Blueshift Asset Management LLC Has $1.96 Million Stake in Genuine Parts (NYSE:GPC)

Blueshift Asset Management LLC grew its holdings in Genuine Parts (NYSE:GPC) by 25.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,818 shares of the specialty retailer’s stock after purchasing an additional 3,444 shares during the quarter. Genuine Parts comprises 0.7% of Blueshift Asset Management LLC’s portfolio, making the stock its 20th biggest holding. Blueshift Asset Management LLC’s holdings in Genuine Parts were worth $1,964,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in Genuine Parts in the 4th quarter valued at approximately $28,000. First Command Advisory Services Inc. bought a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $28,000. Compass Planning Associates Inc acquired a new stake in shares of Genuine Parts in the fourth quarter worth $29,000. Synergy Asset Management LLC acquired a new stake in shares of Genuine Parts in the fourth quarter worth $32,000. Finally, OFI Invest Asset Management bought a new position in Genuine Parts during the fourth quarter worth $34,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Up 0.6 %

NYSE GPC opened at $124.72 on Thursday. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The stock’s 50 day moving average is $120.84 and its two-hundred day moving average is $125.03. The company has a market capitalization of $17.31 billion, a price-to-earnings ratio of 19.28 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the previous year, the firm earned $2.26 EPS. Equities analysts forecast that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.30%. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is 63.68%.

Analyst Upgrades and Downgrades

GPC has been the topic of several research analyst reports. Truist Financial raised their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Evercore ISI cut their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Finally, Loop Capital started coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and an average target price of $137.63.

Genuine Parts 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.