Genuine Parts (NYSE:GPC) Stock Position Raised by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC boosted its stake in Genuine Parts (NYSE:GPC) by 15.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,699 shares of the specialty retailer’s stock after buying an additional 12,610 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.07% of Genuine Parts worth $11,291,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new stake in Genuine Parts in the 4th quarter worth approximately $28,000. First Command Advisory Services Inc. purchased a new stake in Genuine Parts in the 4th quarter worth approximately $28,000. Compass Planning Associates Inc purchased a new stake in Genuine Parts in the 4th quarter worth approximately $29,000. Synergy Asset Management LLC purchased a new stake in Genuine Parts in the 4th quarter worth approximately $32,000. Finally, OFI Invest Asset Management purchased a new stake in Genuine Parts in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE:GPC opened at $123.98 on Wednesday. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The firm’s fifty day simple moving average is $120.68 and its 200 day simple moving average is $125.03. 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 firm has a market capitalization of $17.21 billion, a PE ratio of 19.16 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period last year, the business posted $2.26 EPS. On average, sell-side analysts anticipate that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.32%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is currently 63.68%.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of research analyst reports. Loop Capital initiated coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. Truist Financial increased 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 lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, Evercore ISI dropped their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $137.63.

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.