Genuine Parts (NYSE:GPC) Stake Increased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in Genuine Parts (NYSE:GPC) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,019 shares of the specialty retailer’s stock after acquiring an additional 2,548 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Genuine Parts were worth $7,440,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GPC. Charles Schwab Investment Management Inc. lifted its position in shares of Genuine Parts by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,707,699 shares of the specialty retailer’s stock worth $353,436,000 after purchasing an additional 185,913 shares during the last quarter. Stifel Financial Corp lifted its holdings in Genuine Parts by 27.0% during the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after buying an additional 431,623 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Genuine Parts by 23.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock worth $235,916,000 after acquiring an additional 313,438 shares in the last quarter. Norges Bank bought a new stake in shares of Genuine Parts in the 4th quarter valued at approximately $215,643,000. Finally, Royal Bank of Canada raised its position in shares of Genuine Parts by 1.4% during the 3rd quarter. Royal Bank of Canada now owns 1,261,041 shares of the specialty retailer’s stock valued at $182,070,000 after acquiring an additional 17,422 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $138.32 on Monday. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $170.57. The company has a market cap of $19.27 billion, a PE ratio of 15.42 and a beta of 0.92. The stock has a 50 day simple moving average of $148.55 and a 200-day simple moving average of $146.59. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.14 EPS. On average, equities research analysts forecast that Genuine Parts will post 9.92 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.89%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the transaction, the director now owns 13,006 shares in the company, valued at $1,967,677.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on GPC. Evercore ISI lifted their price objective on shares of Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a report on Thursday, June 20th. Jefferies Financial Group boosted their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Wedbush reaffirmed a “neutral” rating and set a $170.00 target price (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Finally, Truist Financial increased their price target on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $169.63.

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.