Wexford Capital LP Makes New Investment in Genuine Parts (NYSE:GPC)

Wexford Capital LP acquired a new stake in shares of Genuine Parts (NYSE:GPC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 10,000 shares of the specialty retailer's stock, valued at approximately $1,168,000.

Several other large investors also recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in Genuine Parts by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer's stock valued at $391,604,000 after acquiring an additional 65,783 shares in the last quarter. Invesco Ltd. grew its stake in Genuine Parts by 18.9% during the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock valued at $380,898,000 after acquiring an additional 518,851 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Genuine Parts by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock valued at $337,428,000 after acquiring an additional 145,960 shares in the last quarter. Stifel Financial Corp grew its stake in Genuine Parts by 21.6% during the 4th quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock valued at $292,233,000 after acquiring an additional 445,259 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Genuine Parts by 5.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer's stock valued at $249,426,000 after acquiring an additional 104,343 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

Genuine Parts Stock Up 1.5%

NYSE:GPC traded up $1.82 during mid-day trading on Thursday, hitting $126.91. The stock had a trading volume of 924,434 shares, compared to its average volume of 1,279,284. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $149.22. The stock has a 50-day simple moving average of $118.20 and a two-hundred day simple moving average of $119.96. 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 company has a market capitalization of $17.61 billion, a PE ratio of 19.62 and a beta of 0.76.

Genuine Parts (NYSE:GPC - Get Free Report) last posted 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 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 25.28% and a net margin of 3.85%. On average, equities research analysts anticipate that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.25%. Genuine Parts's payout ratio is currently 67.65%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GPC shares. Truist Financial raised their price objective 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. 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 report on Tuesday, April 1st. Evercore ISI reduced their price target 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 raised Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Wall Street Zen cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $130.86.

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.