Genuine Parts (NYSE:GPC) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 20,194.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 476,322 shares of the specialty retailer's stock after acquiring an additional 473,975 shares during the quarter. GAMMA Investing LLC owned approximately 0.34% of Genuine Parts worth $56,749,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of GPC. Norges Bank purchased a new stake in shares of Genuine Parts during the fourth quarter worth about $206,645,000. Junto Capital Management LP purchased a new stake in shares of Genuine Parts during the fourth quarter worth about $94,868,000. Equity Investment Corp purchased a new stake in shares of Genuine Parts during the fourth quarter worth about $84,128,000. Alyeska Investment Group L.P. grew its holdings in shares of 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 in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of 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 in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Trading Down 1.1%

GPC stock traded down $1.43 during midday trading on Wednesday, reaching $126.32. 691,302 shares of the company's stock traded hands, compared to its average volume of 1,288,549. The company has a market capitalization of $17.53 billion, a P/E ratio of 19.52 and a beta of 0.76. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. Genuine Parts has a fifty-two week low of $104.01 and a fifty-two week high of $149.22. The business has a 50-day moving average price of $119.25 and a two-hundred day moving average price of $120.27.

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. 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 3.85% and a return on equity of 25.28%. Equities research 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. Stockholders of record on Friday, June 6th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.26%. Genuine Parts's payout ratio is currently 67.65%.

Analyst Ratings Changes

GPC has been the subject of a number of recent research reports. The Goldman Sachs Group reiterated a "sell" rating and set a $114.00 price target (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Evercore ISI decreased their target price 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. Wall Street Zen cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Finally, Truist Financial raised their target price on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.