Redwood Investment Management LLC Makes New $1.76 Million Investment in Genuine Parts (NYSE:GPC)

Redwood Investment Management LLC bought a new stake in Genuine Parts (NYSE:GPC) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 15,048 shares of the specialty retailer’s stock, valued at approximately $1,757,000.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in Genuine Parts in the fourth quarter valued at about $206,645,000. Junto Capital Management LP purchased a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $94,868,000. Equity Investment Corp acquired a new position in Genuine Parts during the fourth quarter worth $84,128,000. Alyeska Investment Group L.P. raised its position in Genuine Parts by 204.7% in the fourth quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer’s stock worth $92,129,000 after acquiring an additional 530,057 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Genuine Parts by 18.9% in the fourth quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer’s stock valued at $380,898,000 after acquiring an additional 518,851 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of research analyst reports. Evercore ISI decreased their price objective 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. Truist Financial boosted their price target on Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. Loop Capital initiated coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Saturday, April 26th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Genuine Parts currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.86.

Genuine Parts Price Performance

Genuine Parts stock opened at $127.39 on Friday. 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 firm has a market capitalization of $17.68 billion, a P/E ratio of 19.69 and a beta of 0.76. The firm has a fifty day moving average of $117.71 and a 200-day moving average of $119.62. Genuine Parts has a 52-week low of $104.01 and a 52-week high of $155.22.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.09. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.83 billion. As a group, analysts predict that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts’s dividend 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.