Park Avenue Securities LLC Has $732,000 Stake in Genuine Parts (NYSE:GPC)

Park Avenue Securities LLC increased its position in Genuine Parts (NYSE:GPC) by 3.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,140 shares of the specialty retailer’s stock after purchasing an additional 179 shares during the period. Park Avenue Securities LLC’s holdings in Genuine Parts were worth $732,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new stake in shares of Genuine Parts during the 4th quarter valued at $25,000. Kestra Investment Management LLC acquired a new stake in shares of Genuine Parts during the 4th quarter valued at $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Genuine Parts during the 4th quarter valued at $28,000. Compass Planning Associates Inc acquired a new stake in shares of Genuine Parts during the 4th quarter valued at $29,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Genuine Parts during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of GPC opened at $119.43 on Friday. The company has a market capitalization of $16.58 billion, a PE ratio of 18.46 and a beta of 0.76. Genuine Parts has a one year low of $104.01 and a one year high of $149.22. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The company’s fifty day moving average price is $120.58 and its 200 day moving average price is $120.29.

Genuine Parts (NYSE:GPC) last announced its 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. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. As a group, analysts expect that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be issued a dividend of $1.03 per share. The ex-dividend date is Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.45%. Genuine Parts’s payout ratio is 67.65%.

Analyst Ratings Changes

GPC has been the subject of a number of research reports. Argus raised shares of Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. Truist Financial lifted their price objective on shares of Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Evercore ISI reduced their price objective on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Finally, Wall Street Zen lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.