Genuine Parts (NYSE:GPC) Shares Acquired by KCM Investment Advisors LLC

KCM Investment Advisors LLC boosted its holdings in Genuine Parts (NYSE:GPC) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,842 shares of the specialty retailer’s stock after acquiring an additional 2,869 shares during the quarter. KCM Investment Advisors LLC’s holdings in Genuine Parts were worth $9,522,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Genuine Parts by 7.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,707,699 shares of the specialty retailer’s stock worth $353,436,000 after purchasing an additional 185,913 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Genuine Parts by 27.0% during the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after acquiring an additional 431,623 shares during the last quarter. Norges Bank purchased a new stake in shares of Genuine Parts during the fourth quarter valued at $215,643,000. Dimensional Fund Advisors LP increased its stake in Genuine Parts by 13.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,081,344 shares of the specialty retailer’s stock worth $149,766,000 after purchasing an additional 129,472 shares in the last quarter. Finally, Morningstar Investment Services LLC increased its stake in Genuine Parts by 161.2% in the 4th quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock worth $80,066,000 after purchasing an additional 357,091 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Up 0.7 %

Shares of NYSE GPC traded up $0.97 during mid-day trading on Friday, reaching $143.25. The company had a trading volume of 821,937 shares, compared to its average volume of 991,595. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $164.45. The stock’s 50 day moving average is $139.05 and its 200-day moving average is $146.22. The stock has a market capitalization of $19.95 billion, a PE ratio of 15.97 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same period in the previous year, the company earned $2.44 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts anticipate that Genuine Parts will post 9.36 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 Tuesday, October 1st. Investors of record on Friday, September 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.79%. The ex-dividend date is Friday, September 6th. Genuine Parts’s payout ratio is presently 44.59%.

Analyst Ratings Changes

GPC has been the subject of a number of analyst reports. Truist Financial reaffirmed a “buy” rating and set a $164.00 price objective on shares of Genuine Parts in a research note on Wednesday. The Goldman Sachs Group reduced their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Wedbush lowered their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. UBS Group decreased their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Finally, StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $161.14.

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.