Tounjian Advisory Partners LLC Makes New $271,000 Investment in Genuine Parts (NYSE:GPC)

Tounjian Advisory Partners LLC bought a new position in Genuine Parts (NYSE:GPC - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 2,272 shares of the specialty retailer's stock, valued at approximately $271,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Strategic Wealth Partners Ltd. increased its stake in shares of Genuine Parts by 4.2% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock worth $302,000 after acquiring an additional 98 shares during the last quarter. Veracity Capital LLC grew its holdings in shares of Genuine Parts by 4.9% during the 1st quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer's stock worth $256,000 after purchasing an additional 100 shares during the period. New York Life Investment Management LLC grew its holdings in shares of Genuine Parts by 0.6% during the 4th quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer's stock worth $2,188,000 after purchasing an additional 108 shares during the period. Pinnacle Financial Partners Inc grew its holdings in shares of Genuine Parts by 2.5% during the 4th quarter. Pinnacle Financial Partners Inc now owns 4,630 shares of the specialty retailer's stock worth $541,000 after purchasing an additional 115 shares during the period. Finally, Gallagher Fiduciary Advisors LLC grew its holdings in shares of Genuine Parts by 4.7% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 2,647 shares of the specialty retailer's stock worth $309,000 after purchasing an additional 118 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Down 2.6%

Shares of GPC traded down $3.25 during midday trading on Wednesday, hitting $123.29. The company had a trading volume of 980,038 shares, compared to its average volume of 1,291,149. The company's 50-day simple moving average is $119.94 and its 200-day simple moving average is $120.38. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The firm has a market capitalization of $17.11 billion, a P/E ratio of 19.06 and a beta of 0.76. Genuine Parts has a 1 year low of $104.01 and a 1 year high of $149.22.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.09. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. As a group, sell-side analysts expect that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Friday, June 6th. Genuine Parts's dividend payout ratio (DPR) is presently 67.65%.

Wall Street Analysts Forecast Growth

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