Genuine Parts (NYSE:GPC) Shares Bought by CX Institutional

CX Institutional increased its position in Genuine Parts (NYSE:GPC) by 27.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,714 shares of the specialty retailer’s stock after acquiring an additional 789 shares during the period. CX Institutional’s holdings in Genuine Parts were worth $442,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Genuine Parts by 12.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer’s stock worth $198,338,000 after buying an additional 182,965 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Genuine Parts by 436.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer’s stock worth $3,672,000 after acquiring an additional 25,583 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Genuine Parts in the fourth quarter valued at about $21,840,000. Parvin Asset Management LLC purchased a new stake in shares of Genuine Parts in the fourth quarter valued at about $1,320,000. Finally, FORA Capital LLC lifted its holdings in shares of Genuine Parts by 410.9% in the fourth quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer’s stock valued at $3,075,000 after purchasing an additional 21,178 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GPC has been the topic of several recent research reports. Evercore ISI reduced their price target on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Saturday, April 26th. Argus raised shares of Genuine Parts to a “strong-buy” rating in a report on Friday, April 25th. Truist Financial upped their price objective on shares of Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Finally, 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $130.86.

Genuine Parts Stock Performance

Shares of GPC stock opened at $119.43 on Friday. The company’s fifty day simple moving average is $120.58 and its 200-day simple moving average is $120.29. Genuine Parts has a 52 week low of $104.01 and a 52 week high of $149.22. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The company has a market cap of $16.58 billion, a PE ratio of 18.46 and a beta of 0.76.

Genuine Parts (NYSE:GPC) last issued its 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. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. As a group, equities research analysts anticipate that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts’s dividend payout ratio (DPR) 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.