Genuine Parts Company (NYSE:GPC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Genuine Parts Company (NYSE:GPC) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $148.00.

Several research firms recently weighed in on GPC. JPMorgan Chase & Co. lifted their price target on Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. The Goldman Sachs Group upgraded Genuine Parts from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $130.00 to $142.00 in a research report on Thursday, November 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Genuine Parts in a research report on Monday, December 29th. Finally, Truist Financial upped their price target on shares of Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st.

Genuine Parts Price Performance

NYSE:GPC opened at $146.13 on Tuesday. Genuine Parts has a one year low of $104.01 and a one year high of $149.27. The company has a market cap of $20.33 billion, a P/E ratio of 25.15 and a beta of 0.74. The firm’s fifty day moving average price is $131.95 and its two-hundred day moving average price is $133.12. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Friday, December 5th were given a $1.03 dividend. The ex-dividend date was Friday, December 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. Genuine Parts’s dividend payout ratio (DPR) is presently 70.91%.

Institutional Trading of Genuine Parts

Several large investors have recently made changes to their positions in GPC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Genuine Parts by 3.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,717 shares of the specialty retailer’s stock valued at $2,111,000 after purchasing an additional 671 shares during the last quarter. Woodline Partners LP grew its position in Genuine Parts by 40.7% in the first quarter. Woodline Partners LP now owns 11,746 shares of the specialty retailer’s stock valued at $1,399,000 after acquiring an additional 3,396 shares during the last quarter. Vontobel Holding Ltd. raised its stake in Genuine Parts by 18.1% during the second quarter. Vontobel Holding Ltd. now owns 5,699 shares of the specialty retailer’s stock worth $691,000 after acquiring an additional 874 shares in the last quarter. Callan Family Office LLC raised its stake in Genuine Parts by 110.9% during the second quarter. Callan Family Office LLC now owns 3,760 shares of the specialty retailer’s stock worth $456,000 after acquiring an additional 1,977 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Genuine Parts by 20.0% in the second quarter. IFP Advisors Inc now owns 3,762 shares of the specialty retailer’s stock worth $457,000 after acquiring an additional 627 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

About Genuine Parts

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.