 and a beta of 0.76.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.09. The firm had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.83 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. Equities research analysts anticipate that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts’s payout ratio is 67.65%.

Genuine Parts 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.