252,308 Shares in Genuine Parts (NYSE:GPC) Acquired by Sessa Capital IM L.P.

Sessa Capital IM L.P. 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 disclosure with the Securities & Exchange Commission. The firm purchased 252,308 shares of the specialty retailer's stock, valued at approximately $29,459,000. Genuine Parts comprises about 1.1% of Sessa Capital IM L.P.'s portfolio, making the stock its 16th largest position. Sessa Capital IM L.P. owned about 0.18% of Genuine Parts as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of GPC. Norges Bank bought a new position in shares of Genuine Parts during the fourth quarter valued at $206,645,000. Junto Capital Management LP bought a new position in shares of Genuine Parts during the fourth quarter valued at $94,868,000. Equity Investment Corp bought a new position in shares of Genuine Parts during the fourth quarter valued at $84,128,000. Alyeska Investment Group L.P. boosted its stake in shares of Genuine Parts by 204.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer's stock valued at $92,129,000 after purchasing an additional 530,057 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Genuine Parts by 18.9% in the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock valued at $380,898,000 after purchasing an additional 518,851 shares during the last quarter. Institutional investors own 78.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GPC shares. 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. StockNews.com lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Truist Financial lifted their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Evercore ISI decreased their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Finally, Argus raised Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Genuine Parts presently has a consensus rating of "Moderate Buy" and an average price target of $130.86.

Genuine Parts Stock Down 0.8%

Shares of GPC stock traded down $1.00 during trading hours on Tuesday, reaching $128.09. The company had a trading volume of 1,062,009 shares, compared to its average volume of 1,277,368. The company has a market cap of $17.78 billion, a price-to-earnings ratio of 19.80 and a beta of 0.76. 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 has a 12 month low of $104.01 and a 12 month high of $152.12. The business has a fifty day simple moving average of $117.96 and a 200-day simple moving average of $119.87.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its 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 analysts' expectations of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. On average, research analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.22%. Genuine Parts's dividend payout ratio is currently 67.65%.

Genuine Parts 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.