Mariner LLC Has $9 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Mariner LLC trimmed its position in Genuine Parts (NYSE:GPC - Free Report) by 18.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,075 shares of the specialty retailer's stock after selling 17,197 shares during the quarter. Mariner LLC owned about 0.06% of Genuine Parts worth $8,999,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in 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 worth $391,604,000 after buying an additional 65,783 shares during the last quarter. Invesco Ltd. boosted its position in shares of Genuine Parts by 18.9% during the fourth quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock worth $380,898,000 after buying an additional 518,851 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Genuine Parts by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock worth $337,428,000 after buying an additional 145,960 shares in the last quarter. JPMorgan Chase & Co. raised its position in Genuine Parts by 6.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock valued at $257,124,000 after purchasing an additional 114,180 shares in the last quarter. Finally, Norges Bank acquired a new stake in Genuine Parts in the fourth quarter valued at $206,645,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GPC. The Goldman Sachs Group restated a "sell" rating and issued a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Loop Capital initiated coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a "buy" rating and a $155.00 target price for the company. StockNews.com raised Genuine Parts from a "hold" rating to a "buy" rating in a research note on Friday, April 18th. Truist Financial lifted their price objective on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $130.86.

Genuine Parts Stock Performance

Genuine Parts stock traded up $0.38 during mid-day trading on Thursday, reaching $116.52. The company had a trading volume of 334,731 shares, compared to its average volume of 1,624,992. Genuine Parts has a 52 week low of $104.01 and a 52 week high of $162.14. The firm has a market cap of $16.17 billion, a price-to-earnings ratio of 17.99 and a beta of 0.82. The company has a 50 day moving average of $119.24 and a 200-day moving average of $120.97. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.09. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.83 billion. On average, sell-side analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently announced 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. This represents a $4.12 dividend on an annualized basis and a yield of 3.54%. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Friday, March 7th. Genuine Parts's dividend payout ratio is presently 63.68%.

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.