Genuine Parts Company (NYSE:GPC) Holdings Boosted by Country Club Bank

Country Club Bank increased its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 25.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,100 shares of the specialty retailer's stock after purchasing an additional 9,576 shares during the period. Country Club Bank's holdings in Genuine Parts were worth $5,580,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Hunter Associates Investment Management LLC boosted its position in Genuine Parts by 22.5% during the 1st quarter. Hunter Associates Investment Management LLC now owns 19,150 shares of the specialty retailer's stock worth $2,280,000 after purchasing an additional 3,517 shares during the period. Telos Capital Management Inc. boosted its position in Genuine Parts by 1.8% during the 1st quarter. Telos Capital Management Inc. now owns 40,895 shares of the specialty retailer's stock worth $4,872,000 after purchasing an additional 713 shares during the period. Allworth Financial LP boosted its position in Genuine Parts by 7.3% during the 1st quarter. Allworth Financial LP now owns 3,641 shares of the specialty retailer's stock worth $426,000 after purchasing an additional 247 shares during the period. Parr Mcknight Wealth Management Group LLC boosted its position in Genuine Parts by 153.0% during the 1st quarter. Parr Mcknight Wealth Management Group LLC now owns 10,020 shares of the specialty retailer's stock worth $1,194,000 after purchasing an additional 6,060 shares during the period. Finally, Axxcess Wealth Management LLC purchased a new stake in Genuine Parts during the 1st quarter worth $289,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 1.2%

Shares of Genuine Parts stock traded down $1.49 during trading on Friday, reaching $124.53. The company had a trading volume of 896,087 shares, compared to its average volume of 1,303,610. The company has a market cap of $17.28 billion, a price-to-earnings ratio of 20.45 and a beta of 0.74. The firm's fifty day moving average is $123.67 and its 200-day moving average is $120.38. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.52 and a current ratio of 1.15. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week 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, beating analysts' consensus estimates of $1.66 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. On average, analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.31%. Genuine Parts's dividend payout ratio is currently 67.65%.

Analysts Set New Price Targets

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