Allstate Corp Makes New $487,000 Investment in Genuine Parts (NYSE:GPC)

Allstate Corp bought a new stake in shares of Genuine Parts (NYSE:GPC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,172 shares of the specialty retailer's stock, valued at approximately $487,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GPC. State Street Corp lifted its position in shares of Genuine Parts by 5.4% during the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer's stock valued at $1,103,300,000 after buying an additional 401,180 shares in the last quarter. Geode Capital Management LLC raised its stake in Genuine Parts by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer's stock worth $458,947,000 after acquiring an additional 32,858 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Genuine Parts by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock valued at $337,428,000 after purchasing an additional 145,960 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Genuine Parts by 1.2% in the third quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer's stock worth $287,405,000 after purchasing an additional 25,015 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Genuine Parts by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock worth $257,124,000 after purchasing an additional 114,180 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

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Genuine Parts Trading Down 1.6 %

GPC traded down $1.88 on Friday, hitting $116.80. The company had a trading volume of 1,750,365 shares, compared to its average volume of 1,226,778. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. 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's fifty day simple moving average is $121.16 and its 200 day simple moving average is $123.34. The company has a market cap of $16.21 billion, a PE ratio of 18.05 and a beta of 0.82.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.07. The firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter in the previous year, the company posted $2.26 EPS. Equities research analysts expect that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's dividend payout ratio (DPR) is 63.68%.

Analysts Set New Price Targets

Several brokerages recently weighed in on GPC. Evercore ISI raised shares of Genuine Parts from an "in-line" rating to an "outperform" rating and upped their target price for the stock from $128.00 to $135.00 in a report on Friday. The Goldman Sachs Group restated a "sell" rating and set a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Loop Capital began coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price target on the stock. Northcoast Research downgraded shares of Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Finally, Truist Financial lifted their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $135.88.

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.