28,071 Shares in Genuine Parts Company (NYSE:GPC) Purchased by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC acquired a new stake 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. The firm acquired 28,071 shares of the specialty retailer's stock, valued at approximately $3,344,000.

Several other hedge funds also recently made changes to their positions in GPC. Invesco LLC lifted its position in shares of Genuine Parts by 14.0% in the first quarter. Invesco LLC now owns 18,454 shares of the specialty retailer's stock worth $2,199,000 after purchasing an additional 2,265 shares in the last quarter. AssuredPartners Investment Advisors LLC acquired a new position in Genuine Parts in the first quarter worth approximately $304,000. Asset Management One Co. Ltd. raised its position in Genuine Parts by 6.2% during the first quarter. Asset Management One Co. Ltd. now owns 61,297 shares of the specialty retailer's stock valued at $7,303,000 after acquiring an additional 3,567 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in shares of Genuine Parts by 1.1% during the 1st quarter. GHP Investment Advisors Inc. now owns 48,120 shares of the specialty retailer's stock valued at $5,733,000 after purchasing an additional 523 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in Genuine Parts by 33.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 156,362 shares of the specialty retailer's stock valued at $18,629,000 after buying an additional 38,897 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on GPC. Evercore ISI dropped their target price on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. Truist Financial upped their price objective on shares of Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. The Goldman Sachs Group restated a "sell" rating and set a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Finally, Argus raised Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. One 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $130.86.

Genuine Parts Trading Down 1.7%

Shares of GPC stock traded down $2.06 on Wednesday, reaching $119.14. 681,118 shares of the stock were exchanged, compared to its average volume of 1,297,604. The stock has a 50 day moving average price of $121.52 and a 200 day moving average price of $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. The stock has a market cap of $16.54 billion, a PE ratio of 19.56 and a beta of 0.76.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.09. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. The firm had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.83 billion. Equities research analysts forecast that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

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

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.