Wellington Management Group LLP Purchases 6,916 Shares of Genuine Parts (NYSE:GPC)

Wellington Management Group LLP raised its holdings in Genuine Parts (NYSE:GPC - Free Report) by 30.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,717 shares of the specialty retailer's stock after buying an additional 6,916 shares during the quarter. Wellington Management Group LLP's holdings in Genuine Parts were worth $3,470,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Genuine Parts by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer's stock worth $458,947,000 after purchasing an additional 32,858 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Genuine Parts by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock worth $337,428,000 after acquiring an additional 145,960 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Genuine Parts by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock valued at $257,124,000 after acquiring an additional 114,180 shares during the period. Norges Bank bought a new stake in Genuine Parts during the fourth quarter worth about $206,645,000. Finally, Equity Investment Corp purchased a new stake in Genuine Parts in the fourth quarter worth about $84,128,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GPC shares. Evercore ISI raised Genuine Parts from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $128.00 to $135.00 in a research report on Friday, April 4th. The Goldman Sachs Group reissued 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, April 1st. Truist Financial upped their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Northcoast Research cut shares of Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Finally, Loop Capital began 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $135.88.

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Genuine Parts Stock Performance

NYSE GPC traded down $2.53 on Wednesday, hitting $111.78. 457,123 shares of the company traded hands, compared to its average volume of 1,611,399. The business's 50 day moving average price is $120.16 and its 200-day moving average price is $121.86. Genuine Parts has a 52-week low of $104.01 and a 52-week high of $164.45. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $15.51 billion, a price-to-earnings ratio of 17.28 and a beta of 0.82.

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, topping 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 net margin of 3.85% and a return on equity of 25.28%. During the same period in the prior year, the firm posted $2.26 EPS. Equities analysts expect that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were paid a $1.03 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 3.69%. Genuine Parts's dividend payout ratio is 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.