FDx Advisors Inc. Purchases New Holdings in Genuine Parts Company (NYSE:GPC)

FDx Advisors Inc. purchased a new stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,022 shares of the specialty retailer's stock, valued at approximately $241,000.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Genuine Parts by 12.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer's stock worth $198,338,000 after purchasing an additional 182,965 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Genuine Parts by 436.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer's stock valued at $3,672,000 after buying an additional 25,583 shares during the period. Parvin Asset Management LLC purchased a new position in shares of Genuine Parts during the 4th quarter valued at $1,320,000. FORA Capital LLC grew its holdings in shares of Genuine Parts by 410.9% during the 4th quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer's stock valued at $3,075,000 after acquiring an additional 21,178 shares in the last quarter. Finally, Bastion Asset Management Inc. purchased a new position in shares of Genuine Parts during the 4th quarter valued at $3,391,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on GPC. Truist Financial boosted their target price on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Wall Street Zen downgraded Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Evercore ISI lowered their price target on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group reaffirmed a "sell" rating and set a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Finally, Argus raised shares of Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, five have issued 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, the stock has an average rating of "Moderate Buy" and an average target price of $130.86.

Genuine Parts Stock Performance

Shares of NYSE:GPC traded down $1.38 during trading on Monday, reaching $123.17. The stock had a trading volume of 86,072 shares, compared to its average volume of 1,429,072. The company has a quick ratio of 0.52, a current ratio of 1.15 and a debt-to-equity ratio of 0.85. The stock has a fifty day simple moving average of $123.67 and a two-hundred day simple moving average of $120.42. The firm has a market capitalization of $17.09 billion, a price-to-earnings ratio of 20.22 and a beta of 0.74. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $149.22.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly 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 company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.83 billion. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. As a group, analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th were given a $1.03 dividend. The ex-dividend date was Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.35%. Genuine Parts's dividend payout ratio is 67.65%.

Genuine Parts Company 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.