Korea Investment CORP Grows Stake in Genuine Parts (NYSE:GPC)

Korea Investment CORP increased its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 38.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,483 shares of the specialty retailer's stock after buying an additional 21,600 shares during the quarter. Korea Investment CORP owned about 0.06% of Genuine Parts worth $9,047,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GPC. TrueMark Investments LLC increased its holdings in Genuine Parts by 9.1% in the 4th quarter. TrueMark Investments LLC now owns 21,752 shares of the specialty retailer's stock worth $2,540,000 after purchasing an additional 1,817 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Genuine Parts by 20.9% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 64,215 shares of the specialty retailer's stock valued at $7,498,000 after purchasing an additional 11,100 shares during the period. ICW Investment Advisors LLC lifted its position in shares of Genuine Parts by 1.7% during the 4th quarter. ICW Investment Advisors LLC now owns 8,839 shares of the specialty retailer's stock valued at $1,032,000 after acquiring an additional 149 shares during the period. LPL Financial LLC increased its stake in Genuine Parts by 17.3% in the fourth quarter. LPL Financial LLC now owns 196,887 shares of the specialty retailer's stock valued at $22,988,000 after purchasing an additional 29,042 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $5,575,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Evercore ISI increased their price objective on shares of Genuine Parts from $125.00 to $128.00 and gave the company an "in-line" rating in a research note on Tuesday. The Goldman Sachs Group restated a "sell" rating and issued a $114.00 target price (down from $133.00) on shares of Genuine Parts in a research note on Tuesday. Northcoast Research cut Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Truist Financial increased their price objective on Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Finally, Loop Capital initiated coverage on shares of Genuine Parts in a report on Thursday, January 16th. They set a "buy" rating and a $155.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $135.00.

Genuine Parts Trading Up 1.5 %

GPC traded up $1.72 on Wednesday, reaching $120.17. 1,078,396 shares of the company traded hands, compared to its average volume of 1,217,214. The company has a market cap of $16.68 billion, a P/E ratio of 18.57 and a beta of 0.93. The firm has a fifty day simple moving average of $121.16 and a two-hundred day simple moving average of $123.72. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. 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 posted its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.07. The company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter in the prior year, the business earned $2.26 earnings per share. As a group, equities research analysts expect that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a dividend of $1.03 per share. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.43%. The ex-dividend date is Friday, March 7th. Genuine Parts's dividend payout ratio (DPR) is currently 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.