Genuine Parts (NYSE:GPC) Shares Bought by Focus Partners Wealth

Focus Partners Wealth raised its holdings in Genuine Parts (NYSE:GPC) by 4.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 55,878 shares of the specialty retailer’s stock after acquiring an additional 2,634 shares during the period. Focus Partners Wealth’s holdings in Genuine Parts were worth $6,524,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in Genuine Parts by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer’s stock valued at $391,604,000 after acquiring an additional 65,783 shares during the last quarter. Invesco Ltd. raised its holdings in Genuine Parts by 18.9% in the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer’s stock valued at $380,898,000 after acquiring an additional 518,851 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Genuine Parts by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer’s stock valued at $337,428,000 after acquiring an additional 145,960 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Genuine Parts by 21.6% during the 4th quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer’s stock worth $292,233,000 after buying an additional 445,259 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Genuine Parts by 5.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer’s stock worth $249,426,000 after buying an additional 104,343 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Down 0.6%

Shares of Genuine Parts stock opened at $121.29 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The company has a fifty day moving average price of $117.82 and a 200 day moving average price of $119.53. The stock has a market cap of $16.83 billion, a price-to-earnings ratio of 18.75 and a beta of 0.76. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $158.65.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.09. The company 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 forecast that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be given a $1.03 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.40%. Genuine Parts’s payout ratio is currently 67.65%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. The Goldman Sachs Group restated a “sell” rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Evercore ISI dropped their price objective on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Argus upgraded Genuine Parts to a “strong-buy” rating in a report on Friday, April 25th. Truist Financial upped their price objective on Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Finally, Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Genuine Parts presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.86.

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.