Asset Management One Co. Ltd. Has $7.30 Million Holdings in Genuine Parts Company (NYSE:GPC)

Asset Management One Co. Ltd. raised its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 6.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,297 shares of the specialty retailer's stock after purchasing an additional 3,567 shares during the period. Asset Management One Co. Ltd.'s holdings in Genuine Parts were worth $7,303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in GPC. Millstone Evans Group LLC acquired a new position in Genuine Parts during the 4th quarter valued at about $25,000. First Command Advisory Services Inc. acquired a new position in Genuine Parts during the 4th quarter valued at about $28,000. Aster Capital Management DIFC Ltd acquired a new position in Genuine Parts during the 4th quarter valued at about $33,000. OFI Invest Asset Management acquired a new position in Genuine Parts during the 4th quarter valued at about $34,000. Finally, Investors Research Corp lifted its position in Genuine Parts by 75.3% during the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 125 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

Shares of GPC opened at $120.47 on Friday. 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 twelve month low of $104.01 and a twelve month high of $149.22. The firm's 50 day moving average price is $121.89 and its two-hundred day moving average price is $119.86. The firm has a market cap of $16.72 billion, a P/E ratio of 19.78 and a beta of 0.76.

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

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be issued a $1.03 dividend. The ex-dividend date is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.42%. Genuine Parts's dividend payout ratio (DPR) is presently 67.65%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group reiterated a "sell" rating and issued a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Truist Financial increased their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Wall Street Zen downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Finally, Evercore ISI cut their price target 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 analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock 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.

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