Genuine Parts (NYSE:GPC) Short Interest Update

Genuine Parts (NYSE:GPC) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 2,530,000 shares, an increase of 24.6% from the May 31st total of 2,030,000 shares. Based on an average trading volume of 966,200 shares, the short-interest ratio is presently 2.6 days. Approximately 1.8% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Truist Financial boosted their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Jefferies Financial Group boosted their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Evercore ISI dropped their target price on Genuine Parts from $165.00 to $160.00 and set an “in-line” rating on the stock in a research report on Tuesday. Finally, Wedbush restated a “neutral” rating and issued a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $169.00.

Insider Buying and Selling at Genuine Parts

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 transaction of $453,870.00. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Genuine Parts

Large investors have recently bought and sold shares of the stock. WD Rutherford LLC acquired a new stake in Genuine Parts during the 1st quarter valued at $26,000. Assetmark Inc. lifted its stake in shares of Genuine Parts by 109.1% during the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 96 shares during the period. Union Savings Bank lifted its stake in shares of Genuine Parts by 100.0% during the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares during the period. Thompson Investment Management Inc. purchased a new position in shares of Genuine Parts during the 1st quarter worth $35,000. Finally, Stephens Consulting LLC lifted its stake in shares of Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of GPC traded up $2.13 on Tuesday, reaching $135.98. The stock had a trading volume of 1,025,279 shares, compared to its average volume of 994,840. The firm has a market capitalization of $18.94 billion, a PE ratio of 15.19 and a beta of 0.92. 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 firm has a 50-day moving average of $147.96 and a 200 day moving average of $146.55. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $170.57.

Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The firm had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. Genuine Parts’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.14 EPS. Sell-side analysts expect that Genuine Parts will post 9.92 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Friday, June 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

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.