Xponance Inc. Increases Stock Holdings in Genuine Parts Company (NYSE:GPC)

Xponance Inc. boosted its holdings in shares of Genuine Parts Company (NYSE:GPC) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,502 shares of the specialty retailer’s stock after acquiring an additional 312 shares during the quarter. Xponance Inc.’s holdings in Genuine Parts were worth $2,323,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GPC. Millstone Evans Group LLC purchased a new stake in shares of Genuine Parts during the fourth quarter valued at $25,000. Rossby Financial LCC purchased a new stake in shares of Genuine Parts in the 1st quarter worth $25,000. Olde Wealth Management LLC purchased a new stake in shares of Genuine Parts in the 1st quarter worth $27,000. North Capital Inc. purchased a new stake in shares of Genuine Parts in the 1st quarter worth $28,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Genuine Parts in the 4th quarter worth $33,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GPC. Evercore ISI lowered their target price on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group restated a “sell” rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Wall Street Zen cut 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 note on Friday, April 25th. Finally, Truist Financial upped their price objective on Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Genuine Parts currently has an average rating of “Moderate Buy” and an average target price of $130.86.

Genuine Parts Trading Down 0.1%

Shares of NYSE:GPC opened at $124.40 on Tuesday. The business’s 50-day moving average is $123.67 and its 200 day moving average is $120.42. 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 capitalization of $17.27 billion, a P/E ratio of 20.43 and a beta of 0.74. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $149.22.

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

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Friday, June 6th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.31%. The ex-dividend date was Friday, June 6th. Genuine Parts’s dividend payout ratio (DPR) is 67.65%.

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.