Creative Financial Designs Inc. ADV Boosts Holdings in Genuine Parts (NYSE:GPC)

Creative Financial Designs Inc. ADV raised its holdings in Genuine Parts (NYSE:GPC) by 6.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,101 shares of the specialty retailer’s stock after buying an additional 357 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Genuine Parts were worth $712,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GPC. Equity Investment Corp acquired a new position in shares of Genuine Parts in the 4th quarter valued at about $84,128,000. Raymond James Financial Inc. acquired a new position in shares of Genuine Parts in the 4th quarter valued at about $57,407,000. State Street Corp lifted its stake in shares of Genuine Parts by 5.4% in the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock valued at $1,103,300,000 after purchasing an additional 401,180 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Genuine Parts by 1,038.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock worth $38,803,000 after acquiring an additional 253,400 shares in the last quarter. Finally, Synovus Financial Corp lifted its position in Genuine Parts by 95.4% during the 3rd quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock worth $54,708,000 after acquiring an additional 191,272 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

Shares of GPC opened at $123.98 on Wednesday. The business’s 50 day moving average is $120.68 and its two-hundred day moving average is $125.03. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The firm has a market cap of $17.21 billion, a price-to-earnings ratio of 19.16 and a beta of 0.93. 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) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share 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 business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the previous year, the business earned $2.26 EPS. Analysts forecast that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.32%. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts’s payout ratio is 63.68%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GPC. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Evercore ISI reduced their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Loop Capital began coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Finally, 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. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $137.63.

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.