Horan Capital Advisors LLC. Takes $3.59 Million Position in Genuine Parts Company (NYSE:GPC)

Key Points

• Horan Capital Advisors LLC has established a new position in Genuine Parts Company, acquiring 30,162 shares valued at approximately $3.59 million during the first quarter.
• The company reported $2.10 EPS for the last quarter, surpassing expectations of $2.08, with a revenue increase of 3.4% year-over-year to $6.16 billion.
• Genuine Parts recently announced a $1.03 quarterly dividend, resulting in an annualized yield of 3.08% and a payout ratio of 70.91%.

Horan Capital Advisors LLC. purchased a new position in Genuine Parts Company (NYSE:GPC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 30,162 shares of the specialty retailer's stock, valued at approximately $3,594,000. Genuine Parts makes up 1.2% of Horan Capital Advisors LLC.'s portfolio, making the stock its 25th largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GPC. Rossby Financial LCC bought a new stake in shares of Genuine Parts during the first quarter valued at approximately $25,000. Olde Wealth Management LLC bought a new stake in shares of Genuine Parts during the first quarter valued at approximately $27,000. North Capital Inc. bought a new stake in shares of Genuine Parts during the first quarter valued at approximately $28,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $33,000. Finally, Investors Research Corp raised its stake in shares of Genuine Parts by 75.3% during the first quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

Wall Street Analyst Weigh In

GPC has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. UBS Group boosted their price objective on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Wall Street Zen downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. JPMorgan Chase & Co. boosted 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. Finally, Argus raised Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. One 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 given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $135.29.

Genuine Parts Price Performance

Shares of Genuine Parts stock traded down $2.64 during trading hours on Thursday, reaching $129.40. The stock had a trading volume of 756,622 shares, compared to its average volume of 1,429,173. The stock's 50 day moving average is $125.28 and its 200 day moving average is $121.46. The firm has a market capitalization of $18.00 billion, a PE ratio of 22.27 and a beta of 0.74. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $149.22. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. Genuine Parts's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company posted $2.44 EPS. Equities analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

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.