5,850 Shares in Genuine Parts (NYSE:GPC) Purchased by Davis Investment Partners LLC

Davis Investment Partners LLC bought a new stake in Genuine Parts (NYSE:GPC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,850 shares of the specialty retailer's stock, valued at approximately $680,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millstone Evans Group LLC acquired a new stake in shares of Genuine Parts in the 4th quarter valued at $25,000. Kestra Investment Management LLC acquired a new stake in shares of Genuine Parts in the 4th quarter valued at $28,000. First Command Advisory Services Inc. bought a new position in shares of Genuine Parts in the 4th quarter worth $28,000. Compass Planning Associates Inc bought a new position in shares of Genuine Parts in the 4th quarter worth $29,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Genuine Parts in the 4th quarter worth $33,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on GPC. Argus upgraded Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Evercore ISI reduced their price target 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 raised their price target on Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research report 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. Finally, The Goldman Sachs Group restated 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Genuine Parts has an average rating of "Moderate Buy" and a consensus target price of $130.86.

Genuine Parts Trading Down 2.2%

GPC stock traded down $2.70 during midday trading on Friday, hitting $119.43. 1,231,217 shares of the company's stock were exchanged, compared to its average volume of 1,296,097. The stock's fifty day moving average price is $120.58 and its 200-day moving average price is $120.20. 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 company has a market cap of $16.58 billion, a PE ratio of 18.46 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 released 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 the consensus estimate of $5.83 billion. Research analysts predict that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts's dividend payout ratio is 67.65%.

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.