Farmers & Merchants Investments Inc. Buys 218 Shares of Genuine Parts (NYSE:GPC)

Farmers & Merchants Investments Inc. increased its stake in Genuine Parts (NYSE:GPC) by 0.5% in the second quarter, HoldingsChannel reports. The fund owned 43,925 shares of the specialty retailer’s stock after purchasing an additional 218 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Genuine Parts were worth $6,076,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GPC. Assetmark Inc. lifted its stake in shares of Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 96 shares during the last quarter. WD Rutherford LLC bought a new position in Genuine Parts during the 1st quarter valued at approximately $26,000. Union Savings Bank raised its position in Genuine Parts by 100.0% during the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Thompson Investment Management Inc. bought a new position in Genuine Parts during the 1st quarter valued at approximately $35,000. Finally, Stephens Consulting LLC raised its position in Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Up 0.2 %

Shares of GPC stock traded up $0.26 during midday trading on Friday, reaching $137.60. 20,788 shares of the stock were exchanged, compared to its average volume of 986,690. 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 cap of $19.17 billion, a PE ratio of 15.31 and a beta of 0.92. The company’s 50 day moving average is $139.22 and its two-hundred day moving average is $146.16. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share 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 analysts’ expectations of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.44 EPS. On average, equities research analysts predict that Genuine Parts will post 9.37 EPS for the current 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 paid a $1.00 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.91%. Genuine Parts’s payout ratio is currently 44.59%.

Analysts Set New Price Targets

A number of research analysts have commented on GPC shares. Wedbush lowered their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Evercore ISI lowered their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. UBS Group reduced their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Finally, Truist Financial reiterated a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a report on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $161.14.

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.