Farmers & Merchants Investments Inc. Sells 1,575 Shares of Genuine Parts (NYSE:GPC)

Farmers & Merchants Investments Inc. reduced its stake in Genuine Parts (NYSE:GPC) by 3.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,909 shares of the specialty retailer’s stock after selling 1,575 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Genuine Parts were worth $4,755,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new stake in Genuine Parts during the fourth quarter valued at $25,000. Kestra Investment Management LLC bought a new stake in Genuine Parts during the fourth quarter valued at $28,000. First Command Advisory Services Inc. bought a new stake in Genuine Parts during the fourth quarter valued at $28,000. Compass Planning Associates Inc bought a new stake in Genuine Parts during the fourth quarter valued at $29,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Genuine Parts during the fourth quarter valued at $33,000. 78.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on GPC. The Goldman Sachs Group reissued a “sell” rating and set a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Argus raised Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. Wall Street Zen lowered Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. Evercore ISI dropped their price target on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Finally, Truist Financial lifted their price target 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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.86.

Genuine Parts Stock Down 2.2%

GPC opened at $119.43 on Friday. The company has a market cap of $16.58 billion, a P/E ratio of 18.46 and a beta of 0.76. The business’s 50-day moving average price is $120.58 and its 200-day moving average price is $120.25. The company has a current ratio of 1.16, a quick ratio of 0.57 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.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data 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 the consensus estimate of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. On average, equities analysts expect that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.45%. Genuine Parts’s dividend payout ratio is currently 67.65%.

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.