Wealthcare Advisory Partners LLC Acquires 1,426 Shares of Genuine Parts (NYSE:GPC)

Wealthcare Advisory Partners LLC lifted its holdings in shares of Genuine Parts (NYSE:GPC) by 11.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,418 shares of the specialty retailer’s stock after acquiring an additional 1,426 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Genuine Parts were worth $2,079,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its position in shares of Genuine Parts by 255.5% during the first quarter. Sunbelt Securities Inc. now owns 647 shares of the specialty retailer’s stock valued at $100,000 after buying an additional 465 shares during the period. Thompson Investment Management Inc. bought a new position in shares of Genuine Parts in the 1st quarter worth approximately $35,000. Riverview Trust Co purchased a new position in shares of Genuine Parts in the 1st quarter valued at approximately $120,000. Gateway Investment Advisers LLC boosted its position in shares of Genuine Parts by 1.6% during the first quarter. Gateway Investment Advisers LLC now owns 114,539 shares of the specialty retailer’s stock valued at $17,746,000 after purchasing an additional 1,789 shares in the last quarter. Finally, Central Valley Advisors LLC purchased a new stake in Genuine Parts in the first quarter worth $202,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE:GPC traded down $0.52 during mid-day trading on Thursday, hitting $137.55. 66,805 shares of the company traded hands, compared to its average volume of 983,639. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The stock’s fifty day moving average price is $149.49 and its 200-day moving average price is $146.49. The firm has a market cap of $19.16 billion, a price-to-earnings ratio of 15.38 and a beta of 0.92. Genuine Parts has a one year low of $126.35 and a one year high of $170.57.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the previous year, the company posted $2.14 EPS. The firm’s revenue was up .3% on a year-over-year basis. Research analysts anticipate that Genuine Parts will post 9.92 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Friday, June 7th. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $1,967,677.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GPC. Truist Financial raised their target price on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Evercore ISI lifted their target price on Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a report on Thursday, June 20th. Wedbush reaffirmed a “neutral” rating and set a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Finally, Jefferies Financial Group lifted their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $172.44.

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.