O Keefe Stevens Advisory Inc. Raises Position in Genuine Parts (NYSE:GPC)

O Keefe Stevens Advisory Inc. boosted its stake in Genuine Parts (NYSE:GPC) by 32.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 6,406 shares of the specialty retailer’s stock after buying an additional 1,561 shares during the quarter. O Keefe Stevens Advisory Inc.’s holdings in Genuine Parts were worth $763,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. NBC Securities Inc. lifted its stake in Genuine Parts by 172,400.0% in the 1st quarter. NBC Securities Inc. now owns 1,725 shares of the specialty retailer’s stock valued at $205,000 after buying an additional 1,724 shares in the last quarter. Czech National Bank lifted its stake in Genuine Parts by 5.9% in the 1st quarter. Czech National Bank now owns 31,934 shares of the specialty retailer’s stock valued at $3,805,000 after buying an additional 1,788 shares in the last quarter. Rhumbline Advisers lifted its stake in Genuine Parts by 9.7% in the 1st quarter. Rhumbline Advisers now owns 267,672 shares of the specialty retailer’s stock valued at $31,890,000 after buying an additional 23,598 shares in the last quarter. Allied Investment Advisors LLC purchased a new position in Genuine Parts in the 1st quarter valued at about $7,959,000. Finally, Investors Research Corp lifted its stake in Genuine Parts by 75.3% in the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 125 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Evercore ISI cut their price objective on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Argus upgraded shares of Genuine Parts to a “strong-buy” rating in a report on Friday, April 25th. Wall Street Zen downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Saturday, April 26th. The Goldman Sachs Group restated a “sell” rating and set a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Finally, Truist Financial lifted their target price on shares of Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Genuine Parts has an average rating of “Moderate Buy” and an average target price of $130.86.

Genuine Parts Trading Up 0.2%

Shares of GPC opened at $126.64 on Monday. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The firm’s 50-day moving average is $118.91 and its two-hundred day moving average is $120.18. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $149.22. The firm has a market capitalization of $17.58 billion, a P/E ratio of 19.57 and a beta of 0.76.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.09. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. On average, research analysts predict that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.25%. The ex-dividend date is Friday, June 6th. Genuine Parts’s dividend payout ratio (DPR) is 67.65%.

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.