Stifel Financial Corp Has $292.23 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Stifel Financial Corp lifted its holdings in shares of Genuine Parts (NYSE:GPC) by 21.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,502,852 shares of the specialty retailer’s stock after acquiring an additional 445,259 shares during the period. Stifel Financial Corp’s holdings in Genuine Parts were worth $292,233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GPC. Hartford Financial Management Inc. increased its stake in Genuine Parts by 0.5% during the 4th quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock valued at $2,185,000 after purchasing an additional 99 shares in the last quarter. New York Life Investment Management LLC increased its position in shares of Genuine Parts by 0.6% during the fourth quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer’s stock worth $2,188,000 after acquiring an additional 108 shares in the last quarter. Grimes & Company Inc. raised its holdings in shares of Genuine Parts by 3.3% in the 4th quarter. Grimes & Company Inc. now owns 3,494 shares of the specialty retailer’s stock worth $408,000 after acquiring an additional 111 shares during the last quarter. Pinnacle Financial Partners Inc lifted its position in Genuine Parts by 2.5% in the 4th quarter. Pinnacle Financial Partners Inc now owns 4,630 shares of the specialty retailer’s stock valued at $541,000 after acquiring an additional 115 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Genuine Parts by 1.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,512 shares of the specialty retailer’s stock valued at $877,000 after purchasing an additional 128 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GPC shares. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday. Loop Capital started coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective on the stock. Truist Financial upped their target price 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. Evercore ISI raised shares of Genuine Parts from an “in-line” rating to an “outperform” rating and raised their price target for the company from $128.00 to $135.00 in a research report on Friday, April 4th. Finally, Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.00.

Genuine Parts Stock Performance

NYSE:GPC opened at $114.02 on Monday. Genuine Parts has a 1 year low of $104.01 and a 1 year high of $163.86. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The business has a fifty day simple moving average of $119.81 and a two-hundred day simple moving average of $121.22. The company has a market capitalization of $15.82 billion, a P/E ratio of 17.62 and a beta of 0.82.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data 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 net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the prior year, the firm earned $2.26 earnings per share. On average, analysts expect that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were issued a $1.03 dividend. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 63.68%.

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.