Genuine Parts (NYSE:GPC) Shares Purchased by Oak Asset Management LLC

Oak Asset Management LLC grew its stake in shares of Genuine Parts (NYSE:GPC) by 13.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,377 shares of the specialty retailer’s stock after buying an additional 1,625 shares during the quarter. Oak Asset Management LLC’s holdings in Genuine Parts were worth $1,594,000 as of its most recent filing with the Securities and Exchange Commission.

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

Genuine Parts Trading Down 1.1%

Genuine Parts stock opened at $126.32 on Thursday. Genuine Parts has a 52 week low of $104.01 and a 52 week high of $149.22. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The firm has a market capitalization of $17.53 billion, a price-to-earnings ratio of 19.52 and a beta of 0.76. The company has a 50 day moving average price of $119.41 and a 200 day moving average price of $120.32.

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

Genuine Parts Announces Dividend

The business 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 dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts’s dividend payout ratio is currently 67.65%.

Analysts Set New Price Targets

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

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.