Shell Asset Management Co. Grows Stake in Genuine Parts (NYSE:GPC)

Shell Asset Management Co. increased its stake in Genuine Parts (NYSE:GPC) by 108.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,312 shares of the specialty retailer’s stock after acquiring an additional 3,277 shares during the period. Shell Asset Management Co.’s holdings in Genuine Parts were worth $737,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GPC. Norges Bank bought a new stake in Genuine Parts in the fourth quarter worth about $206,645,000. Junto Capital Management LP bought a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $94,868,000. Equity Investment Corp bought a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $84,128,000. Alyeska Investment Group L.P. raised its stake in shares of Genuine Parts by 204.7% during the fourth quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer’s stock valued at $92,129,000 after acquiring an additional 530,057 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Genuine Parts by 18.9% during 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 in the last quarter. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

GPC has been the subject of several research analyst reports. Evercore ISI decreased their price target on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. 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. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. 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. Finally, Argus raised shares of 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 issued a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.86.

Genuine Parts Stock Performance

Shares of NYSE:GPC opened at $128.67 on Monday. The company has a market capitalization of $17.86 billion, a price-to-earnings ratio of 19.89 and a beta of 0.76. Genuine Parts has a 52 week low of $104.01 and a 52 week high of $153.44. 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 50 day moving average of $117.81 and a 200 day moving average of $119.76.

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

Genuine Parts Dividend Announcement

The firm 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. This represents a $4.12 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Friday, June 6th. Genuine Parts’s dividend payout ratio (DPR) is 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.