Genuine Parts (NYSE:GPC) Holdings Raised by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV increased its stake in shares of Genuine Parts (NYSE:GPC) by 6.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,101 shares of the specialty retailer’s stock after acquiring an additional 357 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Genuine Parts were worth $712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in Genuine Parts during the 4th quarter worth $28,000. First Command Advisory Services Inc. bought a new position in shares of Genuine Parts in the fourth quarter worth $28,000. Compass Planning Associates Inc bought a new position in shares of Genuine Parts in the fourth quarter worth $29,000. Synergy Asset Management LLC bought a new position in shares of Genuine Parts in the fourth quarter worth $32,000. Finally, OFI Invest Asset Management bought a new position in shares of Genuine Parts in the fourth quarter worth $34,000. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Truist Financial increased their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Evercore ISI decreased their price target 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, Loop Capital started coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $137.63.

Genuine Parts Trading Up 0.4 %

Shares of Genuine Parts stock opened at $123.98 on Wednesday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The firm has a market cap of $17.21 billion, a price-to-earnings ratio of 19.16 and a beta of 0.93. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The business has a fifty day simple moving average of $120.68 and a 200-day simple moving average of $125.03.

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

Genuine Parts Increases Dividend

The firm 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. This represents a $4.12 annualized dividend and a yield of 3.32%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s payout ratio is presently 63.68%.

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.