Gotham Asset Management LLC Raises Holdings in Genuine Parts (NYSE:GPC)

Gotham Asset Management LLC increased its holdings in Genuine Parts (NYSE:GPC) by 54.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 45,319 shares of the specialty retailer’s stock after acquiring an additional 15,944 shares during the period. Gotham Asset Management LLC’s holdings in Genuine Parts were worth $5,291,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in Genuine Parts in the fourth quarter worth approximately $25,000. Kestra Investment Management LLC purchased a new position in Genuine Parts in the fourth quarter worth approximately $28,000. First Command Advisory Services Inc. purchased a new position in Genuine Parts in the fourth quarter worth approximately $28,000. Compass Planning Associates Inc purchased a new position in Genuine Parts in the fourth quarter worth approximately $29,000. Finally, Synergy Asset Management LLC purchased a new position in Genuine Parts in the fourth quarter worth approximately $32,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Trading Down 0.6%

NYSE:GPC opened at $121.29 on Wednesday. The firm has a market cap of $16.83 billion, a PE ratio of 18.75 and a beta of 0.76. The stock has a fifty day moving average price of $117.82 and a 200 day moving average price of $119.53. Genuine Parts has a 12-month low of $104.01 and a 12-month high of $158.65. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.09. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. Sell-side 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 announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be issued 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 3.40%. Genuine Parts’s dividend payout ratio (DPR) is presently 67.65%.

Wall Street Analysts Forecast Growth

GPC has been the subject of several analyst reports. 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. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. Finally, Truist Financial lifted their price objective on Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.