Cinctive Capital Management LP Invests $9.03 Million in Genuine Parts (NYSE:GPC)

Cinctive Capital Management LP acquired a new position in shares of Genuine Parts (NYSE:GPC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 77,338 shares of the specialty retailer's stock, valued at approximately $9,030,000. Cinctive Capital Management LP owned about 0.06% of Genuine Parts at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quantinno Capital Management LP increased its position in shares of 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 during the last quarter. Caprock Group LLC acquired a new position in Genuine Parts during the fourth quarter worth $540,000. Verity & Verity LLC grew its stake in shares of Genuine Parts by 9.7% in the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer's stock valued at $12,198,000 after buying an additional 9,199 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Genuine Parts during the 4th quarter valued at about $21,840,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in Genuine Parts by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer's stock worth $42,417,000 after purchasing an additional 56,776 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

NYSE GPC traded down $6.89 during trading hours on Monday, hitting $109.92. The company had a trading volume of 964,154 shares, compared to its average volume of 1,585,446. The business has a 50 day moving average of $121.16 and a 200-day moving average of $123.34. The company has a market cap of $15.25 billion, a PE ratio of 16.96 and a beta of 0.82. Genuine Parts has a 1-year low of $108.86 and a 1-year high of $164.45. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16.

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Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter last year, the business posted $2.26 EPS. As a group, equities research analysts expect that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, March 7th were paid a dividend of $1.03 per share. The ex-dividend date was Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.75%. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's dividend payout ratio is currently 63.68%.

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of research reports. The Goldman Sachs Group restated a "sell" rating and issued a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Northcoast Research downgraded shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective on the stock. Truist Financial lifted their target price on Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Finally, Evercore ISI upgraded Genuine Parts from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $128.00 to $135.00 in a research note on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Genuine Parts currently has a consensus rating of "Hold" and a consensus price target of $135.88.

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.