Parr Mcknight Wealth Management Group LLC Buys Shares of 3,960 Genuine Parts (NYSE:GPC)

Parr Mcknight Wealth Management Group LLC bought a new stake in Genuine Parts (NYSE:GPC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,960 shares of the specialty retailer's stock, valued at approximately $462,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GPC. Geode Capital Management LLC boosted its position in shares of Genuine Parts by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer's stock worth $391,604,000 after buying an additional 65,783 shares during the period. Invesco Ltd. lifted its holdings in Genuine Parts by 18.9% during the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock worth $380,898,000 after buying an additional 518,851 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Genuine Parts by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock worth $337,428,000 after buying an additional 145,960 shares during the last quarter. Stifel Financial Corp lifted its holdings in 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. raised its position 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 purchasing an additional 104,343 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

Shares of Genuine Parts stock traded down $0.24 during trading on Thursday, reaching $125.70. The company's stock had a trading volume of 254,934 shares, compared to its average volume of 1,279,464. 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's fifty day moving average price is $118.62 and its 200-day moving average price is $120.18. The firm has a market cap of $17.45 billion, a price-to-earnings ratio of 19.43 and a beta of 0.76. Genuine Parts has a one year low of $104.01 and a one year high of $149.22.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.09. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. As a group, equities research analysts predict that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.28%. Genuine Parts's dividend payout ratio (DPR) is presently 67.65%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GPC shares. Wall Street Zen cut Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Evercore ISI lowered their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Truist Financial increased their price target on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Finally, Argus raised 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 assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.