Genuine Parts (NYSE:GPC) Position Boosted by Focus Partners Wealth

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

Several other large investors have also modified their holdings of the stock. Hartford Financial Management Inc. lifted its position in shares of Genuine Parts by 0.5% during the fourth quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock worth $2,185,000 after purchasing an additional 99 shares during the last quarter. New York Life Investment Management LLC raised its stake in Genuine Parts by 0.6% during the fourth quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer’s stock worth $2,188,000 after acquiring an additional 108 shares during the period. Grimes & Company Inc. raised its stake in Genuine Parts by 3.3% during the fourth quarter. Grimes & Company Inc. now owns 3,494 shares of the specialty retailer’s stock worth $408,000 after acquiring an additional 111 shares during the period. Pinnacle Financial Partners Inc raised its stake in Genuine Parts by 2.5% during the fourth quarter. Pinnacle Financial Partners Inc now owns 4,630 shares of the specialty retailer’s stock worth $541,000 after acquiring an additional 115 shares during the period. Finally, Gallagher Fiduciary Advisors LLC raised its stake in Genuine Parts by 4.7% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 2,647 shares of the specialty retailer’s stock worth $309,000 after acquiring an additional 118 shares during the period. Institutional investors own 78.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group reiterated a “sell” rating and set a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. Truist Financial raised their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, Evercore ISI dropped their price target on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Genuine Parts presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.86.

Genuine Parts Price Performance

NYSE GPC opened at $121.29 on Wednesday. Genuine Parts has a 12 month low of $104.01 and a 12 month high of $158.65. 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 has a market capitalization of $16.83 billion, a PE ratio of 18.75 and a beta of 0.76. The company’s 50 day simple moving average is $117.82 and its 200 day simple moving average is $119.53.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.09. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. As a group, equities research analysts forecast that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

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

About Genuine Parts

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.