Sumitomo Mitsui DS Asset Management Company Ltd Buys 220 Shares of Genuine Parts (NYSE:GPC)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Genuine Parts (NYSE:GPC) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,496 shares of the specialty retailer’s stock after purchasing an additional 220 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Genuine Parts were worth $1,869,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management bought a new position in shares of Genuine Parts in the 3rd quarter worth $25,000. Milestone Investment Advisors LLC bought a new position in shares of Genuine Parts in the 3rd quarter worth $28,000. Briaud Financial Planning Inc bought a new position in shares of Genuine Parts in the 3rd quarter worth $28,000. Authentikos Wealth Advisory LLC bought a new position in shares of Genuine Parts in the 3rd quarter worth $40,000. Finally, Orion Capital Management LLC bought a new position in shares of Genuine Parts in the 3rd quarter worth $42,000. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GPC. Truist Financial lifted their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Jefferies Financial Group lifted their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Wedbush reiterated a “neutral” rating and set a $170.00 target price (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Finally, Evercore ISI reduced their target price on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $173.10.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $161.80 on Thursday. The firm has a market cap of $22.54 billion, a price-to-earnings ratio of 18.04 and a beta of 0.94. The stock’s 50-day moving average is $151.08 and its 200-day moving average is $142.62. Genuine Parts has a one year low of $126.35 and a one year high of $174.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59.

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. Genuine Parts’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.14 earnings per share. Equities analysts predict that Genuine Parts will post 9.89 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a $1.00 dividend. The ex-dividend date was Thursday, February 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.47%. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s payout ratio is currently 44.59%.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.37% of the stock is owned by company insiders.

Genuine Parts Company 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.