Arete Wealth Advisors LLC purchased a new stake in Genuine Parts (NYSE:GPC – Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,991 shares of the specialty retailer’s stock, valued at approximately $668,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Genuine Parts by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 17,088,101 shares of the specialty retailer’s stock valued at $2,153,442,000 after buying an additional 481,039 shares during the last quarter. State Street Corp boosted its holdings in Genuine Parts by 2.4% in the 1st quarter. State Street Corp now owns 7,189,643 shares of the specialty retailer’s stock valued at $1,209,476,000 after purchasing an additional 171,000 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Genuine Parts by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,378,334 shares of the specialty retailer’s stock valued at $910,664,000 after purchasing an additional 205,421 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Genuine Parts by 388.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,241,510 shares of the specialty retailer’s stock valued at $119,159,000 after purchasing an additional 2,577,514 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Genuine Parts by 1.3% in the 1st quarter. Geode Capital Management LLC now owns 2,977,671 shares of the specialty retailer’s stock valued at $497,089,000 after purchasing an additional 36,774 shares during the period. Institutional investors and hedge funds own 77.51% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have issued reports on GPC. Wedbush cut their price objective on shares of Genuine Parts from $170.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, July 21st. Stephens cut their price objective on shares of Genuine Parts from $172.00 to $168.00 and set an “equal weight” rating for the company in a report on Friday, July 21st. StockNews.com assumed coverage on shares of Genuine Parts in a report on Thursday, August 17th. They issued a “buy” rating for the company. Evercore ISI upped their price target on shares of Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a report on Friday, September 8th. Finally, Truist Financial cut their price target on shares of Genuine Parts from $195.00 to $191.00 and set a “buy” rating for the company in a report on Friday, July 21st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Genuine Parts currently has an average rating of “Moderate Buy” and an average price target of $177.00.
Genuine Parts Price Performance
GPC stock opened at $148.84 on Friday. The company has a 50 day simple moving average of $156.35 and a 200 day simple moving average of $161.41. The stock has a market cap of $20.90 billion, a price-to-earnings ratio of 17.41, a P/E/G ratio of 1.80 and a beta of 0.90. Genuine Parts has a 1 year low of $145.30 and a 1 year high of $187.73. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 0.58.
Genuine Parts (NYSE:GPC – Get Free Report) last released its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.10. The business had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.96 billion. Genuine Parts had a net margin of 5.30% and a return on equity of 32.43%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.20 EPS. Research analysts anticipate that Genuine Parts will post 9.24 EPS for the current fiscal year.
Genuine Parts Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Thursday, September 7th. Genuine Parts’s dividend payout ratio is 44.44%.
Genuine Parts Profile
Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as 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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