2,473 Shares in Genuine Parts (NYSE:GPC) Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Genuine Parts (NYSE:GPC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,473 shares of the specialty retailer's stock, valued at approximately $289,000.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Genuine Parts by 12.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer's stock worth $198,338,000 after buying an additional 182,965 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Genuine Parts by 17.3% during the fourth quarter. First Trust Advisors LP now owns 174,218 shares of the specialty retailer's stock worth $20,342,000 after acquiring an additional 25,726 shares during the period. Ally Financial Inc. purchased a new position in Genuine Parts during the fourth quarter worth about $1,168,000. Canada Pension Plan Investment Board boosted its holdings in Genuine Parts by 436.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer's stock valued at $3,672,000 after purchasing an additional 25,583 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in Genuine Parts by 5.2% during the 4th quarter. NewEdge Advisors LLC now owns 25,060 shares of the specialty retailer's stock worth $2,926,000 after purchasing an additional 1,234 shares during the period. Hedge funds and other institutional investors own 78.83% of the company's stock.

Genuine Parts Price Performance

Shares of GPC stock traded down $0.49 during trading hours on Wednesday, hitting $117.77. The company's stock had a trading volume of 1,265,437 shares, compared to its average volume of 1,247,866. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $159.77. The stock has a market cap of $16.35 billion, a price-to-earnings ratio of 18.20 and a beta of 0.82. The business has a fifty day moving average of $118.71 and a 200-day moving average of $120.37.

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

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders 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 dividend on an annualized basis and a yield of 3.50%. Genuine Parts's dividend payout ratio (DPR) is 67.65%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GPC shares. Northcoast Research downgraded Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. StockNews.com lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday. Loop Capital assumed coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a "buy" rating and a $155.00 price target on the stock. Truist Financial raised their price objective on shares of Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Genuine Parts currently 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.