Redwood Investment Management LLC Invests $1.76 Million in Genuine Parts (NYSE:GPC)

Redwood Investment Management LLC acquired a new stake in Genuine Parts (NYSE:GPC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,048 shares of the specialty retailer’s stock, valued at approximately $1,757,000.

Several other hedge funds also recently added to or reduced their stakes in GPC. ProShare Advisors LLC increased its position in shares of Genuine Parts by 26.5% during the 4th quarter. ProShare Advisors LLC now owns 1,679,256 shares of the specialty retailer’s stock worth $196,070,000 after purchasing an additional 351,863 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Genuine Parts by 77.7% during the fourth quarter. Quantinno Capital Management LP now owns 20,101 shares of the specialty retailer’s stock worth $2,347,000 after purchasing an additional 8,790 shares in the last quarter. Mufg Securities Americas Inc. purchased a new position in shares of Genuine Parts during the fourth quarter worth $240,000. Nissay Asset Management Corp Japan ADV grew its stake in shares of Genuine Parts by 1.1% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 18,581 shares of the specialty retailer’s stock valued at $2,173,000 after buying an additional 211 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Genuine Parts by 5.5% in the 4th quarter. Nuveen Asset Management LLC now owns 344,035 shares of the specialty retailer’s stock valued at $40,170,000 after buying an additional 17,822 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GPC has been the subject of several research reports. Loop Capital initiated coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. The Goldman Sachs Group reaffirmed a “sell” rating and set a $114.00 target price (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Saturday, April 26th. Evercore ISI dropped 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. Finally, Argus raised Genuine Parts to a “strong-buy” rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $130.86.

Genuine Parts Trading Up 2.5%

GPC opened at $127.39 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a one year low of $104.01 and a one year high of $155.22. The company has a market cap of $17.68 billion, a P/E ratio of 19.69 and a beta of 0.76. The business’s 50-day simple moving average is $117.71 and its 200-day simple moving average is $119.62.

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

Genuine Parts Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.23%. Genuine Parts’s dividend payout ratio (DPR) is presently 67.65%.

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.