Artisan Partners Limited Partnership Takes Position in Genuine Parts (NYSE:GPC)

Artisan Partners Limited Partnership bought a new position in Genuine Parts (NYSE:GPC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 171,000 shares of the specialty retailer's stock, valued at approximately $19,966,000. Artisan Partners Limited Partnership owned about 0.12% of Genuine Parts at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in shares of Genuine Parts in the 4th quarter worth about $25,000. Kestra Investment Management LLC purchased a new stake in shares of Genuine Parts in the fourth quarter worth $28,000. First Command Advisory Services Inc. bought a new stake in Genuine Parts during the 4th quarter valued at about $28,000. Compass Planning Associates Inc bought a new position in Genuine Parts in the 4th quarter valued at approximately $29,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of Genuine Parts during the fourth quarter valued at $32,000. Institutional investors own 78.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Loop Capital assumed coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a "buy" rating and a $155.00 target price on the stock. Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. The Goldman Sachs Group reissued a "sell" rating and issued a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday. Truist Financial boosted their price target on Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Finally, Evercore ISI increased their price objective on shares of Genuine Parts from $125.00 to $128.00 and gave the stock an "in-line" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $135.00.

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Genuine Parts Price Performance

NYSE GPC traded down $1.26 during trading hours on Tuesday, reaching $117.88. The company's stock had a trading volume of 798,579 shares, compared to its average volume of 1,211,656. Genuine Parts has a 1 year low of $112.74 and a 1 year 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 company has a market capitalization of $16.36 billion, a price-to-earnings ratio of 18.23 and a beta of 0.93. The firm's 50-day moving average price is $121.14 and its 200-day moving average price is $123.88.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.07. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates 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 in the prior year, the business earned $2.26 earnings per share. On average, equities research analysts predict that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.50%. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts's dividend payout ratio is 63.68%.

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.