Fiduciary Financial Group LLC Raises Position in Genuine Parts (NYSE:GPC)

Fiduciary Financial Group LLC boosted its stake in Genuine Parts (NYSE:GPC) by 7.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,565 shares of the specialty retailer’s stock after buying an additional 171 shares during the period. Fiduciary Financial Group LLC’s holdings in Genuine Parts were worth $291,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GPC. JPMorgan Chase & Co. increased its stake in shares of Genuine Parts by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock valued at $257,124,000 after purchasing an additional 114,180 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Genuine Parts by 5.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 404,470 shares of the specialty retailer’s stock valued at $47,226,000 after acquiring an additional 19,444 shares in the last quarter. Apollon Wealth Management LLC increased its position in shares of Genuine Parts by 6.6% during the fourth quarter. Apollon Wealth Management LLC now owns 3,921 shares of the specialty retailer’s stock valued at $458,000 after acquiring an additional 242 shares in the last quarter. Empowered Funds LLC increased its position in shares of Genuine Parts by 28.0% during the fourth quarter. Empowered Funds LLC now owns 33,253 shares of the specialty retailer’s stock valued at $3,883,000 after acquiring an additional 7,276 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its position in shares of Genuine Parts by 110.3% during the fourth quarter. Kestra Private Wealth Services LLC now owns 29,500 shares of the specialty retailer’s stock valued at $3,444,000 after acquiring an additional 15,474 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Up 1.0%

Shares of Genuine Parts stock opened at $126.50 on Wednesday. The company’s fifty day simple moving average is $119.94 and its 200-day simple moving average is $120.38. The stock has a market capitalization of $17.56 billion, a PE ratio of 19.55 and a beta of 0.76. Genuine Parts has a 1-year low of $104.01 and a 1-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.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.09. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.83 billion. As a group, equities analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Friday, June 6th. Genuine Parts’s dividend payout ratio (DPR) is 67.65%.

Analyst Ratings Changes

Several brokerages recently weighed in on GPC. Argus raised shares of Genuine Parts to a “strong-buy” rating in a research report on Friday, April 25th. Truist Financial raised their price target on shares of 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 cut their target price on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Saturday, April 26th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $130.86.

Genuine Parts 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.