Genuine Parts Company (NYSE:GPC) Shares Acquired by Invesco LLC

Invesco LLC boosted its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,454 shares of the specialty retailer's stock after purchasing an additional 2,265 shares during the period. Invesco LLC's holdings in Genuine Parts were worth $2,199,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GPC. Geode Capital Management LLC increased its position in shares of Genuine Parts by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer's stock valued at $391,604,000 after acquiring an additional 65,783 shares during the period. Invesco Ltd. boosted its stake in shares of Genuine Parts by 18.9% in 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 last quarter. Charles Schwab Investment Management Inc. grew its holdings in Genuine Parts by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock worth $337,428,000 after acquiring an additional 145,960 shares during the period. Stifel Financial Corp lifted its holdings in Genuine Parts by 21.6% in the fourth quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock valued at $292,233,000 after acquiring an additional 445,259 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Genuine Parts by 5.1% in the 4th quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer's stock worth $249,426,000 after purchasing an additional 104,343 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Price Performance

Shares of NYSE:GPC traded down $2.06 during trading on Wednesday, reaching $119.14. The stock had a trading volume of 681,118 shares, compared to its average volume of 1,297,604. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.52 and a current ratio of 1.15. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $149.22. The stock has a market cap of $16.54 billion, a PE ratio of 19.56 and a beta of 0.76. The business has a fifty day moving average price of $121.52 and a 200-day moving average price of $119.95.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.09. The company 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%. On average, equities analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Friday, June 6th. Genuine Parts's dividend payout ratio (DPR) is 67.65%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Wall Street Zen cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. The Goldman Sachs Group reiterated a "sell" rating and issued a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Evercore ISI dropped their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Argus upgraded Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Truist Financial increased their price target 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 equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Genuine Parts has a consensus rating of "Moderate Buy" and a consensus target price of $130.86.

About Genuine Parts

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.