Focus Financial Network Inc. Has $576,000 Stock Position in Genuine Parts (NYSE:GPC)

Focus Financial Network Inc. lifted its position in shares of Genuine Parts (NYSE:GPC) by 30.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,998 shares of the specialty retailer’s stock after buying an additional 923 shares during the quarter. Focus Financial Network Inc.’s holdings in Genuine Parts were worth $576,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its stake in Genuine Parts by 10.3% in the fourth quarter. International Assets Investment Management LLC now owns 5,148 shares of the specialty retailer’s stock valued at $713,000 after purchasing an additional 480 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Genuine Parts in the fourth quarter valued at about $1,177,000. Mackenzie Financial Corp raised its stake in Genuine Parts by 18.9% in the fourth quarter. Mackenzie Financial Corp now owns 33,913 shares of the specialty retailer’s stock valued at $4,697,000 after purchasing an additional 5,400 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Genuine Parts by 11.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 14,619 shares of the specialty retailer’s stock valued at $2,025,000 after purchasing an additional 1,549 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its stake in Genuine Parts by 114.5% in the fourth quarter. J.W. Cole Advisors Inc. now owns 5,832 shares of the specialty retailer’s stock valued at $808,000 after purchasing an additional 3,113 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on GPC. UBS Group lowered their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. The Goldman Sachs Group reduced their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Truist Financial reduced their target price on Genuine Parts from $183.00 to $164.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Evercore ISI reduced their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Genuine Parts presently has a consensus rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Stock Up 0.6 %

Shares of NYSE:GPC traded up $0.85 during trading on Tuesday, reaching $139.53. 582,490 shares of the stock were exchanged, compared to its average volume of 1,007,718. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. The stock has a fifty day moving average of $138.72 and a two-hundred day moving average of $146.28. The firm has a market cap of $19.44 billion, a price-to-earnings ratio of 15.46 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same period in the previous year, the company earned $2.44 earnings per share. Genuine Parts’s revenue for the quarter was up .8% compared to the same quarter last year. Research analysts anticipate that Genuine Parts will post 9.36 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.87%. Genuine Parts’s payout ratio is currently 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.