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Pzena Investment Management LLC Invests $35.86 Million in Genuine Parts Company (NYSE:GPC)

Genuine Parts logo with Retail/Wholesale background

Pzena Investment Management LLC purchased a new position in Genuine Parts Company (NYSE:GPC - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 300,987 shares of the specialty retailer's stock, valued at approximately $35,860,000. Pzena Investment Management LLC owned approximately 0.22% of Genuine Parts at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GPC. Dimensional Fund Advisors LP raised its holdings in shares of 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 acquiring an additional 182,965 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Genuine Parts by 436.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer's stock worth $3,672,000 after acquiring an additional 25,583 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Genuine Parts during the 4th quarter worth approximately $1,320,000. FORA Capital LLC raised its holdings in shares of Genuine Parts by 410.9% during the 4th quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer's stock worth $3,075,000 after acquiring an additional 21,178 shares in the last quarter. Finally, Bastion Asset Management Inc. purchased a new stake in shares of Genuine Parts during the 4th quarter worth approximately $3,391,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Trading Up 0.8%

Genuine Parts stock traded up $1.01 during mid-day trading on Thursday, hitting $123.56. The company's stock had a trading volume of 945,109 shares, compared to its average volume of 1,298,920. The company has a 50 day moving average of $124.14 and a 200-day moving average of $120.56. The stock has a market cap of $17.15 billion, a PE ratio of 20.29 and a beta of 0.74. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.52 and a current ratio of 1.15. Genuine Parts Company has a one year low of $104.01 and a one year high of $149.22.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, beating the consensus estimate of $1.66 by $0.09. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. On average, research analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Friday, June 6th. Genuine Parts's payout ratio is 67.65%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Truist Financial upped their price objective on Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Argus raised Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. The Goldman Sachs Group restated a "sell" rating and set a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Wall Street Zen lowered Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. Finally, Evercore ISI decreased their price target on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Genuine Parts has an average rating of "Moderate Buy" and an average price target of $130.86.

Check Out Our Latest Stock Analysis on Genuine Parts

Genuine Parts Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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