Genuine Parts (NYSE:GPC) Shares Acquired by Schroder Investment Management Group

Schroder Investment Management Group grew its stake in Genuine Parts (NYSE:GPC) by 13.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,105 shares of the specialty retailer’s stock after purchasing an additional 1,274 shares during the period. Schroder Investment Management Group’s holdings in Genuine Parts were worth $1,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in GPC. Quantinno Capital Management LP grew its holdings in Genuine Parts by 74.0% in the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock valued at $1,580,000 after buying an additional 4,809 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of Genuine Parts in the fourth quarter valued at about $540,000. Verity & Verity LLC increased its position in Genuine Parts by 9.7% during the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after purchasing an additional 9,199 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Genuine Parts during the fourth quarter worth about $21,840,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Genuine Parts by 23.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock valued at $42,417,000 after purchasing an additional 56,776 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Down 1.6 %

Shares of NYSE:GPC opened at $116.80 on Monday. The firm has a market capitalization of $16.21 billion, a PE ratio of 18.05 and a beta of 0.82. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. 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 firm’s 50-day moving average is $121.16 and its two-hundred day moving average is $123.34.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping 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 firm 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 EPS. Analysts predict that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, March 7th were issued a $1.03 dividend. The ex-dividend date was Friday, March 7th. 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 yield of 3.53%. Genuine Parts’s dividend payout ratio (DPR) is 63.68%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Loop Capital started coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 target price for the company. Truist Financial upped their price target on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group reissued a “sell” rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Finally, Evercore ISI raised shares of Genuine Parts from an “in-line” rating to an “outperform” rating and upped their target price for the company from $128.00 to $135.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $135.88.

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.