Financial Advisors Network Inc. Acquires New Stake in Genuine Parts Company $GPC

Key Points

• Financial Advisors Network Inc. has acquired a new stake in Genuine Parts Company, purchasing 1,913 shares valued at approximately $228,000.
• Genuine Parts reported earnings of $2.10 EPS for the latest quarter, surpassing expectations with a revenue of $6.16 billion.
• Recent analyst ratings show a mixed outlook, with price targets ranging from $130.00 to $160.00, indicating an overall consensus rating of "Hold."

Financial Advisors Network Inc. bought a new position in Genuine Parts Company (NYSE:GPC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,913 shares of the specialty retailer's stock, valued at approximately $228,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Rossby Financial LCC purchased a new position in shares of Genuine Parts in the first quarter worth approximately $25,000. Olde Wealth Management LLC bought a new position in Genuine Parts in the first quarter worth approximately $27,000. North Capital Inc. purchased a new position in shares of Genuine Parts during the 1st quarter worth $28,000. Investors Research Corp grew its position in shares of Genuine Parts by 75.3% during the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 125 shares during the period. Finally, Golden State Wealth Management LLC increased its stake in shares of Genuine Parts by 7,950.0% in the 1st 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 in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GPC. Evercore ISI lowered their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Loop Capital raised their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. boosted their price objective on Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Wall Street Zen lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. Finally, UBS Group lifted their price target on shares of Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $135.29.

Genuine Parts Stock Down 0.4%

NYSE GPC opened at $137.31 on Tuesday. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $144.49. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The stock has a market cap of $19.10 billion, a PE ratio of 23.63 and a beta of 0.75. The stock's 50 day moving average is $127.20 and its 200 day moving average is $122.96.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, topping the consensus estimate of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The company's quarterly revenue was up 3.4% compared to the same quarter last year. Research 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 will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. Genuine Parts's dividend payout ratio is presently 70.91%.

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.

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