First City Capital Management Inc. Has $511,000 Stock Position in Genuine Parts (NYSE:GPC)

First City Capital Management Inc. decreased its stake in Genuine Parts (NYSE:GPC) by 5.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,288 shares of the specialty retailer’s stock after selling 262 shares during the period. First City Capital Management Inc.’s holdings in Genuine Parts were worth $511,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of GPC. JPMorgan Chase & Co. boosted its stake in Genuine Parts by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock worth $257,124,000 after buying an additional 114,180 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Genuine Parts by 45.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,140 shares of the specialty retailer’s stock worth $2,356,000 after buying an additional 6,326 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Genuine Parts by 66.8% during the fourth quarter. State of Alaska Department of Revenue now owns 38,854 shares of the specialty retailer’s stock worth $4,536,000 after buying an additional 15,563 shares in the last quarter. Financial Advocates Investment Management boosted its stake in Genuine Parts by 49.1% during the fourth quarter. Financial Advocates Investment Management now owns 6,095 shares of the specialty retailer’s stock worth $712,000 after buying an additional 2,006 shares in the last quarter. Finally, Telos Capital Management Inc. boosted its stake in Genuine Parts by 1.9% during the fourth quarter. Telos Capital Management Inc. now owns 40,182 shares of the specialty retailer’s stock worth $4,692,000 after buying an additional 747 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on GPC. Evercore ISI reduced their target price on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Truist Financial boosted their target price on shares of Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Argus upgraded shares of Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. The Goldman Sachs Group restated a “sell” rating and issued a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Finally, Wall Street Zen downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $130.86.

Genuine Parts Stock Performance

Genuine Parts stock opened at $125.36 on Friday. The stock has a 50-day simple moving average of $119.68 and a 200 day simple moving average of $120.36. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. Genuine Parts has a 12-month low of $104.01 and a 12-month high of $149.22. The stock has a market capitalization of $17.40 billion, a price-to-earnings ratio of 19.38 and a beta of 0.76.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.09. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.83 billion. On average, research analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be issued a $1.03 dividend. The ex-dividend date is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.29%. Genuine Parts’s dividend payout ratio 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.