Short Interest in Genuine Parts (NYSE:GPC) Expands By 19.6%

Genuine Parts (NYSE:GPC - Get Free Report) saw a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 4,520,000 shares, an increase of 19.6% from the January 31st total of 3,780,000 shares. Approximately 3.3% of the company's stock are sold short. Based on an average daily volume of 1,430,000 shares, the days-to-cover ratio is currently 3.2 days.

Genuine Parts Stock Performance

Shares of NYSE GPC traded up $1.48 during trading hours on Friday, reaching $127.41. The stock had a trading volume of 1,428,411 shares, compared to its average volume of 1,127,657. The firm has a market cap of $17.68 billion, a price-to-earnings ratio of 19.69 and a beta of 0.93. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The firm has a 50-day moving average of $119.74 and a 200-day moving average of $125.97.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data 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. 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 during the quarter, compared to analysts' expectations of $5.71 billion. During the same period last year, the firm earned $2.26 EPS. Equities research analysts predict that Genuine Parts will post 7.9 earnings per share for the current year.

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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 given 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 a boost from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts's dividend payout ratio (DPR) is presently 63.68%.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.37% of the stock is owned by company insiders.

Institutional Trading of Genuine Parts

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its position in Genuine Parts by 5.4% during the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer's stock worth $1,103,300,000 after acquiring an additional 401,180 shares during the period. Geode Capital Management LLC lifted its holdings in shares of 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 valued at $391,604,000 after buying an additional 65,783 shares during the period. Invesco Ltd. lifted its holdings in shares of Genuine Parts by 18.9% in the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock valued at $380,898,000 after buying an additional 518,851 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Genuine Parts by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock valued at $337,428,000 after buying an additional 145,960 shares during the period. Finally, Stifel Financial Corp lifted its holdings in shares of Genuine Parts by 21.6% in the 4th quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock valued at $292,233,000 after buying an additional 445,259 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on GPC. Truist Financial increased their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Loop Capital began coverage on Genuine Parts in a report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective on the stock. 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 report on Wednesday, February 19th. Redburn Atlantic upgraded Genuine Parts to a "hold" rating in a report on Monday, November 11th. Finally, Northcoast Research cut Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Genuine Parts currently has an average rating of "Hold" and a consensus price target of $137.63.

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.