Citigroup Inc. Boosts Position in Genuine Parts Company (NYSE:GPC)

Citigroup Inc. grew its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 120.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 227,396 shares of the specialty retailer's stock after acquiring an additional 124,067 shares during the quarter. Citigroup Inc. owned about 0.16% of Genuine Parts worth $27,092,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in Genuine Parts by 12.1% in 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. Canada Pension Plan Investment Board lifted its position 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 worth $3,672,000 after buying an additional 25,583 shares during the last quarter. Parvin Asset Management LLC bought a new stake in Genuine Parts in the 4th quarter worth approximately $1,320,000. FORA Capital LLC lifted its position in Genuine Parts by 410.9% in the 4th quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer's stock worth $3,075,000 after buying an additional 21,178 shares during the last quarter. Finally, Bastion Asset Management Inc. bought a new stake in Genuine Parts in the 4th quarter worth approximately $3,391,000. Institutional investors own 78.83% of the company's stock.

Genuine Parts Trading Up 0.0%

Genuine Parts stock traded up $0.02 during trading hours on Friday, reaching $137.79. The company had a trading volume of 1,285,449 shares, compared to its average volume of 1,348,312. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. The company has a 50-day moving average price of $126.96 and a 200 day moving average price of $122.74. The firm has a market cap of $19.17 billion, a price-to-earnings ratio of 23.72 and a beta of 0.75. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $144.49.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%. The firm had revenue of $6.16 billion for the quarter, compared to analysts' expectations of $6.10 billion. During the same period in the previous year, the firm earned $2.44 earnings per share. The business's revenue was up 3.4% compared to the same quarter last year. Equities analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. Genuine Parts's payout ratio is 70.91%.

Analyst Ratings Changes

A number of research firms recently weighed in on GPC. Loop Capital boosted their target price on Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Evercore ISI dropped their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their target price on Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Argus raised Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Finally, UBS Group lifted their price target on Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $135.29.

Genuine Parts 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.