MQS Management LLC bought a new stake in Genuine Parts Company (NYSE:GPC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,923 shares of the specialty retailer's stock, valued at approximately $348,000.
Several other large investors have also recently bought and sold shares of GPC. Norges Bank bought a new position in Genuine Parts in the fourth quarter valued at about $206,645,000. Junto Capital Management LP acquired a new stake in shares of Genuine Parts in the fourth quarter valued at about $94,868,000. Alyeska Investment Group L.P. increased its stake in shares of 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 buying an additional 530,057 shares during the period. Invesco Ltd. increased 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 valued at $380,898,000 after buying an additional 518,851 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Genuine Parts by 20,194.9% in the first quarter. GAMMA Investing LLC now owns 476,322 shares of the specialty retailer's stock valued at $56,749,000 after buying an additional 473,975 shares during the period. 78.83% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group reissued a "sell" rating and issued a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Truist Financial increased their price target on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Argus raised Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Wall Street Zen cut Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Finally, Evercore ISI decreased their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $130.86.
View Our Latest Stock Analysis on Genuine Parts
Genuine Parts Stock Down 1.2%
Genuine Parts stock traded down $1.45 during mid-day trading on Friday, reaching $122.08. The stock had a trading volume of 678,980 shares, compared to its average volume of 1,417,637. 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 fifty-two week low of $104.01 and a fifty-two week high of $149.22. The stock's 50-day simple moving average is $124.14 and its 200-day simple moving average is $120.56. The firm has a market capitalization of $16.94 billion, a PE ratio of 20.05 and a beta of 0.74.
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, beating 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 return on equity of 23.71% and a net margin of 3.60%. On average, sell-side analysts forecast that Genuine Parts Company will post 7.9 EPS for the current fiscal year.
Genuine Parts Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Friday, June 6th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.37%. Genuine Parts's payout ratio is 67.65%.
About Genuine Parts
(
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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