Wellington Management Group LLP Increases Stock Holdings in Genuine Parts (NYSE:GPC)

Wellington Management Group LLP lifted its position in Genuine Parts (NYSE:GPC - Free Report) by 30.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,717 shares of the specialty retailer's stock after buying an additional 6,916 shares during the quarter. Wellington Management Group LLP's holdings in Genuine Parts were worth $3,470,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new position in Genuine Parts during the 4th quarter worth $25,000. Kestra Investment Management LLC purchased a new position in shares of Genuine Parts in the 4th quarter valued at about $28,000. First Command Advisory Services Inc. acquired a new position in shares of Genuine Parts during the fourth quarter worth about $28,000. Compass Planning Associates Inc purchased a new stake in shares of Genuine Parts during the fourth quarter worth approximately $29,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Genuine Parts in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GPC shares. Wall Street Zen downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. The Goldman Sachs Group reissued a "sell" rating and issued a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Argus raised Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Evercore ISI lowered their price objective 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. Finally, Truist Financial raised their target price on Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have issued 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, the stock has an average rating of "Moderate Buy" and an average price target of $130.86.

Genuine Parts Stock Performance

Shares of Genuine Parts stock traded down $0.80 on Friday, hitting $125.36. The stock had a trading volume of 664,087 shares, compared to its average volume of 1,287,920. The stock has a market cap of $17.40 billion, a price-to-earnings ratio of 19.38 and a beta of 0.76. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 52-week low of $104.01 and a 52-week high of $149.22. The company's 50 day moving average price is $119.55 and its 200 day moving average price is $120.33.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. On average, research analysts anticipate that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.29%. The ex-dividend date is Friday, June 6th. Genuine Parts's payout ratio is currently 67.65%.

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.