Tounjian Advisory Partners LLC Makes New $271,000 Investment in Genuine Parts (NYSE:GPC)

Tounjian Advisory Partners LLC bought a new position in Genuine Parts (NYSE:GPC) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,272 shares of the specialty retailer’s stock, valued at approximately $271,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC boosted its position in Genuine Parts by 59.1% in the first quarter. Farther Finance Advisors LLC now owns 4,282 shares of the specialty retailer’s stock worth $507,000 after purchasing an additional 1,590 shares during the last quarter. Outlook Wealth Advisors LLC purchased a new position in shares of Genuine Parts during the 1st quarter valued at about $464,000. Capital Investment Advisors LLC lifted its position in shares of Genuine Parts by 4.1% during the 1st quarter. Capital Investment Advisors LLC now owns 17,078 shares of the specialty retailer’s stock valued at $2,035,000 after buying an additional 672 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of Genuine Parts by 3.0% during the 1st quarter. Park Avenue Securities LLC now owns 6,140 shares of the specialty retailer’s stock valued at $732,000 after buying an additional 179 shares in the last quarter. Finally, Butensky & Cohen Financial Security Inc. lifted its position in shares of Genuine Parts by 3.1% during the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 36,394 shares of the specialty retailer’s stock valued at $4,336,000 after buying an additional 1,099 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 0.0%

NYSE GPC opened at $125.24 on Tuesday. The stock’s 50 day moving average is $119.78 and its 200 day moving average is $120.34. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 12 month low of $104.01 and a 12 month high of $149.22. The stock has a market cap of $17.38 billion, a PE ratio of 19.36 and a beta of 0.76.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.09. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The company had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.83 billion. Research analysts predict that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts’s payout ratio is 67.65%.

Analyst Upgrades and Downgrades

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