Drucker Wealth 3.0 LLC decreased its holdings in Genuine Parts (NYSE:GPC - Free Report) by 15.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,142 shares of the specialty retailer's stock after selling 3,615 shares during the quarter. Drucker Wealth 3.0 LLC's holdings in Genuine Parts were worth $2,352,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the business. Norges Bank purchased a new stake in Genuine Parts during the 4th quarter worth approximately $206,645,000. Junto Capital Management LP bought a new stake in shares of Genuine Parts in the fourth quarter worth $94,868,000. Equity Investment Corp bought a new stake in shares of Genuine Parts in the fourth quarter worth $84,128,000. Alyeska Investment Group L.P. raised its holdings in Genuine Parts by 204.7% in the fourth quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer's stock valued at $92,129,000 after acquiring an additional 530,057 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Genuine Parts by 18.9% during the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock valued at $380,898,000 after acquiring an additional 518,851 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on GPC shares. Evercore ISI dropped their target price on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group reissued a "sell" rating and issued a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Wall Street Zen downgraded Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. Truist Financial boosted their price target on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, Argus raised Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $130.86.
Get Our Latest Stock Report on Genuine Parts
Genuine Parts Stock Performance
GPC traded up $1.15 during trading on Tuesday, reaching $127.36. 1,146,070 shares of the company were exchanged, compared to its average volume of 1,282,984. Genuine Parts has a 52 week low of $104.01 and a 52 week high of $149.22. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The firm has a 50 day moving average of $118.35 and a 200 day moving average of $120.09. The stock has a market cap of $17.68 billion, a P/E ratio of 19.69 and a beta of 0.76.
Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, topping the consensus estimate of $1.66 by $0.09. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. On average, sell-side analysts forecast that Genuine Parts will post 7.9 EPS for the current fiscal 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 given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.23%. The ex-dividend date is Friday, June 6th. Genuine Parts's dividend payout ratio (DPR) is 67.65%.
Genuine Parts Profile
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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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