Wealthfront Advisers LLC Buys 2,058 Shares of Genuine Parts Company (NYSE:GPC)

Wealthfront Advisers LLC grew its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 51.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,094 shares of the specialty retailer's stock after acquiring an additional 2,058 shares during the quarter. Wealthfront Advisers LLC's holdings in Genuine Parts were worth $726,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Strategic Wealth Partners Ltd. lifted its position in shares of Genuine Parts by 4.2% during the 4th quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock valued at $302,000 after buying an additional 98 shares in the last quarter. Keybank National Association OH increased its position in shares of Genuine Parts by 0.5% during the 1st quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer's stock valued at $2,486,000 after purchasing an additional 98 shares during the last quarter. Veracity Capital LLC increased its position 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 valued at $256,000 after purchasing an additional 100 shares during the last quarter. Gallagher Fiduciary Advisors LLC increased its position 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 valued at $309,000 after purchasing an additional 118 shares during the last quarter. Finally, Investors Research Corp boosted its holdings in Genuine Parts by 75.3% during the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 125 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. The Goldman Sachs Group reiterated a "sell" rating and issued a $114.00 target price (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Argus raised Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Evercore ISI lowered their target price on 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 Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Finally, Truist Financial increased their price target on 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 assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $130.86.

Genuine Parts Price Performance

GPC stock opened at $122.82 on Monday. The business has a fifty day moving average of $124.24 and a two-hundred day moving average of $120.66. The company has a quick ratio of 0.52, a current ratio of 1.15 and a debt-to-equity ratio of 0.85. The stock has a market cap of $17.05 billion, a price-to-earnings ratio of 20.17 and a beta of 0.74. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $149.22.

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

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Friday, June 6th were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.35%. Genuine Parts's dividend payout ratio (DPR) is presently 67.65%.

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.

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