Prudential Financial Inc. Has $8.70 Million Position in Genuine Parts (NYSE:GPC)

Prudential Financial Inc. lessened its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 24.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 74,473 shares of the specialty retailer's stock after selling 24,202 shares during the quarter. Prudential Financial Inc. owned 0.05% of Genuine Parts worth $8,695,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. BNP Paribas Financial Markets raised its stake in shares of Genuine Parts by 72.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 215,644 shares of the specialty retailer's stock valued at $30,121,000 after acquiring an additional 90,731 shares during the period. Townsquare Capital LLC raised its position in Genuine Parts by 0.4% in the third quarter. Townsquare Capital LLC now owns 27,881 shares of the specialty retailer's stock valued at $3,894,000 after purchasing an additional 115 shares during the period. CreativeOne Wealth LLC acquired a new position in shares of Genuine Parts during the third quarter worth about $620,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Genuine Parts by 13.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,886 shares of the specialty retailer's stock worth $4,314,000 after buying an additional 3,601 shares during the period. Finally, Fiduciary Trust Co grew its stake in shares of Genuine Parts by 40.9% in the third quarter. Fiduciary Trust Co now owns 2,406 shares of the specialty retailer's stock valued at $336,000 after buying an additional 698 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

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Genuine Parts Stock Up 1.2 %

Shares of GPC traded up $1.44 during trading hours on Wednesday, reaching $119.89. The company's stock had a trading volume of 514,579 shares, compared to its average volume of 1,213,642. The company has a 50 day moving average of $121.11 and a two-hundred day moving average of $123.75. 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 firm has a market cap of $16.64 billion, a price-to-earnings ratio of 18.53 and a beta of 0.93. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $5.71 billion. During the same quarter last year, the firm earned $2.26 earnings per share. As a group, research analysts predict that Genuine Parts will post 7.9 EPS 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. Shareholders of record on Friday, March 7th will be given a $1.03 dividend. The ex-dividend date is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.44%. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's payout ratio is currently 63.68%.

Wall Street Analyst Weigh In

GPC has been the topic of several recent research reports. Truist Financial boosted their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. 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. Loop Capital started coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a "buy" rating and a $155.00 price target on the stock. Evercore ISI upped 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 report on Tuesday. Finally, Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Genuine Parts has an average rating of "Hold" and an average price target of $135.00.

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.