6,875 Shares in Genuine Parts Company (NYSE:GPC) Bought by LMG Wealth Partners LLC

LMG Wealth Partners LLC acquired a new position in 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 fund acquired 6,875 shares of the specialty retailer's stock, valued at approximately $819,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Strategic Wealth Partners Ltd. boosted its position in Genuine Parts by 4.2% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock worth $302,000 after purchasing an additional 98 shares during the last quarter. Keybank National Association OH boosted its holdings in shares of Genuine Parts by 0.5% in the first quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer's stock worth $2,486,000 after buying an additional 98 shares during the last quarter. Veracity Capital LLC increased its holdings in Genuine Parts by 4.9% during the first quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer's stock valued at $256,000 after buying an additional 100 shares during the last quarter. Gallagher Fiduciary Advisors LLC increased its holdings in Genuine Parts by 4.7% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 2,647 shares of the specialty retailer's stock valued at $309,000 after buying an additional 118 shares during the last quarter. Finally, Investors Research Corp raised its position in Genuine Parts by 75.3% in the first 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. Institutional investors own 78.83% of the company's stock.

Genuine Parts Price Performance

NYSE GPC traded up $0.32 during trading hours on Wednesday, reaching $122.55. The company's stock had a trading volume of 784,575 shares, compared to its average volume of 1,298,850. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $149.22. The company has a quick ratio of 0.52, a current ratio of 1.15 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $17.01 billion, a price-to-earnings ratio of 20.12 and a beta of 0.74. The firm's 50-day moving average price is $123.88 and its 200-day moving average price is $120.49.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.09. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. The firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.83 billion. On average, equities research analysts predict that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.36%. Genuine Parts's payout ratio is 67.65%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GPC shares. Wall Street Zen downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Evercore ISI reduced their price target on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Truist Financial raised their price objective on Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. The Goldman Sachs Group reiterated a "sell" rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Finally, Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Genuine Parts currently has an average rating of "Moderate Buy" and a consensus price target of $130.86.

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.