Buck Wealth Strategies LLC Takes $942,000 Position in Genuine Parts Company (NYSE:GPC)

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

A number of other large investors also recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in Genuine Parts by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer's stock worth $391,604,000 after purchasing an additional 65,783 shares during the period. Invesco Ltd. increased its stake in Genuine Parts by 18.9% during the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock worth $380,898,000 after buying an additional 518,851 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Genuine Parts by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock worth $337,428,000 after buying an additional 145,960 shares in the last quarter. Stifel Financial Corp increased its stake in Genuine Parts by 21.6% during the 4th quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock worth $292,233,000 after buying an additional 445,259 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Genuine Parts by 5.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer's stock worth $249,426,000 after buying an additional 104,343 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Trading Up 0.6%

Genuine Parts stock traded up $0.76 during mid-day trading on Friday, hitting $119.63. The company's stock had a trading volume of 1,665,367 shares, compared to its average volume of 1,300,379. The firm has a market capitalization of $16.60 billion, a PE ratio of 19.64 and a beta of 0.76. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $149.22. 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 stock's fifty day moving average is $121.28 and its two-hundred day moving average is $119.99.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $5.83 billion. On average, analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Friday, June 6th. Genuine Parts's dividend payout ratio (DPR) is 67.65%.

Analysts Set New Price Targets

Several equities research analysts have commented on GPC shares. Argus upgraded Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. The Goldman Sachs Group reiterated a "sell" rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Evercore ISI dropped their price target on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Truist Financial upped their price target on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Finally, Wall Street Zen lowered Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.