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

Bruce G. Allen Investments LLC boosted its holdings in Genuine Parts (NYSE:GPC) by 33.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 826 shares of the specialty retailer’s stock after buying an additional 208 shares during the period. Bruce G. Allen Investments LLC’s holdings in Genuine Parts were worth $98,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Norges Bank bought a new position in Genuine Parts during the fourth quarter worth $206,645,000. Junto Capital Management LP acquired a new stake in Genuine Parts in the 4th quarter worth $94,868,000. Equity Investment Corp acquired a new stake in Genuine Parts in the 4th quarter worth $84,128,000. Alyeska Investment Group L.P. increased its holdings in shares of Genuine Parts by 204.7% during the 4th quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer’s stock worth $92,129,000 after purchasing an additional 530,057 shares during the period. Finally, Invesco Ltd. raised its position 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 buying an additional 518,851 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

GPC has been the topic of a number of recent research reports. Wall Street Zen downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Saturday, April 26th. The Goldman Sachs Group reissued a “sell” rating and set a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Argus upgraded Genuine Parts to a “strong-buy” rating in a research report on Friday, April 25th. Evercore ISI reduced their target price 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. Finally, Truist Financial lifted their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. One 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 stock. According to data from MarketBeat.com, Genuine Parts presently has an average rating of “Moderate Buy” and an average price target of $130.86.

Genuine Parts Price Performance

Genuine Parts stock opened at $125.36 on Monday. The business has a 50 day simple moving average of $119.68 and a 200 day simple moving average of $120.34. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The company has a market capitalization of $17.40 billion, a PE ratio of 19.38 and a beta of 0.76. Genuine Parts has a one year low of $104.01 and a one year high of $149.22.

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

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be given a $1.03 dividend. The ex-dividend date is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.29%. Genuine Parts’s dividend payout ratio (DPR) is presently 67.65%.

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.