4,594 Shares in Genuine Parts (NYSE:GPC) Bought by CreativeOne Wealth LLC

CreativeOne Wealth LLC purchased a new position in Genuine Parts (NYSE:GPC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,594 shares of the specialty retailer’s stock, valued at approximately $711,000.

Several other large investors also recently bought and sold shares of the business. Delap Wealth Advisory LLC bought a new stake in Genuine Parts in the first quarter worth $297,000. Shell Asset Management Co. boosted its stake in Genuine Parts by 37.2% during the first quarter. Shell Asset Management Co. now owns 7,891 shares of the specialty retailer’s stock worth $1,223,000 after buying an additional 2,138 shares during the period. Natixis boosted its stake in Genuine Parts by 768.4% during the first quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock worth $49,014,000 after buying an additional 279,930 shares during the period. Vaughan David Investments LLC IL boosted its stake in Genuine Parts by 1.3% during the first quarter. Vaughan David Investments LLC IL now owns 273,614 shares of the specialty retailer’s stock worth $42,391,000 after buying an additional 3,479 shares during the period. Finally, Lake Street Advisors Group LLC purchased a new position in Genuine Parts during the first quarter worth $278,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE GPC traded up $4.00 during trading hours on Friday, reaching $141.97. The stock had a trading volume of 988,185 shares, compared to its average volume of 1,197,496. The stock has a fifty day moving average of $140.29 and a 200 day moving average of $146.28. The stock has a market cap of $19.78 billion, a P/E ratio of 15.84 and a beta of 0.92. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $164.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.59 and a current ratio of 1.12.

Genuine Parts (NYSE:GPC) last announced its 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 net margin of 5.24% and a return on equity of 30.03%. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same quarter last year, the business earned $2.44 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. Sell-side analysts predict that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Friday, June 7th. Genuine Parts’s dividend payout ratio is currently 44.59%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Truist Financial dropped their price objective on shares of Genuine Parts from $183.00 to $164.00 and set a “buy” rating for the company in a research note on Tuesday. The Goldman Sachs Group lowered their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday. Evercore ISI lowered their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research note on Wednesday. Jefferies Financial Group boosted their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Finally, StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $161.14.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the transaction, the director now directly owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is owned by corporate insiders.

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.