Berkeley Capital Partners LLC Buys 4,152 Shares of Genuine Parts Company (NYSE:GPC)

Berkeley Capital Partners LLC grew its position in Genuine Parts Company (NYSE:GPC - Free Report) by 106.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,037 shares of the specialty retailer's stock after purchasing an additional 4,152 shares during the period. Berkeley Capital Partners LLC's holdings in Genuine Parts were worth $958,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GPC. Rossby Financial LCC acquired a new stake in shares of Genuine Parts in the first quarter valued at about $25,000. Millstone Evans Group LLC bought a new stake in Genuine Parts in the fourth quarter valued at approximately $25,000. Olde Wealth Management LLC bought a new stake in Genuine Parts in the first quarter valued at approximately $27,000. North Capital Inc. bought a new stake in Genuine Parts in the first quarter valued at approximately $28,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Genuine Parts in the fourth quarter valued at approximately $33,000. 78.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Argus raised Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Evercore ISI cut their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Truist Financial increased their price target on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. The Goldman Sachs Group reiterated a "sell" rating and issued a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Finally, Wall Street Zen lowered Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Genuine Parts has an average rating of "Moderate Buy" and an average target price of $130.86.

Genuine Parts Stock Down 0.6%

NYSE GPC traded down $0.71 during trading hours on Friday, hitting $122.82. The company's stock had a trading volume of 1,460,565 shares, compared to its average volume of 1,293,006. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $149.22. The company has a market capitalization of $17.05 billion, a PE ratio of 20.17 and a beta of 0.74. The company has a current ratio of 1.15, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85. The company's 50-day simple moving average is $124.24 and its two-hundred day simple moving average is $120.63.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 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 net margin of 3.60% and a return on equity of 23.71%. 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 disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Friday, June 6th were paid a $1.03 dividend. The ex-dividend date was Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.35%. Genuine Parts's dividend payout ratio is 67.65%.

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.