Wellington Management Group LLP Grows Position in Genuine Parts (NYSE:GPC)

Wellington Management Group LLP raised its holdings in Genuine Parts (NYSE:GPC) by 726.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,742 shares of the specialty retailer’s stock after acquiring an additional 48,122 shares during the period. Wellington Management Group LLP’s holdings in Genuine Parts were worth $7,582,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. NBC Securities Inc. raised its holdings in shares of Genuine Parts by 27.1% during the 4th quarter. NBC Securities Inc. now owns 3,129 shares of the specialty retailer’s stock valued at $433,000 after buying an additional 668 shares in the last quarter. ICW Investment Advisors LLC raised its holdings in shares of Genuine Parts by 2.8% during the 4th quarter. ICW Investment Advisors LLC now owns 8,084 shares of the specialty retailer’s stock valued at $1,120,000 after buying an additional 221 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Genuine Parts by 22.0% during the 4th quarter. BNP Paribas Financial Markets now owns 148,121 shares of the specialty retailer’s stock valued at $20,515,000 after buying an additional 26,710 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Genuine Parts by 27.0% during the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after buying an additional 431,623 shares in the last quarter. Finally, Conning Inc. raised its holdings in shares of Genuine Parts by 5.9% during the 4th quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock valued at $31,501,000 after buying an additional 12,634 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of GPC stock opened at $138.32 on Friday. The firm has a market cap of $19.27 billion, a P/E ratio of 15.42 and a beta of 0.92. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $170.57. The business’s 50 day moving average price is $148.55 and its 200-day moving average price is $146.45. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14.

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, topping analysts’ consensus estimates of $2.15 by $0.07. The firm had revenue of $5.78 billion for 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 period last year, the company earned $2.14 EPS. On average, equities research analysts anticipate that Genuine Parts will post 9.92 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, June 7th. This represents a $4.00 annualized dividend and a dividend yield of 2.89%. Genuine Parts’s dividend payout ratio is presently 44.59%.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the sale, the director now directly owns 13,006 shares in the company, valued at $1,967,677.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GPC shares. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Jefferies Financial Group lifted 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, April 19th. Truist Financial lifted their price target on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Wedbush reaffirmed a “neutral” rating and issued a $170.00 price target (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Finally, Evercore ISI lifted their price target on Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a research note on Thursday, June 20th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $169.63.

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.