Genuine Parts (NYSE:GPC) Shares Purchased by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd boosted its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 30.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,578 shares of the specialty retailer's stock after acquiring an additional 4,390 shares during the quarter. UniSuper Management Pty Ltd's holdings in Genuine Parts were worth $2,169,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on GPC. Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective on the stock. Truist Financial lifted their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. The Goldman Sachs Group restated a "sell" rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research report on Tuesday. Evercore ISI lifted their target price 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 downgraded shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Genuine Parts has an average rating of "Hold" and a consensus target price of $135.00.

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Genuine Parts Price Performance

GPC traded up $1.72 during trading on Wednesday, reaching $120.17. The company's stock had a trading volume of 1,078,396 shares, compared to its average volume of 1,215,744. The company has a market cap of $16.68 billion, a price-to-earnings ratio of 18.57 and a beta of 0.93. The firm has a fifty day simple moving average of $121.11 and a two-hundred day simple moving average of $123.75. Genuine Parts has a 1 year low of $112.74 and a 1 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 announced its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.07. The firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $2.26 earnings per share. As a group, 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 will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a yield of 3.43%. Genuine Parts's payout ratio is 63.68%.

About Genuine Parts

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.