Junto Capital Management LP Acquires Shares of 812,504 Genuine Parts (NYSE:GPC)

Junto Capital Management LP bought a new position in Genuine Parts (NYSE:GPC) during the 4th quarter, HoldingsChannel reports. The fund bought 812,504 shares of the specialty retailer’s stock, valued at approximately $94,868,000. Genuine Parts makes up approximately 1.8% of Junto Capital Management LP’s portfolio, making the stock its 17th largest holding.

Other institutional investors have also recently made changes to their positions in the company. Caprock Group LLC purchased a new stake in Genuine Parts during the 4th quarter valued at $540,000. Dimensional Fund Advisors LP raised its position in Genuine Parts by 12.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer’s stock worth $198,338,000 after buying an additional 182,965 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Genuine Parts by 436.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer’s stock worth $3,672,000 after buying an additional 25,583 shares during the last quarter. Verity & Verity LLC lifted its stake in Genuine Parts by 9.7% during the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock valued at $12,198,000 after acquiring an additional 9,199 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in shares of Genuine Parts in the fourth quarter worth approximately $21,840,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $117.35 on Friday. The stock has a market cap of $16.29 billion, a PE ratio of 18.14 and a beta of 0.76. Genuine Parts has a 1 year low of $104.01 and a 1 year high of $158.65. The firm has a fifty day moving average price of $117.95 and a 200-day moving average price of $119.42. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, beating 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 business had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.83 billion. Equities analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Friday, June 6th. Genuine Parts’s payout ratio is currently 67.65%.

Wall Street Analyst Weigh In

GPC has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Argus upgraded Genuine Parts to a “strong-buy” rating in a research report on Friday, April 25th. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Truist Financial boosted their price target on Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Finally, StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, Genuine Parts has an average rating of “Moderate Buy” and an average target price of $130.86.

About Genuine Parts

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.