11,305 Shares in Genuine Parts (NYSE:GPC) Acquired by Parvin Asset Management LLC

Parvin Asset Management LLC bought a new position in shares of Genuine Parts (NYSE:GPC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,305 shares of the specialty retailer’s stock, valued at approximately $1,320,000. Genuine Parts makes up 1.4% of Parvin Asset Management LLC’s investment portfolio, making the stock its 12th biggest holding.

A number of other large investors have also bought and sold shares of GPC. Hartford Financial Management Inc. lifted its holdings in shares of Genuine Parts by 0.5% during the fourth quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock worth $2,185,000 after buying an additional 99 shares in the last quarter. New York Life Investment Management LLC increased its position in shares of Genuine Parts by 0.6% in the fourth quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer’s stock worth $2,188,000 after purchasing an additional 108 shares during the period. Grimes & Company Inc. increased its position in shares of Genuine Parts by 3.3% in the fourth quarter. Grimes & Company Inc. now owns 3,494 shares of the specialty retailer’s stock worth $408,000 after purchasing an additional 111 shares during the period. Pinnacle Financial Partners Inc increased its position in shares of Genuine Parts by 2.5% in the fourth quarter. Pinnacle Financial Partners Inc now owns 4,630 shares of the specialty retailer’s stock worth $541,000 after purchasing an additional 115 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Genuine Parts by 1.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,512 shares of the specialty retailer’s stock worth $877,000 after purchasing an additional 128 shares during the period. 78.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GPC has been the topic of a number of recent analyst reports. The Goldman Sachs Group restated a “sell” rating and issued a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research report on Saturday. Loop Capital started coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Finally, Truist Financial increased their target price on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $130.86.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $118.43 on Wednesday. The firm has a 50 day simple moving average of $118.79 and a 200 day simple moving average of $120.39. The company has a market cap of $16.44 billion, a price-to-earnings ratio of 18.30 and a beta of 0.82. Genuine Parts has a one year low of $104.01 and a one year high of $160.37. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57.

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

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders 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 dividend yield of 3.48%. Genuine Parts’s payout ratio is currently 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.