Genuine Parts (NYSE:GPC) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its holdings in Genuine Parts (NYSE:GPC) by 1,368.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,955 shares of the specialty retailer’s stock after purchasing an additional 63,328 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Genuine Parts were worth $7,934,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GPC. Ashton Thomas Securities LLC acquired a new position in Genuine Parts during the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new position in Genuine Parts in the 3rd quarter worth $31,000. Concord Wealth Partners lifted its position in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 119 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of Genuine Parts in the third quarter valued at about $44,000. Finally, Armstrong Advisory Group Inc. raised its stake in shares of Genuine Parts by 63.8% in the third quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 141 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 0.8 %

NYSE GPC opened at $118.43 on Monday. The business has a fifty day moving average price of $120.69 and a 200 day moving average price of $130.37. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The company has a market cap of $16.47 billion, a P/E ratio of 15.24 and a beta of 0.95. Genuine Parts has a one year low of $112.74 and a one year high of $164.45.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. Genuine Parts’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $2.49 earnings per share. Research analysts anticipate that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.38%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Analyst Ratings Changes

A number of equities research analysts recently commented on GPC shares. Loop Capital initiated coverage on Genuine Parts in a research report on Thursday. They issued a “buy” rating and a $155.00 target price on the stock. JPMorgan Chase & Co. cut their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Evercore ISI increased their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. UBS Group cut their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, Wedbush decreased their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Genuine Parts presently has a consensus rating of “Hold” and a consensus target price of $141.50.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.37% of the company’s stock.

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.