Ceeto Capital Group LLC Invests $589,000 in Genuine Parts (NYSE:GPC)

Ceeto Capital Group LLC purchased a new stake in shares of Genuine Parts (NYSE:GPC - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 5,000 shares of the specialty retailer's stock, valued at approximately $589,000.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its holdings 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 during the last quarter. Invesco Ltd. lifted its stake in shares of Genuine Parts by 18.9% in the fourth quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock worth $380,898,000 after buying an additional 518,851 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Genuine Parts by 5.3% during 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 buying an additional 145,960 shares during the period. JPMorgan Chase & Co. grew its stake in Genuine Parts by 6.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock valued at $257,124,000 after buying an additional 114,180 shares during the last quarter. Finally, Norges Bank bought a new position in Genuine Parts in the 4th quarter worth $206,645,000. Institutional investors own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Evercore ISI upgraded shares of Genuine Parts from an "in-line" rating to an "outperform" rating and upped their price target for the company from $128.00 to $135.00 in a report on Friday, April 4th. 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 note on Tuesday, April 1st. Loop Capital initiated coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price target on the stock. Truist Financial increased their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Finally, Northcoast Research cut shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Genuine Parts presently has a consensus rating of "Hold" and a consensus target price of $135.88.

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Genuine Parts Price Performance

Shares of NYSE:GPC traded down $1.87 during midday trading on Tuesday, reaching $114.37. 1,076,412 shares of the company's stock were exchanged, compared to its average volume of 1,256,008. 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 company's 50 day simple moving average is $120.16 and its two-hundred day simple moving average is $121.86. Genuine Parts has a 12 month low of $104.01 and a 12 month high of $164.45. The firm has a market capitalization of $15.87 billion, a PE ratio of 17.68 and a beta of 0.82.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the previous year, the business earned $2.26 earnings per share. Equities research analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal 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 paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Friday, March 7th. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's payout ratio is currently 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.