2,551 Shares in Genuine Parts Company (NYSE:GPC) Bought by AssuredPartners Investment Advisors LLC

AssuredPartners Investment Advisors LLC acquired a new stake in Genuine Parts Company (NYSE:GPC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,551 shares of the specialty retailer's stock, valued at approximately $304,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Genuine Parts by 12.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer's stock valued at $198,338,000 after buying an additional 182,965 shares during the period. Canada Pension Plan Investment Board grew its position in Genuine Parts by 436.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer's stock valued at $3,672,000 after acquiring an additional 25,583 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $21,840,000. Parvin Asset Management LLC acquired a new position in shares of Genuine Parts during the fourth quarter worth $1,320,000. Finally, FORA Capital LLC boosted its stake in shares of Genuine Parts by 410.9% in the fourth quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer's stock valued at $3,075,000 after purchasing an additional 21,178 shares during the period. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Stock Down 0.0%

NYSE:GPC opened at $121.23 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.52 and a current ratio of 1.15. The company has a market capitalization of $16.83 billion, a price-to-earnings ratio of 19.91 and a beta of 0.76. Genuine Parts Company has a one year low of $104.01 and a one year high of $149.22. The stock has a 50-day simple moving average of $121.52 and a 200 day simple moving average of $119.95.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, topping analysts' consensus estimates of $1.66 by $0.09. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. Sell-side analysts predict that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders 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 annualized dividend and a yield of 3.40%. Genuine Parts's payout ratio is 67.65%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GPC. The Goldman Sachs Group reaffirmed a "sell" rating and set a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Truist Financial raised their target price on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Wall Street Zen lowered Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Evercore ISI reduced their price target on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Finally, Argus upgraded Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $130.86.

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.

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