Cullen Capital Management LLC Purchases 5,671 Shares of Genuine Parts Company $GPC

Cullen Capital Management LLC increased its position in shares of Genuine Parts Company (NYSE:GPC) by 0.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,358,998 shares of the specialty retailer’s stock after buying an additional 5,671 shares during the period. Genuine Parts accounts for 2.1% of Cullen Capital Management LLC’s holdings, making the stock its 21st biggest holding. Cullen Capital Management LLC owned about 0.98% of Genuine Parts worth $188,357,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quadcap Wealth Management LLC lifted its stake in shares of Genuine Parts by 1.4% in the 2nd quarter. Quadcap Wealth Management LLC now owns 5,578 shares of the specialty retailer’s stock valued at $677,000 after purchasing an additional 75 shares during the period. Penserra Capital Management LLC increased its holdings in Genuine Parts by 12.2% in the second quarter. Penserra Capital Management LLC now owns 747 shares of the specialty retailer’s stock worth $90,000 after purchasing an additional 81 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its stake in Genuine Parts by 3.3% in the second quarter. Avidian Wealth Enterprises LLC now owns 2,577 shares of the specialty retailer’s stock valued at $313,000 after buying an additional 82 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of Genuine Parts by 25.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 399 shares of the specialty retailer’s stock worth $55,000 after buying an additional 82 shares in the last quarter. Finally, Capital Square LLC boosted its holdings in shares of Genuine Parts by 2.0% during the 2nd quarter. Capital Square LLC now owns 4,442 shares of the specialty retailer’s stock worth $553,000 after buying an additional 85 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Trading Up 3.6%

NYSE:GPC opened at $147.94 on Thursday. Genuine Parts Company has a one year low of $104.01 and a one year high of $148.30. The company has a market cap of $20.58 billion, a PE ratio of 25.46 and a beta of 0.74. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. The firm has a 50-day moving average of $130.95 and a 200-day moving average of $132.78.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Friday, December 5th were issued a dividend of $1.03 per share. The ex-dividend date was Friday, December 5th. This represents a $4.12 annualized dividend and a yield of 2.8%. Genuine Parts’s dividend payout ratio is 70.91%.

Analyst Ratings Changes

Several analysts have recently weighed in on GPC shares. UBS Group lifted their price objective on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Truist Financial lifted their price target on shares of Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. JPMorgan Chase & Co. increased their price objective on shares of Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research report on Monday, December 29th. Finally, The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and upped their price target for the stock from $130.00 to $142.00 in a research note on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.00.

Genuine Parts Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.