Parr Mcknight Wealth Management Group LLC Invests $462,000 in Genuine Parts (NYSE:GPC)

Parr Mcknight Wealth Management Group LLC acquired a new position in shares of Genuine Parts (NYSE:GPC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,960 shares of the specialty retailer's stock, valued at approximately $462,000.

A number of other hedge funds also recently made changes to their positions in GPC. Millstone Evans Group LLC bought a new stake in Genuine Parts in the fourth quarter worth $25,000. Kestra Investment Management LLC bought a new stake in Genuine Parts in the fourth quarter worth $28,000. First Command Advisory Services Inc. bought a new stake in Genuine Parts in the fourth quarter worth $28,000. Compass Planning Associates Inc bought a new stake in Genuine Parts in the fourth quarter worth $29,000. Finally, Synergy Asset Management LLC bought a new stake in Genuine Parts in the fourth quarter worth $32,000. 78.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

GPC has been the topic of a number of analyst reports. Wall Street Zen cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Truist Financial increased their target price on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. The Goldman Sachs Group reiterated a "sell" rating and set a $114.00 target price (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Finally, Evercore ISI dropped their target price 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $130.86.

Genuine Parts Stock Up 0.9%

Shares of GPC traded up $1.15 on Tuesday, hitting $127.36. 1,146,070 shares of the stock traded hands, compared to its average volume of 1,282,984. Genuine Parts has a one year low of $104.01 and a one year high of $149.22. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The business has a 50 day simple moving average of $118.35 and a 200 day simple moving average of $120.09. The company has a market capitalization of $17.68 billion, a PE ratio of 19.69 and a beta of 0.76.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.09. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.83 billion. As a group, equities analysts forecast that Genuine Parts will post 7.9 earnings per share 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 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts's dividend payout ratio is currently 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.