Poplar Forest Capital LLC Acquires 95,048 Shares of Genuine Parts Company (NYSE:GPC)

Poplar Forest Capital LLC increased its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 197.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 143,302 shares of the specialty retailer's stock after purchasing an additional 95,048 shares during the quarter. Genuine Parts makes up approximately 3.0% of Poplar Forest Capital LLC's portfolio, making the stock its 14th largest position. Poplar Forest Capital LLC owned about 0.10% of Genuine Parts worth $17,073,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Strategic Wealth Partners Ltd. grew its holdings in Genuine Parts by 4.2% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock valued at $302,000 after buying an additional 98 shares during the last quarter. Keybank National Association OH grew its holdings in Genuine Parts by 0.5% in the 1st quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer's stock valued at $2,486,000 after buying an additional 98 shares during the last quarter. Veracity Capital LLC grew its holdings in Genuine Parts by 4.9% in the 1st quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer's stock valued at $256,000 after buying an additional 100 shares during the last quarter. Gallagher Fiduciary Advisors LLC grew its holdings in Genuine Parts by 4.7% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 2,647 shares of the specialty retailer's stock valued at $309,000 after buying an additional 118 shares during the last quarter. Finally, Investors Research Corp grew its holdings in Genuine Parts by 75.3% in the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock valued at $35,000 after buying an additional 125 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GPC shares. Loop Capital lifted their price objective on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday. UBS Group boosted their target price on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a report on Wednesday. Truist Financial lifted their price objective on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a report on Wednesday. Wall Street Zen cut Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. Finally, Argus raised Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $135.29.

Genuine Parts Stock Performance

Shares of GPC stock traded up $0.36 on Friday, hitting $133.57. 823,068 shares of the stock were exchanged, compared to its average volume of 1,164,651. Genuine Parts Company has a one year low of $104.01 and a one year high of $149.22. The firm's 50 day moving average is $124.96 and its two-hundred day moving average is $121.12. The company has a current ratio of 1.14, a quick ratio of 0.52 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $18.58 billion, a PE ratio of 22.99 and a beta of 0.74.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The firm had revenue of $6.16 billion for the quarter, compared to analysts' expectations of $6.10 billion. During the same quarter in the prior year, the firm posted $2.44 earnings per share. The business's quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Friday, June 6th. Genuine Parts's dividend payout ratio (DPR) is presently 70.91%.

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.