Janney Montgomery Scott LLC Acquires 40,346 Shares of Genuine Parts (NYSE:GPC)

Janney Montgomery Scott LLC increased its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 321,491 shares of the specialty retailer's stock after buying an additional 40,346 shares during the period. Janney Montgomery Scott LLC owned 0.23% of Genuine Parts worth $38,303,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of Genuine Parts by 12.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer's stock valued at $198,338,000 after purchasing an additional 182,965 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Genuine Parts by 436.0% in 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 buying an additional 25,583 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Genuine Parts in the 4th quarter valued at $21,840,000. Parvin Asset Management LLC bought a new position in Genuine Parts in the fourth quarter valued at about $1,320,000. Finally, FORA Capital LLC increased its position in Genuine Parts by 410.9% in the fourth quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer's stock worth $3,075,000 after purchasing an additional 21,178 shares during the period. Institutional investors own 78.83% of the company's stock.

Genuine Parts Price Performance

GPC opened at $120.44 on Tuesday. The stock has a market cap of $16.72 billion, a P/E ratio of 18.62 and a beta of 0.76. Genuine Parts has a 12 month low of $104.01 and a 12 month high of $149.22. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The company has a fifty day simple moving average of $120.88 and a 200 day simple moving average of $120.16.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly 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 return on equity of 25.28% and a net margin of 3.85%. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. On average, research analysts expect that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Friday, June 6th. Genuine Parts's dividend payout ratio (DPR) is presently 67.65%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Argus raised shares of Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Evercore ISI reduced their price objective 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. Wall Street Zen cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. The Goldman Sachs Group restated a "sell" rating and issued a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Finally, Truist Financial upped their price objective on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a report on Thursday, April 24th. One 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 stock. Based on data from MarketBeat.com, Genuine Parts presently has an average rating of "Moderate Buy" and a consensus price target 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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