Skba Capital Management LLC decreased its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,060 shares of the specialty retailer's stock after selling 2,740 shares during the quarter. Skba Capital Management LLC's holdings in Genuine Parts were worth $5,728,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Genuine Parts during the 4th quarter worth approximately $206,645,000. Equity Investment Corp purchased a new stake in Genuine Parts in the fourth quarter valued at $84,128,000. Raymond James Financial Inc. purchased a new stake in Genuine Parts in the fourth quarter valued at $57,407,000. State Street Corp boosted its stake in Genuine Parts by 5.4% in the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer's stock valued at $1,103,300,000 after acquiring an additional 401,180 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Genuine Parts by 1,038.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer's stock worth $38,803,000 after purchasing an additional 253,400 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on GPC shares. Northcoast Research downgraded Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Truist Financial raised their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Evercore ISI upped their price target on shares of Genuine Parts from $125.00 to $128.00 and gave the company an "in-line" rating in a research report on Tuesday. Loop Capital started coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 price objective on the stock. Finally, 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $135.00.
View Our Latest Stock Analysis on Genuine Parts
Genuine Parts Stock Performance
NYSE:GPC traded up $1.72 during mid-day trading on Wednesday, reaching $120.17. The stock had a trading volume of 1,078,396 shares, compared to its average volume of 1,215,744. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The business has a 50 day simple moving average of $121.11 and a 200 day simple moving average of $123.75. The firm has a market capitalization of $16.68 billion, a price-to-earnings ratio of 18.57 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16.
Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business 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. On average, analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal year.
Genuine Parts Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's dividend payout ratio (DPR) is currently 63.68%.
About Genuine Parts
(
Free Report)
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.
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