HORAN Wealth LLC Boosts Position in Genuine Parts Company $GPC

HORAN Wealth LLC raised its stake in Genuine Parts Company (NYSE:GPC) by 102.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,472 shares of the specialty retailer’s stock after buying an additional 33,645 shares during the period. HORAN Wealth LLC’s holdings in Genuine Parts were worth $7,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Olistico Wealth LLC bought a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $25,000. Strive Financial Group LLC bought a new position in Genuine Parts in the fourth quarter worth approximately $25,000. WPG Advisers LLC grew its stake in Genuine Parts by 213.0% in the fourth quarter. WPG Advisers LLC now owns 241 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 164 shares in the last quarter. Motiv8 Investments LLC purchased a new position in Genuine Parts during the 4th quarter worth $31,000. Finally, Lodestone Wealth Management LLC purchased a new position in Genuine Parts during the 4th quarter worth $32,000. 78.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. DA Davidson upped their target price on Genuine Parts from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 6th. UBS Group cut their price target on Genuine Parts from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 22nd. Weiss Ratings restated a “hold (c-)” rating on shares of Genuine Parts in a report on Wednesday, June 24th. Zacks Research raised shares of Genuine Parts from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Finally, Truist Financial dropped their target price on shares of Genuine Parts from $127.00 to $124.00 and set a “hold” rating on the stock in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $144.50.

Insider Buying and Selling at Genuine Parts

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

Genuine Parts Stock Performance

Shares of NYSE:GPC opened at $122.41 on Tuesday. The firm has a 50 day moving average of $108.58 and a 200 day moving average of $115.55. The company has a quick ratio of 0.48, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $16.85 billion, a price-to-earnings ratio of 284.68 and a beta of 0.63. Genuine Parts Company has a 52 week low of $90.78 and a 52 week high of $151.57.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, April 21st. The specialty retailer reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.02. Genuine Parts had a return on equity of 22.28% and a net margin of 0.24%.The business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.17 billion. During the same quarter last year, the firm earned $1.75 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, sell-side analysts predict that Genuine Parts Company will post 7.69 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

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

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.