Genuine Parts (NYSE:GPC) Shares Acquired by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC increased its position in shares of Genuine Parts (NYSE:GPC - Free Report) by 512.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,491 shares of the specialty retailer's stock after purchasing an additional 28,862 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Genuine Parts were worth $4,027,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GPC. Hartford Financial Management Inc. increased its holdings 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 raised its stake 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 acquiring an additional 108 shares during the last quarter. Grimes & Company Inc. grew its holdings in shares of Genuine Parts by 3.3% during 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 during the last quarter. Pinnacle Financial Partners Inc increased its position in Genuine Parts by 2.5% in the 4th quarter. Pinnacle Financial Partners Inc now owns 4,630 shares of the specialty retailer's stock valued at $541,000 after acquiring an additional 115 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in Genuine Parts by 1.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,512 shares of the specialty retailer's stock worth $877,000 after purchasing an additional 128 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GPC has been the topic of several recent research reports. StockNews.com lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Northcoast Research cut Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $114.00 target price (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Truist Financial increased their target price on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, Evercore ISI decreased their price objective on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. One equities 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $130.86.

Genuine Parts Trading Up 2.8 %

GPC opened at $120.30 on Friday. 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 has a twelve month low of $104.01 and a twelve month high of $159.77. The stock has a market capitalization of $16.70 billion, a price-to-earnings ratio of 18.59 and a beta of 0.82. The company has a 50-day simple moving average of $118.55 and a 200 day simple moving average of $119.92.

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 (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.09. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. Analysts predict that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders 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 dividend yield of 3.42%. The ex-dividend date is Friday, June 6th. Genuine Parts's payout ratio is 67.65%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.