Assenagon Asset Management S.A. Acquires 63,328 Shares of Genuine Parts (NYSE:GPC)

Assenagon Asset Management S.A. increased its stake in Genuine Parts (NYSE:GPC - Free Report) by 1,368.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 67,955 shares of the specialty retailer's stock after acquiring an additional 63,328 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Genuine Parts were worth $7,934,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Metis Global Partners LLC lifted its position in shares of Genuine Parts by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer's stock valued at $625,000 after acquiring an additional 85 shares in the last quarter. Guardian Wealth Advisors LLC lifted its holdings in shares of Genuine Parts by 2.7% in the third quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer's stock valued at $484,000 after purchasing an additional 91 shares in the last quarter. Marco Investment Management LLC boosted its position in shares of Genuine Parts by 1.2% in the third quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer's stock worth $1,104,000 after buying an additional 91 shares during the period. First Citizens Bank & Trust Co. grew its holdings in shares of Genuine Parts by 5.9% during the third quarter. First Citizens Bank & Trust Co. now owns 1,711 shares of the specialty retailer's stock valued at $239,000 after buying an additional 95 shares in the last quarter. Finally, Citizens Financial Group Inc. RI raised its position in Genuine Parts by 2.8% during the third quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer's stock valued at $533,000 after buying an additional 103 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 0.8 %

Shares of NYSE GPC traded down $0.99 during mid-day trading on Monday, reaching $118.43. 2,448,055 shares of the company traded hands, compared to its average volume of 983,311. The company's fifty day moving average is $120.69 and its two-hundred day moving average is $130.37. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The stock has a market cap of $16.47 billion, a PE ratio of 15.24 and a beta of 0.95.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts' consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the previous year, the firm posted $2.49 earnings per share. Genuine Parts's quarterly revenue was up 3.0% compared to the same quarter last year. On average, analysts expect that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.38%. Genuine Parts's dividend payout ratio is presently 51.48%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Truist Financial lowered their target price on Genuine Parts from $164.00 to $129.00 and set a "buy" rating on the stock in a research note on Wednesday, October 23rd. Loop Capital assumed coverage on shares of Genuine Parts in a research note on Thursday. They issued a "buy" rating and a $155.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on shares of Genuine Parts from $162.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday, October 22nd. StockNews.com lowered Genuine Parts from a "buy" rating to a "hold" rating in a report on Wednesday, October 16th. Finally, Wedbush dropped their target price on Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $141.50.

Insider Activity at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the business's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.37% of the stock is owned by corporate insiders.

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.