Kingsview Wealth Management LLC Has $9.62 Million Holdings in Genuine Parts Company (NYSE:GPC)

Kingsview Wealth Management LLC lessened its position in Genuine Parts Company (NYSE:GPC) by 1.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 80,710 shares of the specialty retailer’s stock after selling 1,042 shares during the period. Kingsview Wealth Management LLC owned approximately 0.06% of Genuine Parts worth $9,616,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in GPC. Strategic Wealth Partners Ltd. increased its position in Genuine Parts by 4.2% during the 4th quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer’s stock valued at $302,000 after buying an additional 98 shares in the last quarter. Keybank National Association OH increased its position in Genuine Parts by 0.5% during the 1st quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer’s stock valued at $2,486,000 after buying an additional 98 shares in the last quarter. Veracity Capital LLC increased its position in Genuine Parts by 4.9% during the 1st quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer’s stock valued at $256,000 after buying an additional 100 shares in the last quarter. Gallagher Fiduciary Advisors LLC increased its position in Genuine Parts by 4.7% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 2,647 shares of the specialty retailer’s stock valued at $309,000 after buying an additional 118 shares in the last quarter. Finally, Investors Research Corp increased its position in Genuine Parts by 75.3% during 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. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GPC. Wall Street Zen lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Saturday, April 26th. Truist Financial raised 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. The Goldman Sachs Group reaffirmed a “sell” rating and set a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Evercore ISI cut their target price on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Finally, Argus upgraded Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $130.86.

Genuine Parts Stock Performance

Shares of GPC opened at $122.55 on Thursday. The business’s fifty day simple moving average is $124.02 and its two-hundred day simple moving average is $120.50. The company has a current ratio of 1.15, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $149.22. The company has a market cap of $17.01 billion, a price-to-earnings ratio of 20.12 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.09. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. Research analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th were paid a $1.03 dividend. The ex-dividend date was Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.36%. Genuine Parts’s dividend payout ratio (DPR) is currently 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.