Commonwealth Equity Services LLC Boosts Stake in Genuine Parts (NYSE:GPC)

Commonwealth Equity Services LLC boosted its holdings in Genuine Parts (NYSE:GPC - Free Report) by 15.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 96,699 shares of the specialty retailer's stock after acquiring an additional 12,610 shares during the quarter. Commonwealth Equity Services LLC owned 0.07% of Genuine Parts worth $11,291,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group grew its stake in shares of Genuine Parts by 8.2% in the 4th quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 10,545 shares of the specialty retailer's stock worth $1,231,000 after acquiring an additional 799 shares in the last quarter. Truvestments Capital LLC bought a new stake in Genuine Parts in the 4th quarter worth about $93,000. HighTower Advisors LLC increased its stake in Genuine Parts by 21.5% in the 4th quarter. HighTower Advisors LLC now owns 127,872 shares of the specialty retailer's stock valued at $14,930,000 after buying an additional 22,585 shares during the last quarter. Wealthfront Advisers LLC lifted its position in shares of Genuine Parts by 796.3% during the 4th quarter. Wealthfront Advisers LLC now owns 66,290 shares of the specialty retailer's stock worth $7,740,000 after buying an additional 58,894 shares in the last quarter. Finally, Avantax Planning Partners Inc. grew its holdings in shares of Genuine Parts by 2.9% in the fourth quarter. Avantax Planning Partners Inc. now owns 16,190 shares of the specialty retailer's stock valued at $1,890,000 after acquiring an additional 450 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

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Genuine Parts Stock Performance

GPC traded down $1.82 on Friday, hitting $118.93. The company's stock had a trading volume of 3,064,471 shares, compared to its average volume of 1,147,925. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The firm has a market cap of $16.50 billion, a P/E ratio of 18.38 and a beta of 0.93. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The company's 50 day simple moving average is $120.99 and its 200-day simple moving average is $124.83.

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, 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 firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period last year, the company earned $2.26 earnings per share. Analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The company 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 3.46%. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts's dividend payout ratio is presently 63.68%.

Analyst Ratings Changes

Several research firms have weighed in on GPC. Northcoast Research cut Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Loop Capital started coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price target on the stock. Truist Financial raised their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Finally, Evercore ISI dropped their target price on shares of 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. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $137.63.

Genuine Parts 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.