Genuine Parts (NYSE:GPC) Short Interest Update

Genuine Parts (NYSE:GPC) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 2,530,000 shares, an increase of 24.6% from the May 31st total of 2,030,000 shares. Based on an average trading volume of 966,200 shares, the short-interest ratio is currently 2.6 days. Currently, 1.8% of the shares of the company are short sold.

Genuine Parts Stock Up 1.6 %

Shares of NYSE GPC traded up $2.13 during trading on Tuesday, hitting $135.98. The stock had a trading volume of 1,025,279 shares, compared to its average volume of 994,840. The firm has a fifty day moving average of $147.96 and a two-hundred day moving average of $146.55. The company has a market capitalization of $18.94 billion, a PE ratio of 15.19 and a beta of 0.92. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $170.57.

Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating the consensus estimate of $2.15 by $0.07. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.14 earnings per share. As a group, equities research analysts forecast that Genuine Parts will post 9.92 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were issued a dividend of $1.00 per share. The ex-dividend date was Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a yield of 2.94%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Analysts Set New Price Targets

Several research firms have recently issued reports on GPC. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Truist Financial increased their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Jefferies Financial Group increased their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Evercore ISI reduced their target price on Genuine Parts from $165.00 to $160.00 and set an “in-line” rating on the stock in a report on Tuesday. Finally, Wedbush reaffirmed a “neutral” rating and issued a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and an average price target of $169.00.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the transaction, the director now directly owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.37% of the stock is owned by company insiders.

Institutional Trading of Genuine Parts

Large investors have recently added to or reduced their stakes in the stock. WD Rutherford LLC bought a new position in Genuine Parts during the first quarter worth about $26,000. Assetmark Inc. boosted its position in Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 96 shares during the period. Union Savings Bank boosted its position in Genuine Parts by 100.0% during the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares during the period. Thompson Investment Management Inc. bought a new position in Genuine Parts during the first quarter worth about $35,000. Finally, Stephens Consulting LLC boosted its position in shares of Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Company 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.