Geode Capital Management LLC increased its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,362,748 shares of the specialty retailer's stock after buying an additional 65,783 shares during the quarter. Geode Capital Management LLC owned 2.42% of Genuine Parts worth $391,604,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in GPC. Millstone Evans Group LLC bought a new stake in Genuine Parts during the 4th quarter worth approximately $25,000. Kestra Investment Management LLC bought a new position in shares of Genuine Parts in the fourth quarter valued at about $28,000. First Command Advisory Services Inc. acquired a new position in Genuine Parts during the 4th quarter worth about $28,000. Compass Planning Associates Inc bought a new stake in Genuine Parts during the 4th quarter worth about $29,000. Finally, Synergy Asset Management LLC acquired a new stake in Genuine Parts in the 4th quarter valued at about $32,000. Institutional investors own 78.83% of the company's stock.
Genuine Parts Stock Down 3.5 %
Shares of GPC traded down $4.02 during midday trading on Thursday, hitting $109.96. The stock had a trading volume of 367,236 shares, compared to its average volume of 1,624,318. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The firm has a market cap of $15.26 billion, a price-to-earnings ratio of 17.01 and a beta of 0.82. The company has a 50 day simple moving average of $120.38 and a two-hundred day simple moving average of $122.57. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $164.45.
Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $5.71 billion. During the same period last year, the business earned $2.26 EPS. On average, analysts anticipate that Genuine Parts will post 7.9 EPS for the current year.
Genuine Parts Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, March 7th. 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 3.75%. Genuine Parts's payout ratio is currently 63.68%.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on GPC. The Goldman Sachs Group restated a "sell" rating and issued a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Evercore ISI upgraded Genuine Parts from an "in-line" rating to an "outperform" rating and lifted their price objective for the stock from $128.00 to $135.00 in a research report on Friday, April 4th. Loop Capital assumed coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 target price on the stock. Truist Financial lifted their price target 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. Finally, Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Genuine Parts has an average rating of "Hold" and a consensus price target of $135.88.
Read Our Latest Research Report on GPC
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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