Buck Wealth Strategies LLC Buys Shares of 7,903 Genuine Parts Company (NYSE:GPC)

Buck Wealth Strategies LLC purchased a new position in shares of Genuine Parts Company (NYSE:GPC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,903 shares of the specialty retailer's stock, valued at approximately $942,000.

Several other hedge funds have also recently modified their holdings of GPC. Aspire Private Capital LLC lifted its stake in shares of Genuine Parts by 50.8% in the 1st quarter. Aspire Private Capital LLC now owns 3,001 shares of the specialty retailer's stock worth $358,000 after acquiring an additional 1,011 shares during the period. Stonegate Investment Group LLC raised its holdings in Genuine Parts by 2.8% during the first quarter. Stonegate Investment Group LLC now owns 14,510 shares of the specialty retailer's stock worth $1,729,000 after purchasing an additional 402 shares in the last quarter. Rockline Wealth Management LLC lifted its position in Genuine Parts by 4.3% in the first quarter. Rockline Wealth Management LLC now owns 27,595 shares of the specialty retailer's stock valued at $3,288,000 after purchasing an additional 1,140 shares during the period. DMKC Advisory Services LLC purchased a new stake in Genuine Parts in the 1st quarter valued at approximately $1,533,000. Finally, Meriwether Wealth & Planning LLC boosted its holdings in Genuine Parts by 10.5% in the 1st quarter. Meriwether Wealth & Planning LLC now owns 2,072 shares of the specialty retailer's stock valued at $247,000 after purchasing an additional 197 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Down 1.7%

Shares of NYSE:GPC traded down $2.06 during midday trading on Wednesday, reaching $119.14. The company had a trading volume of 681,118 shares, compared to its average volume of 1,300,228. The stock has a market capitalization of $16.54 billion, a P/E ratio of 19.56 and a beta of 0.76. The stock's fifty day moving average price is $121.52 and its 200-day moving average price is $119.95. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.15 and a quick ratio of 0.52. Genuine Parts Company has a one year low of $104.01 and a one year high of $149.22.

Genuine Parts (NYSE:GPC - Get Free Report) last announced 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 firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. Equities research analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.46%. Genuine Parts's payout ratio is currently 67.65%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GPC shares. 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 note on Wednesday, April 23rd. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Truist Financial upped their price target on Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Wall Street Zen lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. Finally, The Goldman Sachs Group reiterated a "sell" rating and set a $114.00 target price (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently 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.