Kinloch Capital LLC Raises Stock Position in Genuine Parts (NYSE:GPC)

Kinloch Capital LLC grew its position in shares of Genuine Parts (NYSE:GPC) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,504 shares of the specialty retailer’s stock after purchasing an additional 671 shares during the quarter. Kinloch Capital LLC’s holdings in Genuine Parts were worth $2,511,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lantern Wealth Advisors LLC purchased a new position in Genuine Parts during the fourth quarter worth approximately $213,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Genuine Parts by 9.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,379,368 shares of the specialty retailer’s stock worth $161,055,000 after acquiring an additional 118,783 shares in the last quarter. Voloridge Investment Management LLC raised its stake in Genuine Parts by 4,373.2% in the fourth quarter. Voloridge Investment Management LLC now owns 127,845 shares of the specialty retailer’s stock valued at $14,927,000 after buying an additional 124,987 shares in the last quarter. Woodline Partners LP acquired a new stake in Genuine Parts during the 4th quarter worth $975,000. Finally, Zurich Insurance Group Ltd FI increased its holdings in shares of Genuine Parts by 27.7% in the 4th quarter. Zurich Insurance Group Ltd FI now owns 19,788 shares of the specialty retailer’s stock valued at $2,310,000 after acquiring an additional 4,288 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Evercore ISI reduced their target price on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Truist Financial boosted their price objective on shares of Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. Argus upgraded Genuine Parts to a “strong-buy” rating in a report on Friday, April 25th. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Saturday, April 26th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Genuine Parts presently has an average rating of “Moderate Buy” and an average price target of $130.86.

Genuine Parts Stock Performance

GPC opened at $129.18 on Tuesday. The firm has a market cap of $17.93 billion, a PE ratio of 19.97 and a beta of 0.76. 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 $117.96 and a 200-day simple moving average of $119.87. Genuine Parts has a fifty-two week low of $104.01 and a fifty-two week high of $153.44.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.83 billion. As a group, equities analysts predict that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 67.65%.

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.