LMG Wealth Partners LLC Takes Position in Genuine Parts Company (NYSE:GPC)

by · The Markets Daily

LMG Wealth Partners LLC acquired a new stake in Genuine Parts Company (NYSE:GPC – Free Report) in the first quarter, Holdings Channel.com reports. The firm acquired 6,875 shares of the specialty retailer’s stock, valued at approximately $819,000.

A number of other large investors also recently modified their holdings of GPC. Norges Bank bought a new position in shares of Genuine Parts in the fourth quarter valued at approximately $206,645,000. Junto Capital Management LP bought a new position in shares of Genuine Parts in the fourth quarter valued at approximately $94,868,000. Alyeska Investment Group L.P. boosted its position in shares of Genuine Parts by 204.7% in the fourth quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer’s stock valued at $92,129,000 after acquiring an additional 530,057 shares during the period. Invesco Ltd. lifted its position in Genuine Parts by 18.9% during the fourth quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer’s stock valued at $380,898,000 after purchasing an additional 518,851 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Genuine Parts by 20,194.9% during the first quarter. GAMMA Investing LLC now owns 476,322 shares of the specialty retailer’s stock valued at $56,749,000 after purchasing an additional 473,975 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Trading Down 1.8%

GPC stock opened at $122.23 on Wednesday. The company has a market capitalization of $16.96 billion, a PE ratio of 20.07 and a beta of 0.74. Genuine Parts Company has a one year low of $104.01 and a one year high of $149.22. The company’s 50 day moving average price is $123.88 and its two-hundred day moving average price is $120.49. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.52 and a current ratio of 1.15.

Genuine Parts (NYSE:GPC – Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, topping the consensus estimate of $1.66 by $0.09. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. As a group, analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Friday, June 6th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Friday, June 6th. Genuine Parts’s payout ratio is 67.65%.

Analysts Set New Price Targets

GPC has been the subject of several research analyst reports. Wall Street Zen lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Saturday, April 26th. Evercore ISI dropped their target price on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Argus upgraded shares of Genuine Parts to a “strong-buy” rating in a research report on Friday, April 25th. Truist Financial lifted their target price on shares of Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $114.00 target price (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $130.86.

Get Our Latest Analysis on GPC

Genuine Parts Profile

(Free Report)

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.

Further Reading

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