Kimelman & Baird LLC Invests $761,000 in Genuine Parts (NYSE:GPC)

Kimelman & Baird LLC acquired a new stake in Genuine Parts (NYSE:GPC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,500 shares of the specialty retailer’s stock, valued at approximately $761,000.

Several other large investors have also bought and sold shares of GPC. Quarry LP lifted its stake in shares of Genuine Parts by 822.2% in the second quarter. Quarry LP now owns 581 shares of the specialty retailer’s stock worth $80,000 after acquiring an additional 518 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Genuine Parts by 1.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 13,802 shares of the specialty retailer’s stock worth $1,909,000 after purchasing an additional 253 shares during the last quarter. Silver Lake Advisory LLC lifted its position in shares of Genuine Parts by 3.9% in the 2nd quarter. Silver Lake Advisory LLC now owns 32,796 shares of the specialty retailer’s stock worth $4,536,000 after purchasing an additional 1,226 shares during the period. Creative Planning raised its stake in Genuine Parts by 0.5% during the second quarter. Creative Planning now owns 57,077 shares of the specialty retailer’s stock worth $7,895,000 after buying an additional 280 shares during the last quarter. Finally, Maverick Capital Ltd. acquired a new position in Genuine Parts in the second quarter valued at $787,000. 78.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GPC shares. The Goldman Sachs Group decreased their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Wedbush reduced their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. UBS Group lowered their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Finally, Truist Financial reissued a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a research note on Wednesday, August 28th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $161.14.

Genuine Parts Price Performance

Shares of GPC opened at $141.24 on Monday. The business’s fifty day moving average is $139.60 and its 200 day moving average is $144.81. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $164.45. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The stock has a market cap of $19.67 billion, a P/E ratio of 15.75 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the prior year, the business earned $2.44 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

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.