Meeder Advisory Services Inc. Acquires 964 Shares of Genuine Parts (NYSE:GPC)

Meeder Advisory Services Inc. increased its holdings in shares of Genuine Parts (NYSE:GPC) by 19.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,880 shares of the specialty retailer’s stock after purchasing an additional 964 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Genuine Parts were worth $813,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. WD Rutherford LLC bought a new stake in Genuine Parts in the 1st quarter valued at $26,000. Assetmark Inc. boosted its position in shares of Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after buying an additional 96 shares during the period. Union Savings Bank grew its holdings in shares of Genuine Parts by 100.0% during the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after buying an additional 100 shares in the last quarter. Thompson Investment Management Inc. acquired a new stake in Genuine Parts in the 1st quarter valued at approximately $35,000. Finally, Stephens Consulting LLC lifted its stake in Genuine Parts by 740.7% in the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Truist Financial reiterated a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a report on Wednesday, August 28th. The Goldman Sachs Group cut their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Wedbush decreased their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Finally, Evercore ISI lowered their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $161.14.

Genuine Parts Stock Up 0.8 %

GPC stock opened at $137.35 on Friday. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. The business’s 50 day simple moving average is $139.38 and its 200 day simple moving average is $145.72. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $19.14 billion, a PE ratio of 15.31 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. Genuine Parts’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.44 earnings per share. As a group, research analysts anticipate that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Friday, September 6th. Genuine Parts’s dividend payout ratio is presently 44.59%.

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.