Kovitz Investment Group Partners LLC Buys 5,418 Shares of Genuine Parts Company (NYSE:GPC)

Kovitz Investment Group Partners LLC increased its holdings in shares of Genuine Parts Company (NYSE:GPC) by 19.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,710 shares of the specialty retailer’s stock after buying an additional 5,418 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Genuine Parts were worth $4,016,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Pinnacle Associates Ltd. raised its stake in Genuine Parts by 2.8% during the 1st quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer’s stock worth $402,000 after buying an additional 93 shares during the period. Strategic Wealth Partners Ltd. raised its stake in Genuine Parts by 4.2% during the 4th quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer’s stock worth $302,000 after buying an additional 98 shares during the period. Keybank National Association OH raised its stake in Genuine Parts by 0.5% during the 1st quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer’s stock worth $2,486,000 after buying an additional 98 shares during the period. Veracity Capital LLC raised its stake in Genuine Parts by 4.9% during the 1st quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer’s stock worth $256,000 after buying an additional 100 shares during the period. Finally, Gallagher Fiduciary Advisors LLC raised its stake in shares of Genuine Parts by 4.7% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 2,647 shares of the specialty retailer’s stock valued at $309,000 after purchasing an additional 118 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $137.79 on Friday. The business’s 50 day moving average price is $126.96 and its two-hundred day moving average price is $122.78. The company has a market cap of $19.17 billion, a PE ratio of 23.72 and a beta of 0.75. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $144.49.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter in the previous year, the business earned $2.44 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. On average, analysts predict that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, September 5th. Genuine Parts’s payout ratio is 70.91%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Truist Financial lifted their price target on Genuine Parts from $137.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Argus raised Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. Evercore ISI dropped their price target on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Wall Street Zen downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. Finally, UBS Group lifted their price target on Genuine Parts from $125.00 to $135.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $135.29.

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.