Sterling Capital Management LLC Purchases 2,941 Shares of Genuine Parts (NYSE:GPC)

Sterling Capital Management LLC raised its position in Genuine Parts (NYSE:GPC - Free Report) by 47.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,199 shares of the specialty retailer's stock after acquiring an additional 2,941 shares during the period. Sterling Capital Management LLC's holdings in Genuine Parts were worth $1,074,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GPC. Millstone Evans Group LLC bought a new position in shares of Genuine Parts during the 4th quarter worth about $25,000. Kestra Investment Management LLC acquired a new stake in Genuine Parts during the fourth quarter valued at approximately $28,000. First Command Advisory Services Inc. bought a new stake in shares of Genuine Parts in the 4th quarter valued at approximately $28,000. Compass Planning Associates Inc acquired a new position in shares of Genuine Parts in the 4th quarter worth approximately $29,000. Finally, Synergy Asset Management LLC bought a new position in shares of Genuine Parts during the 4th quarter worth approximately $32,000. 78.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on GPC shares. Northcoast Research cut shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Loop Capital assumed coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective on the stock. Truist Financial boosted 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 upgraded Genuine Parts from an "in-line" rating to an "outperform" rating and raised their price target for the company from $128.00 to $135.00 in a report on Friday, April 4th. Finally, The Goldman Sachs Group reaffirmed a "sell" rating and set a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $135.88.

Genuine Parts Stock Up 1.6 %

GPC traded up $1.85 during trading on Friday, reaching $114.02. The company had a trading volume of 1,632,737 shares, compared to its average volume of 1,244,474. The company has a market cap of $15.82 billion, a P/E ratio of 17.62 and a beta of 0.82. Genuine Parts has a 12 month low of $104.01 and a 12 month high of $163.86. 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 business's fifty day moving average price is $119.81 and its 200 day moving average price is $121.44.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to analysts' expectations of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same period in the previous year, the firm posted $2.26 EPS. Equities analysts anticipate that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th were paid a $1.03 dividend. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Friday, March 7th. This represents a $4.12 annualized dividend and a yield of 3.61%. Genuine Parts's payout ratio is presently 63.68%.

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.