Envestnet Asset Management Inc. Grows Stake in Genuine Parts Company (NYSE:GPC)

Envestnet Asset Management Inc. increased its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 536,944 shares of the specialty retailer's stock after purchasing an additional 4,928 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.39% of Genuine Parts worth $63,971,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Millstone Evans Group LLC bought a new stake in shares of Genuine Parts in the fourth quarter worth $25,000. Rossby Financial LCC bought a new stake in Genuine Parts during the first quarter valued at $25,000. Olde Wealth Management LLC bought a new stake in Genuine Parts during the first quarter valued at $27,000. North Capital Inc. bought a new stake in Genuine Parts during the first quarter valued at $28,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Genuine Parts during the fourth quarter valued at $33,000. Institutional investors own 78.83% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Truist Financial upped their price target 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 reaffirmed a "sell" rating and set a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Evercore ISI cut 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 report on Wednesday, April 23rd. Argus raised shares of Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Wall Street Zen cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $130.86.

Genuine Parts Stock Performance

Genuine Parts stock traded down $1.49 during mid-day trading on Friday, reaching $124.53. The company's stock had a trading volume of 896,087 shares, compared to its average volume of 1,303,610. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $149.22. The company has a market capitalization of $17.28 billion, a P/E ratio of 20.45 and a beta of 0.74. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.52 and a current ratio of 1.15. The firm's fifty day moving average price is $123.67 and its two-hundred day moving average price is $120.38.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share 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 business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. Sell-side analysts predict that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th were given a dividend of $1.03 per share. The ex-dividend date was Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.31%. Genuine Parts's dividend payout ratio (DPR) is currently 67.65%.

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.