Genuine Parts Company (NYSE:GPC) Stock Holdings Lessened by Albion Financial Group UT

Albion Financial Group UT reduced its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 24.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 20,008 shares of the specialty retailer's stock after selling 6,336 shares during the quarter. Albion Financial Group UT's holdings in Genuine Parts were worth $2,384,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Millstone Evans Group LLC acquired a new stake in shares of Genuine Parts in the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Genuine Parts in the 4th quarter worth about $33,000. OFI Invest Asset Management acquired a new stake in shares of Genuine Parts in the 4th quarter worth about $34,000. Investors Research Corp increased its holdings in shares of Genuine Parts by 75.3% in the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 125 shares during the period. Finally, Golden State Wealth Management LLC increased its holdings 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 acquiring an additional 318 shares during the period. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Stock Up 1.2%

NYSE GPC opened at $120.47 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.15 and a quick ratio of 0.52. The company's 50 day simple moving average is $121.89 and its 200 day simple moving average is $119.83. 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 $16.72 billion, a P/E ratio of 19.78 and a beta of 0.76.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $5.83 billion. Equities research analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be issued a $1.03 dividend. The ex-dividend date is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.42%. Genuine Parts's payout ratio is currently 67.65%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Evercore ISI lowered their target price on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial raised their target price on shares of Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Argus raised shares of Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Genuine Parts presently has an average rating of "Moderate Buy" and a consensus target price of $130.86.

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.

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