2,199 Shares in Genuine Parts Company (NYSE:GPC) Bought by 49 Wealth Management LLC

49 Wealth Management LLC acquired a new position in shares of Genuine Parts Company (NYSE:GPC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,199 shares of the specialty retailer's stock, valued at approximately $262,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Crossmark Global Holdings Inc. raised its holdings in Genuine Parts by 27.2% during the 1st quarter. Crossmark Global Holdings Inc. now owns 9,165 shares of the specialty retailer's stock worth $1,092,000 after buying an additional 1,957 shares during the period. U.S. Capital Wealth Advisors LLC increased its holdings in shares of Genuine Parts by 23.3% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 90,376 shares of the specialty retailer's stock valued at $10,767,000 after purchasing an additional 17,089 shares during the period. Raleigh Capital Management Inc. lifted its position in shares of Genuine Parts by 45.2% in the first quarter. Raleigh Capital Management Inc. now owns 973 shares of the specialty retailer's stock worth $116,000 after purchasing an additional 303 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Genuine Parts by 0.9% in the first quarter. Envestnet Asset Management Inc. now owns 536,944 shares of the specialty retailer's stock worth $63,971,000 after purchasing an additional 4,928 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its position in shares of Genuine Parts by 4.6% in the first quarter. Concurrent Investment Advisors LLC now owns 13,979 shares of the specialty retailer's stock worth $1,665,000 after purchasing an additional 612 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Wall Street Analyst Weigh In

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

Genuine Parts Stock Performance

Shares of NYSE:GPC traded down $1.49 during trading on Friday, reaching $124.53. The stock had a trading volume of 894,544 shares, compared to its average volume of 1,303,052. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $149.22. The firm has a market capitalization of $17.28 billion, a price-to-earnings ratio of 20.45 and a beta of 0.74. The company has a quick ratio of 0.52, a current ratio of 1.15 and a debt-to-equity ratio of 0.85. The stock has a fifty day simple moving average of $123.59 and a two-hundred day simple moving average of $120.33.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings results 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 3.60% and a return on equity of 23.71%. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. As a group, analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th were paid a $1.03 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.31%. Genuine Parts's payout ratio is 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.