Azzad Asset Management Inc. ADV Acquires Shares of 34,387 Genuine Parts (NYSE:GPC)

Azzad Asset Management Inc. ADV purchased a new position in Genuine Parts (NYSE:GPC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 34,387 shares of the specialty retailer's stock, valued at approximately $4,097,000.

Other large investors also recently modified their holdings of the company. Elevation Point Wealth Partners LLC grew its stake in shares of Genuine Parts by 74.1% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 4,990 shares of the specialty retailer's stock valued at $595,000 after purchasing an additional 2,124 shares during the period. Verity & Verity LLC boosted its holdings in shares of Genuine Parts by 11.2% in the first quarter. Verity & Verity LLC now owns 116,171 shares of the specialty retailer's stock worth $13,841,000 after buying an additional 11,698 shares during the last quarter. Birch Capital Management LLC grew its position in Genuine Parts by 20.9% during the first quarter. Birch Capital Management LLC now owns 18,952 shares of the specialty retailer's stock valued at $2,258,000 after buying an additional 3,278 shares during the period. Davis Investment Partners LLC bought a new stake in Genuine Parts during the first quarter valued at approximately $680,000. Finally, Fifth Third Bancorp increased its holdings in Genuine Parts by 4.6% during the first quarter. Fifth Third Bancorp now owns 15,628 shares of the specialty retailer's stock valued at $1,862,000 after buying an additional 683 shares during the last quarter. Institutional investors own 78.83% of the company's stock.

Genuine Parts Price Performance

GPC traded up $0.76 during trading on Monday, hitting $120.44. 1,351,818 shares of the company traded hands, compared to its average volume of 1,296,318. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The company has a market cap of $16.72 billion, a PE ratio of 18.62 and a beta of 0.76. The stock's 50-day simple moving average is $120.88 and its two-hundred day simple moving average is $120.16. Genuine Parts has a 1 year low of $104.01 and a 1 year high of $149.22.

Genuine Parts (NYSE:GPC - Get Free Report) last issued 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. The firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. As a group, sell-side analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Friday, June 6th. Genuine Parts's dividend payout ratio (DPR) is presently 67.65%.

Analyst Ratings Changes

Several brokerages have recently weighed in on GPC. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. 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 report on Wednesday, April 23rd. The Goldman Sachs Group restated a "sell" rating and issued 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 raised their price objective on Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Finally, Wall Street Zen downgraded Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $130.86.

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.