Oak Thistle LLC Invests $615,000 in Genuine Parts Company (NYSE:GPC)

Oak Thistle LLC bought a new stake in Genuine Parts Company (NYSE:GPC - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 5,164 shares of the specialty retailer's stock, valued at approximately $615,000.

Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in Genuine Parts by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer's stock valued at $391,604,000 after buying an additional 65,783 shares during the last quarter. Invesco Ltd. increased its stake in Genuine Parts by 18.9% in the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock valued at $380,898,000 after buying an additional 518,851 shares during the last quarter. Stifel Financial Corp increased its stake in Genuine Parts by 21.6% in the 4th quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock valued at $292,233,000 after buying an additional 445,259 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Genuine Parts by 5.1% in the 4th quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer's stock valued at $249,426,000 after buying an additional 104,343 shares during the last quarter. Finally, Norges Bank purchased a new stake in Genuine Parts in the 4th quarter valued at about $206,645,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Down 1.0%

NYSE:GPC traded down $1.34 during mid-day trading on Monday, hitting $132.36. 194,831 shares of the company's stock were exchanged, compared to its average volume of 1,422,858. Genuine Parts Company has a one year low of $104.01 and a one year high of $149.22. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. The business has a fifty day moving average price of $124.96 and a 200 day moving average price of $121.18. The company has a market cap of $18.41 billion, a PE ratio of 22.81 and a beta of 0.74.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.02. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The business's revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.44 earnings per share. Equities analysts predict that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th were issued a dividend of $1.03 per share. The ex-dividend date was Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.11%. Genuine Parts's payout ratio is 70.91%.

Analysts Set New Price Targets

GPC has been the subject of several analyst reports. Evercore ISI decreased their price objective on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Loop Capital increased their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday. 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. Wall Street Zen downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Finally, Truist Financial increased their target price on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Genuine Parts has a consensus rating of "Hold" and an average price target of $135.29.

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.