Meiji Yasuda Asset Management Co Ltd. Purchases 11,100 Shares of Genuine Parts (NYSE:GPC)

Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 20.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 64,215 shares of the specialty retailer's stock after buying an additional 11,100 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Genuine Parts were worth $7,498,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Raymond James Trust N.A. increased its stake in Genuine Parts by 7.1% in the third quarter. Raymond James Trust N.A. now owns 8,138 shares of the specialty retailer's stock valued at $1,137,000 after purchasing an additional 543 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Genuine Parts by 0.7% in the 3rd quarter. Cerity Partners LLC now owns 197,953 shares of the specialty retailer's stock valued at $27,650,000 after buying an additional 1,316 shares during the period. Kingsview Wealth Management LLC increased its position in Genuine Parts by 18.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 3,658 shares of the specialty retailer's stock valued at $511,000 after buying an additional 565 shares in the last quarter. Larson Financial Group LLC raised its stake in Genuine Parts by 66.8% during the 3rd quarter. Larson Financial Group LLC now owns 2,812 shares of the specialty retailer's stock worth $393,000 after buying an additional 1,126 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in Genuine Parts by 12.9% in the third quarter. Daiwa Securities Group Inc. now owns 20,238 shares of the specialty retailer's stock worth $2,827,000 after acquiring an additional 2,312 shares in the last quarter. Institutional investors own 78.83% of the company's stock.

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Analyst Upgrades and Downgrades

GPC has been the topic of a number of research reports. Truist Financial upped their target price on 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 lowered their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Loop Capital began coverage on shares of Genuine Parts in a report on Thursday, January 16th. They set a "buy" rating and a $155.00 price objective for the company. Finally, Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $137.63.

Genuine Parts Stock Down 1.7 %

Genuine Parts stock traded down $2.07 during midday trading on Friday, hitting $118.49. 1,016,010 shares of the stock were exchanged, compared to its average volume of 1,213,490. 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 stock has a market capitalization of $16.44 billion, a price-to-earnings ratio of 18.31 and a beta of 0.93. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The business's 50-day moving average price is $121.13 and its 200-day moving average price is $124.07.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the company posted $2.26 earnings per share. On average, research 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 will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.48%. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts's payout ratio is presently 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.