Anchor Capital Advisors LLC Has $2.40 Million Stake in Genuine Parts (NYSE:GPC)

Anchor Capital Advisors LLC raised its holdings in shares of Genuine Parts (NYSE:GPC) by 10.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,335 shares of the specialty retailer’s stock after purchasing an additional 1,613 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Genuine Parts were worth $2,401,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Invesco Ltd. boosted its position in Genuine Parts by 71.1% in the third quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock valued at $373,949,000 after buying an additional 1,076,361 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Genuine Parts by 17.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,521,786 shares of the specialty retailer’s stock valued at $345,130,000 after purchasing an additional 367,665 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Genuine Parts by 23.7% during the third quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock worth $235,916,000 after purchasing an additional 313,438 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Genuine Parts by 2.0% in the third quarter. Stifel Financial Corp now owns 1,597,765 shares of the specialty retailer’s stock valued at $230,687,000 after buying an additional 31,155 shares during the period. Finally, Northern Trust Corp raised its holdings in Genuine Parts by 4.3% in the 3rd quarter. Northern Trust Corp now owns 1,491,923 shares of the specialty retailer’s stock valued at $215,404,000 after buying an additional 61,764 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analysts Set New Price Targets

GPC has been the subject of several recent research reports. Truist Financial upped their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Jefferies Financial Group lifted their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Evercore ISI reduced their target price on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Finally, Wedbush restated a “neutral” rating and set a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $173.10.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the sale, the director now directly owns 14,397 shares in the company, valued at approximately $2,230,383.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.37% of the company’s stock.

Genuine Parts Stock Down 2.0 %

Shares of NYSE GPC traded down $3.16 during trading on Tuesday, hitting $158.21. 122,435 shares of the company traded hands, compared to its average volume of 1,056,981. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $174.91. The firm has a market capitalization of $22.04 billion, a price-to-earnings ratio of 17.98 and a beta of 0.94. The business’s fifty day moving average is $152.49 and its 200 day moving average is $143.02. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.07. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. Genuine Parts’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.14 EPS. Equities research analysts predict that Genuine Parts will post 9.89 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.53%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

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.