Mizuho Securities USA LLC Raises Stake in Genuine Parts (NYSE:GPC)

Mizuho Securities USA LLC raised its stake in Genuine Parts (NYSE:GPC - Free Report) by 45.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,177 shares of the specialty retailer's stock after acquiring an additional 4,143 shares during the period. Mizuho Securities USA LLC's holdings in Genuine Parts were worth $1,539,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GPC. Millstone Evans Group LLC purchased a new position in shares of Genuine Parts during the fourth quarter valued at approximately $25,000. Kestra Investment Management LLC bought a new position in shares of Genuine Parts in the fourth quarter worth about $28,000. First Command Advisory Services Inc. purchased a new position in shares of Genuine Parts during the 4th quarter valued at $28,000. Compass Planning Associates Inc purchased a new stake in shares of Genuine Parts during the fourth quarter worth about $29,000. Finally, Synergy Asset Management LLC bought a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $32,000. 78.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Truist Financial increased their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Evercore ISI reduced 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. Finally, 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 for the company. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Genuine Parts presently has a consensus rating of "Hold" and a consensus price target of $137.63.

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Genuine Parts Stock Performance

NYSE:GPC traded down $2.07 during trading hours on Friday, hitting $118.49. 1,016,010 shares of the company were exchanged, compared to its average volume of 1,213,490. The company's 50 day moving average price is $121.13 and its 200-day moving average price is $124.07. The stock has a market capitalization of $16.44 billion, a price-to-earnings ratio of 18.31 and a beta of 0.93. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the previous year, the firm posted $2.26 earnings per share. As a group, research analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Friday, March 7th. Genuine Parts's dividend 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.