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

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

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of Genuine Parts by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer’s stock worth $391,604,000 after buying an additional 65,783 shares during the period. Invesco Ltd. boosted its holdings in shares of Genuine Parts by 18.9% during the fourth quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer’s stock worth $380,898,000 after purchasing an additional 518,851 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Genuine Parts by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer’s stock worth $337,428,000 after purchasing an additional 145,960 shares during the period. Stifel Financial Corp boosted its holdings in shares of Genuine Parts by 21.6% during the fourth quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer’s stock worth $292,233,000 after purchasing an additional 445,259 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Genuine Parts by 5.1% during the fourth quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer’s stock worth $249,426,000 after purchasing an additional 104,343 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Argus upgraded shares of Genuine Parts to a “strong-buy” rating in a report on Friday, April 25th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Truist Financial raised their price objective 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 lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Saturday, April 26th. Finally, Evercore ISI cut their price objective on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. One 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. Based on data from MarketBeat, Genuine Parts has a consensus rating of “Moderate Buy” and a consensus target price of $130.86.

Genuine Parts Trading Down 0.6%

NYSE:GPC opened at $125.36 on Friday. Genuine Parts has a 12 month low of $104.01 and a 12 month high of $149.22. The firm has a market cap of $17.40 billion, a price-to-earnings ratio of 19.38 and a beta of 0.76. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The company’s 50 day moving average is $119.68 and its 200-day moving average is $120.36.

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

Genuine Parts Dividend Announcement

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 paid a $1.03 dividend. The ex-dividend date is Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.29%. Genuine Parts’s 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.