Amundi Acquires 178,050 Shares of Genuine Parts (NYSE:GPC)

Amundi boosted its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 45.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 573,366 shares of the specialty retailer's stock after acquiring an additional 178,050 shares during the quarter. Amundi owned approximately 0.41% of Genuine Parts worth $66,814,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP raised its position in Genuine Parts by 74.0% during the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer's stock valued at $1,580,000 after acquiring an additional 4,809 shares in the last quarter. Caprock Group LLC acquired a new position in Genuine Parts during the fourth quarter valued at approximately $540,000. Miramar Capital LLC grew its holdings in Genuine Parts by 9.8% during the third quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer's stock valued at $12,264,000 after purchasing an additional 7,845 shares during the last quarter. Verity & Verity LLC grew its holdings in Genuine Parts by 9.7% during the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer's stock valued at $12,198,000 after purchasing an additional 9,199 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Genuine Parts during the fourth quarter valued at approximately $21,840,000. Institutional investors own 78.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Northcoast Research downgraded Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Truist Financial increased their price target on Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Loop Capital assumed coverage on Genuine Parts in a report on Thursday, January 16th. They set a "buy" rating and a $155.00 price target on the stock. Finally, Evercore ISI lowered their price target on Genuine Parts from $128.00 to $125.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Genuine Parts has a consensus rating of "Hold" and an average target price of $137.63.

Remove Ads

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 1,608 shares of the firm's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares of the company's stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is owned by company insiders.

Genuine Parts Trading Down 4.1 %

Shares of Genuine Parts stock opened at $123.74 on Wednesday. The company's fifty day simple moving average is $120.15 and its 200-day simple moving average is $125.76. The company has a market cap of $17.17 billion, a price-to-earnings ratio of 19.13 and a beta of 0.93. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter last year, the company posted $2.26 earnings per share. As a group, sell-side 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 will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a $1.03 dividend. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts's dividend payout ratio (DPR) is 63.68%.

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.

Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts (NYSE:GPC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.