Equity Investment Corp increased its position in Genuine Parts Company (NYSE:GPC - Free Report) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 731,950 shares of the specialty retailer's stock after buying an additional 11,431 shares during the period. Equity Investment Corp owned about 0.53% of Genuine Parts worth $87,204,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Genuine Parts during the fourth quarter worth approximately $206,645,000. Junto Capital Management LP purchased a new stake in Genuine Parts during the fourth quarter worth approximately $94,868,000. Alyeska Investment Group L.P. grew its stake in Genuine Parts by 204.7% during the fourth quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer's stock worth $92,129,000 after buying an additional 530,057 shares during the period. Invesco Ltd. grew its stake in Genuine Parts by 18.9% during the fourth quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock worth $380,898,000 after buying an additional 518,851 shares during the period. Finally, GAMMA Investing LLC grew its stake in Genuine Parts by 20,194.9% during the first quarter. GAMMA Investing LLC now owns 476,322 shares of the specialty retailer's stock worth $56,749,000 after buying an additional 473,975 shares during the period. Institutional investors and hedge funds own 78.83% of the company's stock.
Genuine Parts Stock Down 1.0%
GPC traded down $1.27 during trading on Friday, hitting $122.26. The company had a trading volume of 231,982 shares, compared to its average volume of 1,294,740. The company has a market cap of $16.97 billion, a PE ratio of 20.08 and a beta of 0.74. The business has a 50-day moving average of $124.14 and a 200-day moving average of $120.56. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.15 and a quick ratio of 0.52. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $149.22.
Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.09. The firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.83 billion. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. As a group, 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 declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th were given a $1.03 dividend. The ex-dividend date was Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.37%. Genuine Parts's payout ratio is currently 67.65%.
Wall Street Analysts Forecast Growth
GPC has been the subject of several research reports. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Wall Street Zen downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Truist Financial upped their target price 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. Evercore ISI decreased 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 note on Wednesday, April 23rd. Finally, The Goldman Sachs Group restated a "sell" rating and issued a $114.00 target price (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $130.86.
Read Our Latest Stock Report 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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