Genuine Parts (NYSE:GPC) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp raised its position in shares of Genuine Parts (NYSE:GPC) by 16.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,967 shares of the specialty retailer’s stock after purchasing an additional 3,069 shares during the quarter. Cibc World Markets Corp’s holdings in Genuine Parts were worth $2,565,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV raised its stake in Genuine Parts by 6.2% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 6,101 shares of the specialty retailer’s stock valued at $712,000 after purchasing an additional 357 shares during the period. SlateStone Wealth LLC raised its stake in Genuine Parts by 3.5% during the 4th quarter. SlateStone Wealth LLC now owns 5,955 shares of the specialty retailer’s stock valued at $695,000 after purchasing an additional 200 shares during the period. Royce & Associates LP raised its stake in Genuine Parts by 16.0% during the 4th quarter. Royce & Associates LP now owns 14,500 shares of the specialty retailer’s stock valued at $1,693,000 after purchasing an additional 2,000 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of Genuine Parts by 1.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,512 shares of the specialty retailer’s stock worth $877,000 after acquiring an additional 128 shares during the last quarter. Finally, First National Trust Co increased its stake in shares of Genuine Parts by 1.5% in the fourth quarter. First National Trust Co now owns 18,449 shares of the specialty retailer’s stock worth $2,154,000 after acquiring an additional 264 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Down 3.2 %

GPC stock opened at $120.60 on Friday. 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 has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a 50-day moving average of $120.93 and a two-hundred day moving average of $125.00. The stock has a market capitalization of $16.74 billion, a price-to-earnings ratio of 18.64 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the prior year, the company earned $2.26 earnings per share. As a group, equities research analysts anticipate that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is presently 63.68%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GPC. Evercore ISI dropped their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Truist Financial upped their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Loop Capital started coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $137.63.

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.