Balyasny Asset Management L.P. Acquires Shares of 65,754 Genuine Parts (NYSE:GPC)

Balyasny Asset Management L.P. bought a new position in Genuine Parts (NYSE:GPC) in the 4th quarter, HoldingsChannel reports. The fund bought 65,754 shares of the specialty retailer’s stock, valued at approximately $7,677,000.

A number of other institutional investors have also made changes to their positions in the company. Millstone Evans Group LLC acquired a new position in Genuine Parts in the fourth quarter worth $25,000. Kestra Investment Management LLC acquired a new position in shares of Genuine Parts in the 4th quarter valued at about $28,000. First Command Advisory Services Inc. bought a new stake in shares of Genuine Parts during the 4th quarter valued at about $28,000. Compass Planning Associates Inc bought a new stake in shares of Genuine Parts during the 4th quarter valued at about $29,000. Finally, Synergy Asset Management LLC acquired a new stake in Genuine Parts during the fourth quarter worth about $32,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Down 0.2 %

GPC stock opened at $117.35 on Friday. The firm’s 50-day moving average is $117.95 and its two-hundred day moving average is $119.40. The company has a market capitalization of $16.29 billion, a price-to-earnings ratio of 18.14 and a beta of 0.76. Genuine Parts has a 52 week low of $104.01 and a 52 week 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 for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $5.83 billion. On average, analysts forecast that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company 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 dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Friday, June 6th. Genuine Parts’s payout ratio is currently 67.65%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GPC shares. Loop Capital began coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price for the company. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. Truist Financial raised their target price on Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $130.86.

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.