Genuine Parts Company (NYSE:GPC) Stake Lessened by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC trimmed its position in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 27.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 82,829 shares of the specialty retailer's stock after selling 31,845 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.06% of Genuine Parts worth $9,868,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GPC. Millstone Evans Group LLC acquired a new position in shares of Genuine Parts during the fourth quarter worth approximately $25,000. First Command Advisory Services Inc. bought a new stake in Genuine Parts during the 4th quarter valued at $28,000. Aster Capital Management DIFC Ltd acquired a new position in Genuine Parts during the 4th quarter worth $33,000. OFI Invest Asset Management bought a new position in shares of Genuine Parts in the fourth quarter worth $34,000. Finally, Investors Research Corp increased its holdings in shares of Genuine Parts by 75.3% during the first quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 125 shares during the period. Institutional investors own 78.83% of the company's stock.

Genuine Parts Price Performance

Shares of NYSE:GPC traded up $1.41 on Friday, reaching $120.47. 987,679 shares of the company traded hands, compared to its average volume of 1,466,183. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.15 and a quick ratio of 0.52. The stock has a market capitalization of $16.72 billion, a PE ratio of 19.78 and a beta of 0.76. The company's 50 day moving average is $121.76 and its 200-day moving average is $119.90. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $149.22.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, beating the consensus estimate of $1.66 by $0.09. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. As a group, analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company 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 $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Friday, June 6th. Genuine Parts's dividend payout ratio (DPR) is currently 67.65%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GPC. Argus raised shares of Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Wall Street Zen lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. The Goldman Sachs Group reiterated a "sell" rating and set a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Evercore ISI dropped their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, Truist Financial increased their price target on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus 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.