Archer Investment Corp Buys Shares of 4,600 Genuine Parts Company (NYSE:GPC)

Archer Investment Corp bought a new stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,600 shares of the specialty retailer's stock, valued at approximately $548,000.

Several other institutional investors also recently bought and sold shares of the stock. Strategic Wealth Partners Ltd. boosted its position in shares of Genuine Parts by 4.2% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock worth $302,000 after acquiring an additional 98 shares during the last quarter. Keybank National Association OH increased its position in Genuine Parts by 0.5% during the 1st quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer's stock valued at $2,486,000 after purchasing an additional 98 shares during the period. Veracity Capital LLC increased its position in Genuine Parts by 4.9% during the 1st quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer's stock valued at $256,000 after purchasing an additional 100 shares during the period. Gallagher Fiduciary Advisors LLC increased its position in Genuine Parts by 4.7% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 2,647 shares of the specialty retailer's stock valued at $309,000 after purchasing an additional 118 shares during the period. Finally, Investors Research Corp grew its position in shares of Genuine Parts by 75.3% in the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock worth $35,000 after buying an additional 125 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Down 0.3%

Genuine Parts stock traded down $0.37 during mid-day trading on Friday, hitting $123.16. The company had a trading volume of 64,221 shares, compared to its average volume of 1,294,061. The stock has a market cap of $17.09 billion, a price-to-earnings ratio of 20.21 and a beta of 0.74. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $149.22. 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 business has a fifty day moving average of $124.14 and a 200 day moving average of $120.56.

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

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Friday, June 6th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend was Friday, June 6th. Genuine Parts's dividend payout ratio is presently 67.65%.

Analyst Ratings Changes

Several analysts have commented on the stock. Wall Street Zen cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Argus raised shares of Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Truist Financial boosted their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. The Goldman Sachs Group reissued 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. Finally, Evercore ISI lowered their price target on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.

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