Charles Schwab Investment Management Inc. Acquires 145,960 Shares of Genuine Parts (NYSE:GPC)

Charles Schwab Investment Management Inc. increased its holdings in Genuine Parts (NYSE:GPC - Free Report) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,889,930 shares of the specialty retailer's stock after purchasing an additional 145,960 shares during the period. Charles Schwab Investment Management Inc. owned approximately 2.08% of Genuine Parts worth $337,428,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in shares of Genuine Parts by 90.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,300 shares of the specialty retailer's stock valued at $461,000 after acquiring an additional 1,569 shares during the last quarter. Van ECK Associates Corp grew its holdings in Genuine Parts by 11.0% during the third quarter. Van ECK Associates Corp now owns 23,057 shares of the specialty retailer's stock valued at $3,221,000 after purchasing an additional 2,286 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of Genuine Parts by 7.9% in the third quarter. QRG Capital Management Inc. now owns 15,261 shares of the specialty retailer's stock valued at $2,132,000 after purchasing an additional 1,120 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Genuine Parts in the third quarter worth $44,000. Finally, FSM Wealth Advisors LLC bought a new stake in shares of Genuine Parts during the 3rd quarter worth $226,000. 78.83% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other news, Director Wendy B. Needham sold 1,608 shares of the business's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.37% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on GPC shares. Redburn Atlantic upgraded shares of Genuine Parts to a "hold" rating in a report on Monday, November 11th. Evercore ISI dropped 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. Northcoast Research downgraded Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They issued a "buy" rating and a $155.00 target price on the stock. Finally, Truist Financial upped their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $137.63.

Genuine Parts Stock Performance

Shares of NYSE:GPC traded up $1.48 during trading on Friday, hitting $127.41. 1,428,411 shares of the stock were exchanged, compared to its average volume of 1,127,657. The company's fifty day simple moving average is $119.74 and its 200-day simple moving average is $126.10. 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 has a market capitalization of $17.68 billion, a price-to-earnings ratio of 19.69 and a beta of 0.93. 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 results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the previous year, the firm posted $2.26 EPS. Sell-side analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.23%. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts's payout ratio is presently 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.