Occudo Quantitative Strategies LP boosted its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 118.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,246 shares of the specialty retailer's stock after buying an additional 16,933 shares during the period. Occudo Quantitative Strategies LP's holdings in Genuine Parts were worth $4,328,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. increased its position in Genuine Parts by 27.1% during the 4th quarter. NBC Securities Inc. now owns 3,129 shares of the specialty retailer's stock valued at $433,000 after buying an additional 668 shares in the last quarter. ICW Investment Advisors LLC increased its holdings in shares of Genuine Parts by 2.8% in the 4th quarter. ICW Investment Advisors LLC now owns 8,084 shares of the specialty retailer's stock worth $1,120,000 after purchasing an additional 221 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Genuine Parts by 22.0% in the 4th quarter. BNP Paribas Financial Markets now owns 148,121 shares of the specialty retailer's stock worth $20,515,000 after purchasing an additional 26,710 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Genuine Parts by 27.0% in the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer's stock worth $281,078,000 after purchasing an additional 431,623 shares in the last quarter. Finally, Conning Inc. increased its holdings in shares of Genuine Parts by 5.9% in the 4th quarter. Conning Inc. now owns 227,942 shares of the specialty retailer's stock worth $31,501,000 after purchasing an additional 12,634 shares in the last quarter. Institutional investors own 78.83% of the company's stock.
Analyst Upgrades and Downgrades
GPC has been the subject of a number of research analyst reports. Wedbush reissued a "neutral" rating and issued a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Jefferies Financial Group lifted their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a "hold" rating in a report on Friday, April 19th. StockNews.com raised Genuine Parts from a "hold" rating to a "buy" rating in a report on Friday, May 24th. Truist Financial lifted their price objective on Genuine Parts from $167.00 to $183.00 and gave the stock a "buy" rating in a report on Friday, April 19th. Finally, Evercore ISI cut their price objective on Genuine Parts from $160.00 to $155.00 and set an "in-line" rating for the company in a report on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Genuine Parts presently has an average rating of "Hold" and an average target price of $171.33.
Read Our Latest Research Report on Genuine Parts
Genuine Parts Stock Performance
GPC traded down $4.21 during midday trading on Friday, reaching $136.70. The company had a trading volume of 1,159,285 shares, compared to its average volume of 753,922. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average of $150.56 and a two-hundred day moving average of $146.10. The company has a market cap of $19.04 billion, a P/E ratio of 15.24 and a beta of 0.92. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $170.57.
Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.07. The business had revenue of $5.78 billion during the quarter, compared to analysts' expectations of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business's quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.14 earnings per share. As a group, equities research analysts predict that Genuine Parts will post 9.92 earnings per share for the current fiscal year.
Genuine Parts Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Friday, June 7th. Genuine Parts's payout ratio is 44.59%.
Insiders Place Their Bets
In other news, Director Wendy B. Needham sold 3,000 shares of the company's stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the transaction, the director now owns 13,006 shares of the company's stock, valued at $1,967,677.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Wendy B. Needham sold 3,000 shares of the company's stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the transaction, the director now owns 13,006 shares of the company's stock, valued at $1,967,677.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Wendy B. Needham sold 3,250 shares of the company's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now directly owns 14,397 shares of the company's stock, valued at approximately $2,230,383.24. The disclosure for this sale can be found here. Company insiders own 0.37% of the company's stock.
Genuine Parts Company Profile
(Free Report)
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.
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