Genuine Parts (NYSE:GPC) Stake Lifted by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV grew its holdings in shares of Genuine Parts (NYSE:GPC) by 1.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 18,581 shares of the specialty retailer’s stock after acquiring an additional 211 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Genuine Parts were worth $2,173,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GPC. Norges Bank acquired a new position in Genuine Parts during the 4th quarter worth $206,645,000. Junto Capital Management LP acquired a new position in Genuine Parts during the 4th quarter worth $94,868,000. Equity Investment Corp acquired a new stake in shares of Genuine Parts in the fourth quarter valued at $84,128,000. Alyeska Investment Group L.P. lifted its holdings in shares of Genuine Parts by 204.7% in the fourth quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer’s stock valued at $92,129,000 after buying an additional 530,057 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Genuine Parts by 18.9% in the fourth quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer’s stock valued at $380,898,000 after buying an additional 518,851 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the subject of several research analyst reports. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Saturday, April 26th. Evercore ISI cut their price objective on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Argus upgraded Genuine Parts to a “strong-buy” rating in a report on Friday, April 25th. The Goldman Sachs Group restated a “sell” rating and issued a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Finally, Truist Financial upped their price objective on Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $130.86.

Genuine Parts Trading Up 0.9%

Shares of NYSE GPC opened at $128.67 on Friday. Genuine Parts has a 12 month low of $104.01 and a 12 month high of $153.44. The company has a market cap of $17.86 billion, a price-to-earnings ratio of 19.89 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 business has a fifty day simple moving average of $117.81 and a 200-day simple moving average of $119.72.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $5.83 billion. Sell-side analysts predict that Genuine Parts will post 7.9 EPS for the current 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 given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.20%. The ex-dividend date is Friday, June 6th. 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.