Nebula Research & Development LLC Invests $1.71 Million in Genuine Parts (NYSE:GPC)

Nebula Research & Development LLC purchased a new stake in shares of Genuine Parts (NYSE:GPC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 14,628 shares of the specialty retailer's stock, valued at approximately $1,708,000.

Other hedge funds have also modified their holdings of the company. Anchor Investment Management LLC boosted its holdings in shares of Genuine Parts by 59.4% in the 3rd quarter. Anchor Investment Management LLC now owns 1,503 shares of the specialty retailer's stock worth $210,000 after purchasing an additional 560 shares during the period. Pine Valley Investments Ltd Liability Co increased its position in Genuine Parts by 16.4% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 27,075 shares of the specialty retailer's stock valued at $3,792,000 after acquiring an additional 3,813 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of Genuine Parts by 1,229.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 32,476 shares of the specialty retailer's stock worth $4,536,000 after acquiring an additional 30,034 shares during the last quarter. Optimist Retirement Group LLC boosted its stake in shares of Genuine Parts by 26.8% during the 3rd quarter. Optimist Retirement Group LLC now owns 15,802 shares of the specialty retailer's stock worth $2,207,000 after purchasing an additional 3,338 shares during the period. Finally, Synovus Financial Corp grew its holdings in Genuine Parts by 95.4% during the 3rd quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer's stock valued at $54,708,000 after purchasing an additional 191,272 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GPC. Truist Financial boosted their target price on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. The Goldman Sachs Group reiterated a "sell" rating and set a $114.00 target price (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. StockNews.com downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Finally, Argus raised Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $130.86.

Genuine Parts Stock Performance

Shares of Genuine Parts stock traded down $0.39 during midday trading on Thursday, hitting $117.16. The company had a trading volume of 208,425 shares, compared to its average volume of 1,243,824. The stock has a market cap of $16.26 billion, a price-to-earnings ratio of 18.10 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 quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The company has a fifty day simple moving average of $118.71 and a 200 day simple moving average of $120.37.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.09. The company had revenue of $5.87 billion during 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, analysts predict that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm 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 yield of 3.52%. The ex-dividend date is Friday, June 6th. Genuine Parts's dividend payout ratio is presently 67.65%.

About Genuine Parts

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.