Genuine Parts (NYSE:GPC) Shares Bought by Voloridge Investment Management LLC

Voloridge Investment Management LLC boosted its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 4,373.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,845 shares of the specialty retailer's stock after purchasing an additional 124,987 shares during the quarter. Voloridge Investment Management LLC owned about 0.09% of Genuine Parts worth $14,927,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Strategic Wealth Partners Ltd. boosted its stake in shares of Genuine Parts by 4.2% during the 4th quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock worth $302,000 after purchasing an additional 98 shares during the period. Hartford Financial Management Inc. boosted its position in Genuine Parts by 0.5% in the 4th quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer's stock valued at $2,185,000 after buying an additional 99 shares during the period. New York Life Investment Management LLC boosted its holdings in shares of Genuine Parts by 0.6% in the fourth quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer's stock valued at $2,188,000 after purchasing an additional 108 shares during the period. Grimes & Company Inc. grew its stake in Genuine Parts by 3.3% in the fourth quarter. Grimes & Company Inc. now owns 3,494 shares of the specialty retailer's stock worth $408,000 after purchasing an additional 111 shares in the last quarter. Finally, Pinnacle Financial Partners Inc grew its position in shares of Genuine Parts by 2.5% during the 4th quarter. Pinnacle Financial Partners Inc now owns 4,630 shares of the specialty retailer's stock worth $541,000 after buying an additional 115 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Truist Financial upped 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. Wall Street Zen downgraded Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Evercore ISI lowered their price target on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group restated a "sell" rating and set a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Finally, Argus raised shares of Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $130.86.

Genuine Parts Stock Performance

Shares of Genuine Parts stock traded up $1.15 on Tuesday, reaching $127.36. 1,146,070 shares of the stock were exchanged, compared to its average volume of 1,282,984. The business has a 50 day moving average price of $118.35 and a two-hundred day moving average price of $120.09. The firm has a market capitalization of $17.68 billion, a price-to-earnings ratio of 19.69 and a beta of 0.76. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $149.22. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC - Get Free Report) last issued 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 analyst estimates of $5.83 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. Analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors 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 3.23%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts's dividend payout ratio is presently 67.65%.

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.