Wahed Invest LLC Buys 196 Shares of Genuine Parts (NYSE:GPC)

Wahed Invest LLC grew its stake in shares of Genuine Parts (NYSE:GPC) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,572 shares of the specialty retailer’s stock after buying an additional 196 shares during the period. Wahed Invest LLC’s holdings in Genuine Parts were worth $417,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in Genuine Parts by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer’s stock worth $391,604,000 after purchasing an additional 65,783 shares in the last quarter. Invesco Ltd. boosted its stake in Genuine Parts by 18.9% during 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. Charles Schwab Investment Management Inc. increased its stake in Genuine Parts by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer’s stock worth $337,428,000 after acquiring an additional 145,960 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Genuine Parts by 21.6% in the 4th quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer’s stock valued at $292,233,000 after acquiring an additional 445,259 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Genuine Parts by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock valued at $257,124,000 after acquiring an additional 114,180 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Up 2.8 %

GPC stock opened at $120.30 on Friday. The company has a market cap of $16.70 billion, a price-to-earnings ratio of 18.59 and a beta of 0.82. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The business’s 50-day moving average is $118.55 and its two-hundred day moving average is $120.08. Genuine Parts has a fifty-two week low of $104.01 and a fifty-two week high of $159.77.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. As a group, analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be issued a $1.03 dividend. The ex-dividend date is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.42%. Genuine Parts’s dividend payout ratio is currently 67.65%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GPC shares. Argus raised shares of Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Saturday, April 26th. Loop Capital assumed coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Finally, Evercore ISI reduced their price objective on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $130.86.

Genuine Parts Company Profile

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.