OMERS ADMINISTRATION Corp Purchases 954 Shares of Genuine Parts (NYSE:GPC)

OMERS ADMINISTRATION Corp boosted its position in Genuine Parts (NYSE:GPC) by 19.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,828 shares of the specialty retailer’s stock after buying an additional 954 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Genuine Parts were worth $680,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Genuine Parts by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer’s stock valued at $391,604,000 after buying an additional 65,783 shares in the last quarter. Invesco Ltd. increased its holdings in Genuine Parts by 18.9% during the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer’s stock worth $380,898,000 after purchasing an additional 518,851 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Genuine Parts by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer’s stock worth $337,428,000 after purchasing an additional 145,960 shares in the last quarter. Stifel Financial Corp increased its holdings in Genuine Parts by 21.6% during the 4th quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer’s stock worth $292,233,000 after purchasing an additional 445,259 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Genuine Parts by 5.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer’s stock worth $249,426,000 after purchasing an additional 104,343 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $128.67 on Friday. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $153.44. The stock’s 50 day moving average price is $117.81 and its 200-day moving average price is $119.72. The company has a market capitalization of $17.86 billion, a PE ratio of 19.89 and a beta of 0.76. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

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

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 annualized dividend and a yield of 3.20%. Genuine Parts’s payout ratio is 67.65%.

Analysts Set New Price Targets

A number of analysts have commented on GPC shares. Truist Financial boosted their price objective on Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Evercore ISI decreased their price objective on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Argus raised Genuine Parts to a “strong-buy” rating in a report on Friday, April 25th. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Saturday, April 26th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $130.86.

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.