Bruce G. Allen Investments LLC Acquires 208 Shares of Genuine Parts (NYSE:GPC)

Bruce G. Allen Investments LLC lifted its holdings in shares of Genuine Parts (NYSE:GPC) by 33.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 826 shares of the specialty retailer’s stock after purchasing an additional 208 shares during the period. Bruce G. Allen Investments LLC’s holdings in Genuine Parts were worth $98,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GPC. Dimensional Fund Advisors LP grew its holdings in Genuine Parts by 12.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer’s stock worth $198,338,000 after acquiring an additional 182,965 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Genuine Parts by 436.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer’s stock worth $3,672,000 after purchasing an additional 25,583 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $21,840,000. Parvin Asset Management LLC acquired a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $1,320,000. Finally, FORA Capital LLC increased its holdings in shares of Genuine Parts by 410.9% in the fourth quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer’s stock valued at $3,075,000 after purchasing an additional 21,178 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Down 0.6%

Shares of Genuine Parts stock opened at $125.36 on Monday. The business has a fifty day simple moving average of $119.68 and a 200 day simple moving average of $120.34. The stock has a market cap of $17.40 billion, a PE ratio of 19.38 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 has a 12 month low of $104.01 and a 12 month high of $149.22.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.09. The firm had revenue of $5.87 billion for 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 predict that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

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 issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts’s dividend payout ratio is currently 67.65%.

Wall Street Analysts Forecast Growth

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