Farmers & Merchants Investments Inc. Purchases 218 Shares of Genuine Parts (NYSE:GPC)

Farmers & Merchants Investments Inc. raised its position in Genuine Parts (NYSE:GPC) by 0.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,925 shares of the specialty retailer’s stock after buying an additional 218 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Genuine Parts were worth $6,076,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in GPC. VELA Investment Management LLC grew its position in shares of Genuine Parts by 26.9% in the second quarter. VELA Investment Management LLC now owns 3,124 shares of the specialty retailer’s stock valued at $432,000 after purchasing an additional 663 shares in the last quarter. Hendershot Investments Inc. grew its position in shares of Genuine Parts by 2.5% in the second quarter. Hendershot Investments Inc. now owns 121,431 shares of the specialty retailer’s stock valued at $16,796,000 after purchasing an additional 2,972 shares in the last quarter. National Bank of Canada FI grew its position in shares of Genuine Parts by 445.0% in the second quarter. National Bank of Canada FI now owns 231,353 shares of the specialty retailer’s stock valued at $30,967,000 after purchasing an additional 188,902 shares in the last quarter. TD Asset Management Inc grew its position in shares of Genuine Parts by 13.8% in the second quarter. TD Asset Management Inc now owns 102,726 shares of the specialty retailer’s stock valued at $14,209,000 after purchasing an additional 12,425 shares in the last quarter. Finally, Strategy Asset Managers LLC purchased a new position in shares of Genuine Parts in the second quarter valued at $594,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Price Performance

Shares of GPC traded up $0.26 during midday trading on Friday, reaching $137.60. The stock had a trading volume of 20,788 shares, compared to its average volume of 986,690. The company’s 50-day moving average is $139.22 and its 200 day moving average is $146.16. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $164.45. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $19.17 billion, a price-to-earnings ratio of 15.31 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $6.03 billion. During the same quarter in the previous year, the company posted $2.44 earnings per share. Genuine Parts’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities analysts predict that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GPC shares. Truist Financial reiterated a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research report on Wednesday, August 28th. Wedbush reduced their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. Evercore ISI reduced their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group reduced their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.