Cambridge Investment Research Advisors Inc. Raises Stock Position in Genuine Parts Company (NYSE:GPC)

Cambridge Investment Research Advisors Inc. grew its stake in shares of Genuine Parts Company (NYSE:GPC) by 2.9% in the first quarter, Holdings Channel.com reports. The fund owned 25,410 shares of the specialty retailer’s stock after purchasing an additional 725 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Genuine Parts were worth $3,027,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Millstone Evans Group LLC acquired a new position in Genuine Parts during the fourth quarter worth $25,000. Aster Capital Management DIFC Ltd acquired a new stake in Genuine Parts in the fourth quarter valued at $33,000. OFI Invest Asset Management purchased a new position in shares of Genuine Parts in the fourth quarter valued at $34,000. Investors Research Corp raised its stake in shares of Genuine Parts by 75.3% during the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer’s stock worth $35,000 after buying an additional 125 shares during the last quarter. Finally, McIlrath & Eck LLC raised its stake in shares of Genuine Parts by 265.0% during the 4th quarter. McIlrath & Eck LLC now owns 376 shares of the specialty retailer’s stock worth $44,000 after buying an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE:GPC opened at $120.47 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.15 and a quick ratio of 0.52. The firm has a market cap of $16.72 billion, a PE ratio of 19.78 and a beta of 0.76. The firm has a 50 day simple moving average of $121.89 and a 200-day simple moving average of $119.83. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $149.22.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.09. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.83 billion. On average, equities analysts expect that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 annualized dividend and a yield of 3.42%. Genuine Parts’s dividend payout ratio (DPR) is presently 67.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GPC shares. The Goldman Sachs Group reissued a “sell” rating and issued a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Truist Financial increased their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. Wall Street Zen cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. Argus upgraded Genuine Parts to a “strong-buy” rating in a research report on Friday, April 25th. Finally, Evercore ISI lowered their target price on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.86.

Genuine Parts Company Profile

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.