Occudo Quantitative Strategies LP boosted its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 118.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,246 shares of the specialty retailer's stock after purchasing an additional 16,933 shares during the period. Occudo Quantitative Strategies LP's holdings in Genuine Parts were worth $4,328,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. grew its position in Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 96 shares in the last quarter. Orion Capital Management LLC bought a new stake in Genuine Parts in the third quarter worth approximately $42,000. Costello Asset Management INC increased its stake in shares of Genuine Parts by 200.0% during the 4th quarter. Costello Asset Management INC now owns 300 shares of the specialty retailer's stock worth $42,000 after purchasing an additional 200 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in shares of Genuine Parts during the 4th quarter valued at $46,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of Genuine Parts in the 4th quarter valued at $47,000. 78.83% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have commented on GPC. Jefferies Financial Group increased their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a "hold" rating in a research report on Friday, April 19th. Evercore ISI reduced their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an "in-line" rating for the company in a research note on Tuesday, April 16th. StockNews.com upgraded Genuine Parts from a "hold" rating to a "buy" rating in a research note on Friday, May 24th. Wedbush restated a "neutral" rating and set a $170.00 price target (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Finally, Truist Financial boosted their price target on Genuine Parts from $167.00 to $183.00 and gave the company a "buy" rating in a research note on Friday, April 19th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $171.33.
View Our Latest Stock Report on Genuine Parts
Insider Transactions at Genuine Parts
In other news, Director Wendy B. Needham sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the transaction, the director now directly owns 13,006 shares of the company's stock, valued at approximately $1,967,677.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Wendy B. Needham sold 3,250 shares of the business's stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares in the company, valued at approximately $2,230,383.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wendy B. Needham sold 3,000 shares of the company's stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the sale, the director now owns 13,006 shares of the company's stock, valued at approximately $1,967,677.74. The disclosure for this sale can be found here. 0.37% of the stock is owned by company insiders.
Genuine Parts Price Performance
NYSE GPC traded down $4.21 during trading on Friday, reaching $136.70. 1,159,285 shares of the company traded hands, compared to its average volume of 753,922. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The stock's 50 day moving average price is $150.56 and its two-hundred day moving average price is $146.10. The company has a market cap of $19.04 billion, a price-to-earnings ratio of 15.24 and a beta of 0.92. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $170.57.
Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.07. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company's quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the business earned $2.14 earnings per share. As a group, analysts anticipate that Genuine Parts will post 9.92 EPS for the current year.
Genuine Parts Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Friday, June 7th. Genuine Parts's payout ratio is currently 44.59%.
About Genuine Parts
(Free Report)
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.
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