Centiva Capital LP Acquires Shares of 4,112 Genuine Parts (NYSE:GPC)

Centiva Capital LP bought a new stake in Genuine Parts (NYSE:GPC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,112 shares of the specialty retailer's stock, valued at approximately $480,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Genuine Parts by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer's stock worth $391,604,000 after purchasing an additional 65,783 shares in the last quarter. Invesco Ltd. raised its holdings in Genuine Parts by 18.9% during the fourth quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock worth $380,898,000 after purchasing an additional 518,851 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Genuine Parts by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock worth $337,428,000 after purchasing an additional 145,960 shares in the last quarter. Stifel Financial Corp raised its holdings in Genuine Parts by 21.6% during the fourth quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock worth $292,233,000 after purchasing an additional 445,259 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Genuine Parts by 5.1% during the fourth quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer's stock worth $249,426,000 after purchasing an additional 104,343 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

GPC stock traded up $2.66 on Wednesday, reaching $123.86. The company had a trading volume of 3,003,491 shares, compared to its average volume of 1,262,777. Genuine Parts has a 1 year low of $104.01 and a 1 year high of $157.17. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The company's fifty day moving average is $117.82 and its 200 day moving average is $119.53. The company has a market cap of $17.19 billion, a P/E ratio of 19.14 and a beta of 0.76.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.09. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. On average, research analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 annualized dividend and a yield of 3.33%. Genuine Parts's dividend payout ratio is currently 67.65%.

Analyst Ratings Changes

Several brokerages have weighed in on GPC. Loop Capital began coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 target price on the stock. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. The Goldman Sachs Group restated a "sell" rating and set a $114.00 target price (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Finally, Evercore ISI lowered their target price on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $130.86.

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.