Tocqueville Asset Management L.P. Has $8.75 Million Holdings in Genuine Parts Company (NYSE:GPC)

Key Points

• Tocqueville Asset Management L.P. significantly increased its holdings in Genuine Parts Company by 2,163.3%, now owning 73,445 shares valued at approximately $8.75 million.
• Genuine Parts announced a quarterly dividend of $1.03 per share, representing an annualized yield of 3.0%, with a payout ratio of 70.91%.
• The company reported earnings of $2.10 per share for its latest quarter, exceeding analysts' estimates and marking a 3.4% year-over-year revenue increase to $6.16 billion.

Tocqueville Asset Management L.P. raised its position in Genuine Parts Company (NYSE:GPC - Free Report) by 2,163.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 73,445 shares of the specialty retailer's stock after acquiring an additional 70,200 shares during the period. Tocqueville Asset Management L.P. owned approximately 0.05% of Genuine Parts worth $8,750,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in Genuine Parts by 6.0% in the first quarter. American Century Companies Inc. now owns 59,252 shares of the specialty retailer's stock valued at $7,059,000 after acquiring an additional 3,357 shares during the period. Dimensional Fund Advisors LP grew its stake in Genuine Parts by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,777,990 shares of the specialty retailer's stock valued at $211,816,000 after acquiring an additional 79,253 shares during the period. Horizon Investments LLC grew its stake in Genuine Parts by 4.8% in the first quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer's stock valued at $238,000 after acquiring an additional 91 shares during the period. Sei Investments Co. grew its stake in Genuine Parts by 15.7% in the first quarter. Sei Investments Co. now owns 125,724 shares of the specialty retailer's stock valued at $14,823,000 after acquiring an additional 17,025 shares during the period. Finally, Kovitz Investment Group Partners LLC grew its stake in Genuine Parts by 19.2% in the first quarter. Kovitz Investment Group Partners LLC now owns 33,710 shares of the specialty retailer's stock valued at $4,016,000 after acquiring an additional 5,418 shares during the period. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Stock Up 0.0%

GPC stock opened at $137.79 on Friday. The stock's fifty day simple moving average is $126.96 and its two-hundred day simple moving average is $122.78. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $144.49. The stock has a market cap of $19.17 billion, a P/E ratio of 23.72 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data 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 return on equity of 22.41% and a net margin of 3.40%. The business had revenue of $6.16 billion for the quarter, compared to analysts' expectations of $6.10 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The business's revenue was up 3.4% on a year-over-year basis. Analysts expect that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be given a $1.03 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.12 annualized dividend and a yield of 3.0%. Genuine Parts's payout ratio is currently 70.91%.

Analysts Set New Price Targets

GPC has been the subject of a number of research reports. Wall Street Zen cut Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. JPMorgan Chase & Co. raised their price objective on Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Truist Financial lifted their target price on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. UBS Group lifted their target price on Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Evercore ISI cut 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $135.29.

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.

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