Fiduciary Family Office LLC Takes $423,000 Position in Genuine Parts Company (NYSE:GPC)

Key Points

• Fiduciary Family Office LLC has taken a new position in Genuine Parts Company, acquiring 3,547 shares valued at approximately $423,000.
• Analysts have mixed perspectives on Genuine Parts, with price targets ranging from $130.00 to $145.00 and a consensus rating of "Hold."
• The company reported earnings of $2.10 per share in its latest quarter, exceeding estimates and indicating a 3.4% increase in revenue compared to the previous year.

Fiduciary Family Office LLC acquired a new position in shares of Genuine Parts Company (NYSE:GPC - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,547 shares of the specialty retailer's stock, valued at approximately $423,000.

A number of other hedge funds also recently made changes to their positions in GPC. Rossby Financial LCC bought a new stake in Genuine Parts in the first quarter worth $25,000. Olde Wealth Management LLC purchased a new position in shares of Genuine Parts during the first quarter valued at about $27,000. North Capital Inc. purchased a new stake in Genuine Parts in the first quarter worth about $28,000. Investors Research Corp grew its holdings in Genuine Parts by 75.3% in the first quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock worth $35,000 after purchasing an additional 125 shares during the period. Finally, Golden State Wealth Management LLC grew its holdings in Genuine Parts by 7,950.0% in the first quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock worth $38,000 after purchasing an additional 318 shares during the period. 78.83% of the stock is owned by institutional investors.

Genuine Parts Trading Up 1.0%

Shares of Genuine Parts stock traded up $1.37 during trading on Tuesday, hitting $134.77. The stock had a trading volume of 847,037 shares, compared to its average volume of 1,314,513. The firm's fifty day simple moving average is $126.25 and its 200-day simple moving average is $122.37. The stock has a market cap of $18.75 billion, a PE ratio of 23.20 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $144.49.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The company had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.10 billion. During the same quarter last year, the business posted $2.44 EPS. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. As a group, sell-side analysts expect that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.1%. Genuine Parts's dividend payout ratio is currently 70.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GPC shares. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Evercore ISI decreased 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. JPMorgan Chase & Co. increased their price objective on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Loop Capital increased their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $135.29.

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.