Genuine Parts (NYSE:GPC) Holdings Boosted by ProShare Advisors LLC

ProShare Advisors LLC lifted its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 26.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,679,256 shares of the specialty retailer's stock after purchasing an additional 351,863 shares during the period. ProShare Advisors LLC owned about 1.21% of Genuine Parts worth $196,070,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GPC. Millstone Evans Group LLC purchased a new stake in Genuine Parts in the 4th quarter worth approximately $25,000. Kestra Investment Management LLC purchased a new stake in Genuine Parts in the 4th quarter worth approximately $28,000. First Command Advisory Services Inc. purchased a new stake in Genuine Parts in the 4th quarter worth approximately $28,000. Compass Planning Associates Inc purchased a new stake in Genuine Parts in the 4th quarter worth approximately $29,000. Finally, Synergy Asset Management LLC purchased a new stake in Genuine Parts in the 4th quarter worth approximately $32,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Truist Financial lifted their target price on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Evercore ISI decreased their price target 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. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. 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, StockNews.com lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a 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 issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Genuine Parts presently has a consensus rating of "Moderate Buy" and an average price target of $130.86.

Genuine Parts Stock Up 0.9%

GPC stock traded up $1.19 during trading on Friday, reaching $128.67. The stock had a trading volume of 2,063,023 shares, compared to its average volume of 1,275,942. Genuine Parts has a 1-year low of $104.01 and a 1-year high of $153.44. 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 $17.86 billion, a P/E ratio of 19.89 and a beta of 0.76. The firm has a fifty day moving average price of $117.81 and a 200 day moving average price of $119.72.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, topping 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 firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. On average, equities analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Friday, June 6th. Genuine Parts's payout ratio is currently 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.