Genuine Parts (NYSE:GPC) Shares Bought by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. grew its stake in Genuine Parts (NYSE:GPC - Free Report) by 204.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 789,050 shares of the specialty retailer's stock after purchasing an additional 530,057 shares during the period. Alyeska Investment Group L.P. owned approximately 0.57% of Genuine Parts worth $92,129,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Arrowroot Family Office LLC acquired a new position in Genuine Parts in the 4th quarter valued at $210,000. AXA S.A. boosted its holdings in shares of Genuine Parts by 19.6% in the fourth quarter. AXA S.A. now owns 40,031 shares of the specialty retailer's stock valued at $4,674,000 after acquiring an additional 6,565 shares in the last quarter. Gallagher Fiduciary Advisors LLC increased its stake in shares of Genuine Parts by 4.7% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 2,647 shares of the specialty retailer's stock worth $309,000 after acquiring an additional 118 shares during the period. Wahed Invest LLC raised its holdings in Genuine Parts by 5.8% during the fourth quarter. Wahed Invest LLC now owns 3,572 shares of the specialty retailer's stock worth $417,000 after purchasing an additional 196 shares in the last quarter. Finally, South Plains Financial Inc. acquired a new stake in Genuine Parts in the fourth quarter valued at about $96,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on GPC shares. Northcoast Research cut Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. StockNews.com cut Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. 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. The Goldman Sachs Group reiterated a "sell" rating and issued a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Finally, Evercore ISI decreased their price objective on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. One 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. According to data from MarketBeat.com, Genuine Parts currently has a consensus rating of "Moderate Buy" and a consensus price target of $130.86.

Genuine Parts Price Performance

Shares of NYSE GPC traded down $1.61 on Monday, hitting $118.68. The company's stock had a trading volume of 968,710 shares, compared to its average volume of 1,250,613. The stock has a 50 day moving average of $118.48 and a 200-day moving average of $119.58. The company has a market capitalization of $16.47 billion, a price-to-earnings ratio of 18.34 and a beta of 0.82. Genuine Parts has a 12-month low of $104.01 and a 12-month high of $159.77. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57.

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 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%. As a group, research analysts predict that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Friday, June 6th. Genuine Parts's dividend payout ratio is presently 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.