Wealthedge Investment Advisors LLC Purchases Shares of 2,015 Genuine Parts (NYSE:GPC)

Wealthedge Investment Advisors LLC purchased a new stake in shares of Genuine Parts (NYSE:GPC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,015 shares of the specialty retailer's stock, valued at approximately $235,000.

A number of other large investors have also made changes to their positions in GPC. Millstone Evans Group LLC purchased a new position in Genuine Parts during the fourth quarter valued at approximately $25,000. Kestra Investment Management LLC purchased a new position in Genuine Parts during the fourth quarter valued at approximately $28,000. First Command Advisory Services Inc. purchased a new position in Genuine Parts during the fourth quarter valued at approximately $28,000. Compass Planning Associates Inc purchased a new position in Genuine Parts during the fourth quarter valued at approximately $29,000. Finally, Synergy Asset Management LLC purchased a new position in Genuine Parts during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Stock Performance

Shares of Genuine Parts stock traded up $1.70 on Monday, reaching $128.22. The stock had a trading volume of 1,131,738 shares, compared to its average volume of 1,290,197. The business's 50-day moving average price is $119.11 and its two-hundred day moving average price is $120.22. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a fifty-two week low of $104.01 and a fifty-two week high of $149.22. The stock has a market cap of $17.80 billion, a P/E ratio of 19.82 and a beta of 0.76.

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, topping analysts' consensus estimates of $1.66 by $0.09. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.83 billion. On average, sell-side analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Friday, June 6th. Genuine Parts's payout ratio is 67.65%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GPC shares. Wall Street Zen downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Argus raised shares of Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Evercore ISI decreased their target price on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Finally, Truist Financial boosted their target price 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 assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $130.86.

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.