10,000 Shares in Genuine Parts (NYSE:GPC) Acquired by Wexford Capital LP

Wexford Capital LP acquired a new stake in Genuine Parts (NYSE:GPC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,000 shares of the specialty retailer's stock, valued at approximately $1,168,000.

Other hedge funds also recently added to or reduced their stakes in the company. Strategic Wealth Partners Ltd. increased 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 in the last quarter. Sessa Capital IM L.P. purchased a new position in shares of Genuine Parts during the 4th quarter worth approximately $29,459,000. Snowden Capital Advisors LLC increased its stake in shares of Genuine Parts by 60.5% during the 4th quarter. Snowden Capital Advisors LLC now owns 8,338 shares of the specialty retailer's stock worth $977,000 after purchasing an additional 3,144 shares in the last quarter. Siemens Fonds Invest GmbH increased its stake in shares of Genuine Parts by 166.8% during the 4th quarter. Siemens Fonds Invest GmbH now owns 6,826 shares of the specialty retailer's stock worth $797,000 after purchasing an additional 4,268 shares in the last quarter. Finally, Shell Asset Management Co. increased its stake in shares of Genuine Parts by 108.0% during the 4th quarter. Shell Asset Management Co. now owns 6,312 shares of the specialty retailer's stock worth $737,000 after purchasing an additional 3,277 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GPC. Evercore ISI decreased their target price on shares of 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 shares of Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Wall Street Zen lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. The Goldman Sachs Group reissued a "sell" rating and issued a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Finally, Truist Financial boosted their target price on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Genuine Parts currently has an average rating of "Moderate Buy" and a consensus target price of $130.86.

Genuine Parts Stock Performance

Genuine Parts stock traded down $0.58 during midday trading on Friday, reaching $126.31. 978,633 shares of the stock traded hands, compared to its average volume of 1,280,274. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The firm has a fifty day moving average price of $118.32 and a two-hundred day moving average price of $120.10. The firm has a market cap of $17.53 billion, a price-to-earnings ratio of 19.52 and a beta of 0.76. Genuine Parts has a fifty-two week low of $104.01 and a fifty-two week high of $149.22.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.09. The firm had revenue of $5.87 billion during 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%. On average, equities research analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The company 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 dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts's payout ratio is 67.65%.

Genuine Parts 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.