Mather Group LLC. Raises Position in Genuine Parts Company (NYSE:GPC)

Mather Group LLC. raised its holdings in shares of Genuine Parts Company (NYSE:GPC) by 11.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,709 shares of the specialty retailer’s stock after acquiring an additional 275 shares during the period. Mather Group LLC.’s holdings in Genuine Parts were worth $323,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GPC. Millstone Evans Group LLC purchased a new position in shares of Genuine Parts during the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new stake in Genuine Parts in the fourth quarter valued at approximately $33,000. OFI Invest Asset Management bought a new stake in Genuine Parts during the fourth quarter valued at approximately $34,000. Investors Research Corp grew 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 worth $35,000 after buying an additional 125 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in shares of Genuine Parts by 7,950.0% in the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer’s stock worth $38,000 after buying an additional 318 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GPC shares. Argus upgraded shares of Genuine Parts to a “strong-buy” rating in a research report on Friday, April 25th. Evercore ISI reduced 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. The Goldman Sachs Group reissued a “sell” rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Wall Street Zen lowered Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. Finally, Truist Financial lifted their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $130.86.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $127.41 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.15 and a quick ratio of 0.52. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $149.22. The company’s 50-day moving average is $122.72 and its 200 day moving average is $119.98. The stock has a market capitalization of $17.68 billion, a P/E ratio of 20.92 and a beta of 0.74.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.09. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. On average, sell-side analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, June 6th. Genuine Parts’s dividend payout ratio is presently 67.65%.

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.