Allen Capital Group LLC Takes $5.24 Million Position in Genuine Parts Company (NYSE:GPC)

Allen Capital Group LLC acquired a new position in shares of Genuine Parts Company (NYSE:GPC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 44,008 shares of the specialty retailer's stock, valued at approximately $5,243,000.

Other institutional investors also recently bought and sold shares of the company. Rossby Financial LCC purchased a new position in shares of Genuine Parts in the 1st quarter valued at $25,000. Millstone Evans Group LLC purchased a new position in shares of Genuine Parts in the 4th quarter valued at $25,000. Olde Wealth Management LLC purchased a new position in shares of Genuine Parts in the 1st quarter valued at $27,000. North Capital Inc. purchased a new position in shares of Genuine Parts in the 1st quarter valued at $28,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Genuine Parts in the 4th quarter valued at $33,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GPC. Argus upgraded Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. 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 report on Tuesday, April 1st. Truist Financial boosted their price objective on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Evercore ISI decreased their price objective 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, Wall Street Zen cut Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $130.86.

Genuine Parts Stock Performance

Shares of GPC traded up $1.01 during mid-day trading on Thursday, hitting $123.56. 945,075 shares of the company's stock were exchanged, compared to its average volume of 1,297,441. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $149.22. The firm has a market capitalization of $17.15 billion, a P/E ratio of 20.29 and a beta of 0.74. The business's 50 day moving average is $124.02 and its two-hundred day moving average is $120.50. The company has a current ratio of 1.15, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.09. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. On average, equities analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th were paid a dividend of $1.03 per share. The ex-dividend date was Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.33%. Genuine Parts's dividend payout ratio (DPR) 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.