Genuine Parts (NYSE:GPC) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 126.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,674 shares of the specialty retailer's stock after purchasing an additional 63,981 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.08% of Genuine Parts worth $13,389,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in Genuine Parts by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock worth $257,124,000 after acquiring an additional 114,180 shares during the period. Pacer Advisors Inc. grew its holdings in Genuine Parts by 20.8% during the fourth quarter. Pacer Advisors Inc. now owns 12,701 shares of the specialty retailer's stock worth $1,483,000 after acquiring an additional 2,191 shares during the period. Perigon Wealth Management LLC grew its holdings in Genuine Parts by 25.8% during the fourth quarter. Perigon Wealth Management LLC now owns 3,954 shares of the specialty retailer's stock worth $472,000 after acquiring an additional 811 shares during the period. Forsta AP Fonden grew its holdings in Genuine Parts by 6.6% during the fourth quarter. Forsta AP Fonden now owns 33,900 shares of the specialty retailer's stock worth $3,958,000 after acquiring an additional 2,100 shares during the period. Finally, Synergy Asset Management LLC acquired a new position in Genuine Parts during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 78.83% of the company's stock.

Genuine Parts Price Performance

Shares of GPC traded down $0.44 during trading hours on Tuesday, reaching $127.83. 516,566 shares of the company traded hands, compared to its average volume of 1,287,284. 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 stock has a market capitalization of $17.74 billion, a PE ratio of 19.77 and a beta of 0.76. Genuine Parts has a fifty-two week low of $104.01 and a fifty-two week high of $149.22. The stock has a fifty day simple moving average of $119.11 and a 200 day simple moving average of $120.22.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. As a group, research analysts predict that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Friday, June 6th. Genuine Parts's payout ratio is currently 67.65%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Argus raised Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Truist Financial raised their price target on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Evercore ISI dropped 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. Wall Street Zen cut Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Finally, The Goldman Sachs Group restated a "sell" rating and issued a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus 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.