Genuine Parts (NYSE:GPC) Position Increased by Vest Financial LLC

Vest Financial LLC raised its position in Genuine Parts (NYSE:GPC) by 3.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,993 shares of the specialty retailer’s stock after purchasing an additional 8,472 shares during the quarter. Vest Financial LLC owned approximately 0.19% of Genuine Parts worth $37,345,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GPC. Manchester Capital Management LLC grew its stake in shares of Genuine Parts by 36.1% in the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 66 shares in the last quarter. North Star Investment Management Corp. boosted its stake in shares of Genuine Parts by 8.5% during the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after acquiring an additional 70 shares in the last quarter. CHICAGO TRUST Co NA increased its holdings in shares of Genuine Parts by 3.6% during the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after acquiring an additional 71 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in Genuine Parts by 4.9% during the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock valued at $224,000 after purchasing an additional 75 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its holdings in shares of Genuine Parts by 2.2% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock worth $489,000 after buying an additional 76 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GPC shares. The Goldman Sachs Group decreased their price target on shares of 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 upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. UBS Group dropped their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Evercore ISI reduced their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. Finally, Truist Financial restated a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a research note on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $161.14.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $135.05 on Thursday. The business’s 50 day moving average is $139.23 and its 200-day moving average is $145.90. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $18.81 billion, a PE ratio of 15.06 and a beta of 0.90. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.03 billion. During the same period last year, the firm earned $2.44 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts predict that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Dividend Announcement

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. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.96%. Genuine Parts’s dividend payout ratio is currently 44.59%.

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.