Genuine Parts Company $GPC Shares Acquired by Assetmark Inc.

Assetmark Inc. grew its position in shares of Genuine Parts Company (NYSE:GPC) by 14.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 86,780 shares of the specialty retailer’s stock after acquiring an additional 10,931 shares during the period. Assetmark Inc.’s holdings in Genuine Parts were worth $9,177,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GPC. SteelPeak Wealth LLC increased its position in Genuine Parts by 61.3% during the 1st quarter. SteelPeak Wealth LLC now owns 26,671 shares of the specialty retailer’s stock worth $2,848,000 after purchasing an additional 10,141 shares in the last quarter. Bastion Asset Management Inc. acquired a new stake in shares of Genuine Parts in the first quarter worth $16,978,000. Delta Financial Advisors LLC increased its position in shares of Genuine Parts by 4.3% in the first quarter. Delta Financial Advisors LLC now owns 12,384 shares of the specialty retailer’s stock worth $1,310,000 after acquiring an additional 507 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Genuine Parts by 2.3% in the 1st quarter. D.A. Davidson & CO. now owns 32,278 shares of the specialty retailer’s stock valued at $3,413,000 after acquiring an additional 732 shares during the period. Finally, Marks Group Wealth Management Inc lifted its holdings in shares of Genuine Parts by 1.3% during the 1st quarter. Marks Group Wealth Management Inc now owns 15,209 shares of the specialty retailer’s stock valued at $1,608,000 after acquiring an additional 190 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GPC. DA Davidson upped their price target on shares of Genuine Parts from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Zacks Research upgraded Genuine Parts from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Truist Financial decreased their target price on Genuine Parts from $127.00 to $124.00 and set a “hold” rating for the company in a research report on Wednesday, April 22nd. UBS Group lowered their target price on Genuine Parts from $135.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Genuine Parts in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $144.50.

Genuine Parts Price Performance

GPC opened at $122.41 on Tuesday. Genuine Parts Company has a twelve month low of $90.78 and a twelve month high of $151.57. The firm has a market cap of $16.85 billion, a price-to-earnings ratio of 284.68 and a beta of 0.63. The company has a current ratio of 1.09, a quick ratio of 0.48 and a debt-to-equity ratio of 0.77. The company has a fifty day simple moving average of $108.58 and a 200 day simple moving average of $115.55.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, April 21st. The specialty retailer reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.02. The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.17 billion. Genuine Parts had a net margin of 0.24% and a return on equity of 22.28%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.75 EPS. Equities research analysts expect that Genuine Parts Company will post 7.69 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 5th were paid a $1.0625 dividend. The ex-dividend date was Friday, June 5th. This represents a $4.25 annualized dividend and a dividend yield of 3.5%. Genuine Parts’s payout ratio is 988.37%.

Insider Buying and Selling

In related news, insider James F. Howe sold 415 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $104.33, for a total value of $43,296.95. Following the completion of the transaction, the insider owned 25,589 shares of the company’s stock, valued at approximately $2,669,700.37. This represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.13% of the company’s stock.

Genuine Parts Profile

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.