Genuine Parts Company (NYSE:GPC) Shares Acquired by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC increased its position in Genuine Parts Company (NYSE:GPC - Free Report) by 153.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,020 shares of the specialty retailer's stock after purchasing an additional 6,060 shares during the quarter. Parr Mcknight Wealth Management Group LLC's holdings in Genuine Parts were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of Genuine Parts by 12.1% in 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 period. Canada Pension Plan Investment Board boosted its stake 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 last quarter. Parvin Asset Management LLC bought a new position in Genuine Parts during the 4th quarter valued at $1,320,000. FORA Capital LLC boosted its stake 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 last quarter. Finally, Bastion Asset Management Inc. bought a new position in Genuine Parts during the 4th quarter valued at $3,391,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on GPC shares. 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. 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 downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Truist Financial raised their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Genuine Parts has a consensus rating of "Moderate Buy" and a consensus target price of $130.86.

Genuine Parts Stock Performance

Shares of Genuine Parts stock traded down $1.49 during trading hours on Friday, reaching $124.53. The company's stock had a trading volume of 896,087 shares, compared to its average volume of 1,303,610. The company's 50 day simple moving average is $123.59 and its 200 day simple moving average is $120.33. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.52 and a current ratio of 1.15. Genuine Parts Company has a one year low of $104.01 and a one year high of $149.22. The stock has a market cap of $17.28 billion, a P/E ratio of 20.45 and a beta of 0.74.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.09. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. As a group, analysts expect 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. Investors of record on Friday, June 6th were given a $1.03 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $4.12 annualized dividend and a yield of 3.31%. Genuine Parts's dividend payout ratio is presently 67.65%.

About Genuine Parts

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.