Meiji Yasuda Asset Management Co Ltd. Increases Stock Position in Genuine Parts (NYSE:GPC)

Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Genuine Parts (NYSE:GPC) by 20.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 64,215 shares of the specialty retailer’s stock after purchasing an additional 11,100 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Genuine Parts were worth $7,498,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ICW Investment Advisors LLC grew its stake in Genuine Parts by 1.7% in the 4th quarter. ICW Investment Advisors LLC now owns 8,839 shares of the specialty retailer’s stock valued at $1,032,000 after purchasing an additional 149 shares during the period. LPL Financial LLC boosted its holdings in Genuine Parts by 17.3% in the 4th quarter. LPL Financial LLC now owns 196,887 shares of the specialty retailer’s stock worth $22,988,000 after buying an additional 29,042 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Genuine Parts in the 4th quarter valued at approximately $5,575,000. Mizuho Securities USA LLC raised its holdings in Genuine Parts by 45.9% during the 4th quarter. Mizuho Securities USA LLC now owns 13,177 shares of the specialty retailer’s stock valued at $1,539,000 after acquiring an additional 4,143 shares during the period. Finally, Virtu Financial LLC boosted its holdings in shares of Genuine Parts by 414.2% in the fourth quarter. Virtu Financial LLC now owns 8,053 shares of the specialty retailer’s stock worth $940,000 after acquiring an additional 6,487 shares during the period. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Performance

Shares of GPC stock opened at $120.80 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The company’s fifty day moving average price is $121.07 and its 200-day moving average price is $124.47. The stock has a market cap of $16.77 billion, a PE ratio of 18.67 and a beta of 0.93. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same period in the previous year, the company posted $2.26 earnings per share. On average, equities analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.41%. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is 63.68%.

Analyst Ratings Changes

Several research analysts have commented on GPC shares. Loop Capital began coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Evercore ISI lowered their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Finally, Truist Financial boosted their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and an average price target of $137.63.

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.