Blueshift Asset Management LLC Acquires 3,444 Shares of Genuine Parts (NYSE:GPC)

Blueshift Asset Management LLC raised its stake in Genuine Parts (NYSE:GPC - Free Report) by 25.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,818 shares of the specialty retailer's stock after buying an additional 3,444 shares during the quarter. Genuine Parts accounts for about 0.7% of Blueshift Asset Management LLC's holdings, making the stock its 20th biggest position. Blueshift Asset Management LLC's holdings in Genuine Parts were worth $1,964,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GPC. Kestra Investment Management LLC acquired a new stake in Genuine Parts during the fourth quarter valued at $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Genuine Parts during the 4th quarter valued at about $28,000. Compass Planning Associates Inc acquired a new stake in shares of Genuine Parts during the 4th quarter valued at about $29,000. Synergy Asset Management LLC acquired a new position in Genuine Parts in the fourth quarter worth approximately $32,000. Finally, OFI Invest Asset Management acquired a new position in Genuine Parts in the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

GPC has been the subject of several analyst reports. Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Truist Financial upped their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Evercore ISI cut their price objective on Genuine Parts from $128.00 to $125.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 19th. Finally, Loop Capital assumed coverage on Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 target price for the company. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $137.63.

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Genuine Parts Stock Performance

Shares of Genuine Parts stock traded up $2.02 during midday trading on Monday, hitting $120.80. The company had a trading volume of 830,926 shares, compared to its average volume of 1,148,894. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The business's 50 day simple moving average is $121.07 and its two-hundred day simple moving average is $124.47. The stock has a market cap of $16.77 billion, a PE ratio of 18.67 and a beta of 0.93. 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 - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $5.77 billion for 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 period last year, the business posted $2.26 EPS. As a group, equities analysts predict that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be issued a $1.03 dividend. 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. This represents a $4.12 annualized dividend and a yield of 3.41%. Genuine Parts's dividend payout ratio 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.