Genuine Parts (NYSE:GPC) Shares Purchased by Marco Investment Management LLC

Marco Investment Management LLC raised its position in shares of Genuine Parts (NYSE:GPC) by 5.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,813 shares of the specialty retailer’s stock after purchasing an additional 410 shares during the quarter. Marco Investment Management LLC’s holdings in Genuine Parts were worth $1,081,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. AGF Management Ltd. boosted its stake in Genuine Parts by 5.2% during the second quarter. AGF Management Ltd. now owns 16,355 shares of the specialty retailer’s stock valued at $2,262,000 after buying an additional 806 shares in the last quarter. Vaughan David Investments LLC IL lifted its holdings in Genuine Parts by 1.7% in the 2nd quarter. Vaughan David Investments LLC IL now owns 278,147 shares of the specialty retailer’s stock valued at $38,473,000 after acquiring an additional 4,533 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in shares of Genuine Parts by 4.3% during the 2nd quarter. Coldstream Capital Management Inc. now owns 14,453 shares of the specialty retailer’s stock valued at $1,999,000 after purchasing an additional 598 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Genuine Parts by 12.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 17,926 shares of the specialty retailer’s stock worth $2,480,000 after purchasing an additional 1,979 shares during the last quarter. Finally, Andra AP fonden grew its stake in shares of Genuine Parts by 30.2% in the 2nd quarter. Andra AP fonden now owns 50,400 shares of the specialty retailer’s stock worth $6,971,000 after purchasing an additional 11,700 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Down 0.6 %

Shares of Genuine Parts stock opened at $135.76 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45. The stock has a 50-day moving average price of $139.20 and a 200 day moving average price of $145.97. The company has a market cap of $18.91 billion, a P/E ratio of 15.13 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) 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 company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. During the same period last 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. As a group, analysts expect that Genuine Parts will post 9.37 EPS 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. Stockholders of record on Friday, September 6th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Friday, September 6th. Genuine Parts’s dividend payout ratio is currently 44.59%.

Analysts Set New Price Targets

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

Genuine Parts 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.