Ameriprise Financial Inc. Acquires 104,343 Shares of Genuine Parts (NYSE:GPC)

Ameriprise Financial Inc. increased its stake in Genuine Parts (NYSE:GPC - Free Report) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,136,214 shares of the specialty retailer's stock after acquiring an additional 104,343 shares during the period. Ameriprise Financial Inc. owned approximately 1.54% of Genuine Parts worth $249,426,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Franklin Resources Inc. raised its position in shares of Genuine Parts by 22.8% in the 3rd quarter. Franklin Resources Inc. now owns 221,936 shares of the specialty retailer's stock worth $30,947,000 after buying an additional 41,262 shares during the period. Principal Financial Group Inc. raised its holdings in Genuine Parts by 3.6% in the third quarter. Principal Financial Group Inc. now owns 183,533 shares of the specialty retailer's stock valued at $25,636,000 after buying an additional 6,358 shares during the period. JPMorgan Chase & Co. grew its stake in Genuine Parts by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock worth $257,124,000 after buying an additional 114,180 shares during the period. Nordea Investment Management AB raised its stake in shares of Genuine Parts by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 10,375 shares of the specialty retailer's stock valued at $1,214,000 after acquiring an additional 629 shares during the period. Finally, Pensionfund Sabic boosted its position in Genuine Parts by 68.5% during the 4th quarter. Pensionfund Sabic now owns 12,300 shares of the specialty retailer's stock worth $1,436,000 after purchasing an additional 5,000 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

GPC traded down $0.23 on Friday, hitting $117.35. The company had a trading volume of 769,734 shares, compared to its average volume of 1,251,053. Genuine Parts has a 1-year low of $104.01 and a 1-year high of $158.65. The stock has a market cap of $16.29 billion, a price-to-earnings ratio of 18.14 and a beta of 0.76. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The company's fifty day moving average price is $117.95 and its 200 day moving average price is $119.40.

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

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.51%. The ex-dividend date is Friday, June 6th. Genuine Parts's dividend payout ratio (DPR) is presently 67.65%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GPC. Northcoast Research downgraded shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. 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 price objective for the company. StockNews.com lowered Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Finally, Evercore ISI reduced their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. One 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 stock. According to MarketBeat, the company presently has an average 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.