Greenleaf Trust Buys New Position in Genuine Parts Company (NYSE:GPC)

Greenleaf Trust bought a new stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,328 shares of the specialty retailer's stock, valued at approximately $277,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in Genuine Parts by 12.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer's stock valued at $198,338,000 after acquiring an additional 182,965 shares during the period. Canada Pension Plan Investment Board boosted its holdings in 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 acquiring an additional 25,583 shares during the period. Parvin Asset Management LLC purchased a new position in Genuine Parts during the 4th quarter valued at about $1,320,000. FORA Capital LLC boosted its holdings in 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 during the period. Finally, Bastion Asset Management Inc. purchased a new position in Genuine Parts during the 4th quarter valued at about $3,391,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Trading Down 1.2%

NYSE:GPC opened at $124.53 on Friday. The firm has a market cap of $17.28 billion, a P/E ratio of 20.45 and a beta of 0.74. The company has a current ratio of 1.15, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85. The stock's 50 day simple moving average is $123.67 and its 200-day simple moving average is $120.40. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $149.22.

Genuine Parts (NYSE:GPC - Get Free Report) last released its 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 business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. Equities analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Friday, June 6th were paid a $1.03 dividend. 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 presently 67.65%.

Analyst Ratings Changes

Several brokerages have recently issued reports on GPC. The Goldman Sachs Group reiterated a "sell" rating and issued a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Evercore ISI decreased their price objective 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. Truist Financial lifted their price objective 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 cut Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Finally, Argus upgraded Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.