Genuine Parts (NYSE:GPC) Shares Purchased by Gotham Asset Management LLC

Gotham Asset Management LLC lifted its holdings in Genuine Parts (NYSE:GPC - Free Report) by 54.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,319 shares of the specialty retailer's stock after buying an additional 15,944 shares during the period. Gotham Asset Management LLC's holdings in Genuine Parts were worth $5,291,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GPC. Millstone Evans Group LLC bought a new position in Genuine Parts during the 4th quarter valued at about $25,000. Kestra Investment Management LLC purchased a new stake in shares of Genuine Parts in the 4th quarter worth approximately $28,000. First Command Advisory Services Inc. purchased a new stake in Genuine Parts during the fourth quarter valued at approximately $28,000. Compass Planning Associates Inc purchased a new stake in Genuine Parts during the fourth quarter valued at approximately $29,000. Finally, Synergy Asset Management LLC purchased a new stake in Genuine Parts during the fourth quarter valued at approximately $32,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Trading Up 0.9%

Shares of GPC traded up $1.19 during trading on Friday, reaching $128.67. 2,063,023 shares of the company traded hands, compared to its average volume of 1,273,165. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $154.84. The stock has a market cap of $17.86 billion, a PE ratio of 19.89 and a beta of 0.76. The stock has a 50-day simple moving average of $117.81 and a 200-day simple moving average of $119.70. 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 announced 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. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.83 billion. On average, analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders 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 dividend yield of 3.20%. The ex-dividend date is Friday, June 6th. Genuine Parts's dividend payout ratio is presently 67.65%.

Analysts Set New Price Targets

GPC has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Argus raised shares of Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Northcoast Research downgraded shares of Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Truist Financial increased their price objective on shares of Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, The Goldman Sachs Group reissued a "sell" rating and issued a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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.