Zurcher Kantonalbank Zurich Cantonalbank Purchases 813 Shares of Genuine Parts (NYSE:GPC)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Genuine Parts (NYSE:GPC) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,532 shares of the specialty retailer’s stock after buying an additional 813 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Genuine Parts worth $12,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of GPC. SVB Wealth LLC raised its holdings in Genuine Parts by 26.6% in the 4th quarter. SVB Wealth LLC now owns 4,776 shares of the specialty retailer’s stock worth $662,000 after purchasing an additional 1,003 shares during the period. Hamilton Point Investment Advisors LLC raised its holdings in Genuine Parts by 2.1% in the 4th quarter. Hamilton Point Investment Advisors LLC now owns 34,737 shares of the specialty retailer’s stock worth $4,844,000 after purchasing an additional 706 shares during the period. Flputnam Investment Management Co. bought a new position in Genuine Parts in the 4th quarter worth $322,000. Mackenzie Financial Corp raised its holdings in Genuine Parts by 18.9% in the 4th quarter. Mackenzie Financial Corp now owns 33,913 shares of the specialty retailer’s stock worth $4,697,000 after purchasing an additional 5,400 shares during the period. Finally, Bison Wealth LLC raised its holdings in Genuine Parts by 4.8% in the 4th quarter. Bison Wealth LLC now owns 5,702 shares of the specialty retailer’s stock worth $790,000 after purchasing an additional 261 shares during the period. 78.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial raised their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Wedbush reiterated a “neutral” rating and issued a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a research note on Friday. Jefferies Financial Group increased their price target on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Evercore ISI cut their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $173.10.

Insider Activity

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

Genuine Parts Trading Up 1.3 %

Shares of Genuine Parts stock opened at $162.39 on Friday. The firm has a market cap of $22.64 billion, a price-to-earnings ratio of 18.10 and a beta of 0.94. The business has a 50-day moving average price of $150.30 and a 200-day moving average price of $142.34. The company has a quick ratio of 0.63, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter last year, the business posted $2.14 earnings per share. Equities research analysts anticipate that Genuine Parts will post 9.85 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $1.00 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.46%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

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.