Axxcess Wealth Management LLC Purchases New Holdings in Genuine Parts Company (NYSE:GPC)

Axxcess Wealth Management LLC purchased 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 disclosure with the SEC. The fund purchased 2,422 shares of the specialty retailer's stock, valued at approximately $289,000.

Several other institutional investors have also recently made changes to their positions in GPC. HighTower Advisors LLC increased its position in Genuine Parts by 21.5% during the fourth quarter. HighTower Advisors LLC now owns 127,872 shares of the specialty retailer's stock worth $14,930,000 after buying an additional 22,585 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Genuine Parts by 15.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 96,699 shares of the specialty retailer's stock worth $11,291,000 after acquiring an additional 12,610 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Genuine Parts by 1.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,512 shares of the specialty retailer's stock worth $877,000 after acquiring an additional 128 shares during the last quarter. Royce & Associates LP raised its stake in Genuine Parts by 16.0% in the 4th quarter. Royce & Associates LP now owns 14,500 shares of the specialty retailer's stock valued at $1,693,000 after acquiring an additional 2,000 shares during the period. Finally, SlateStone Wealth LLC lifted its holdings in Genuine Parts by 3.5% during the 4th quarter. SlateStone Wealth LLC now owns 5,955 shares of the specialty retailer's stock valued at $695,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Trading Down 1.2%

Shares of NYSE:GPC opened at $124.53 on Monday. The business's 50 day simple moving average is $123.67 and its 200 day simple moving average is $120.42. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $149.22. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.15 and a quick ratio of 0.52. The company has a market capitalization of $17.28 billion, a P/E ratio of 20.45 and a beta of 0.74.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.09. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. On average, research analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.31%. The ex-dividend date was Friday, June 6th. Genuine Parts's payout ratio is presently 67.65%.

Analyst Upgrades and Downgrades

GPC has been the topic of several research analyst reports. Wall Street Zen lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Truist Financial increased their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a report on Thursday, April 24th. The Goldman Sachs Group restated a "sell" rating and set a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Argus raised Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Finally, 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 note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Genuine Parts has a consensus rating of "Moderate Buy" and a consensus price target of $130.86.

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.

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