Genuine Parts (NYSE:GPC) Short Interest Update

Genuine Parts (NYSE:GPC) saw a significant decline in short interest in March. As of March 15th, there was short interest totalling 4,430,000 shares, a decline of 18.6% from the February 28th total of 5,440,000 shares. Based on an average daily trading volume, of 1,550,000 shares, the short-interest ratio is currently 2.9 days. Currently, 3.2% of the shares of the stock are short sold.

Genuine Parts Trading Up 1.5 %

NYSE:GPC traded up $1.72 during mid-day trading on Wednesday, hitting $120.17. 1,078,396 shares of the stock traded hands, compared to its average volume of 1,217,214. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The stock has a market capitalization of $16.68 billion, a price-to-earnings ratio of 18.57 and a beta of 0.93. The firm’s 50 day moving average is $121.16 and its two-hundred day moving average is $123.72.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the prior year, the firm posted $2.26 earnings per share. On average, equities research analysts predict that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is currently 63.68%.

Institutional Investors Weigh In On Genuine Parts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GPC. Millstone Evans Group LLC bought a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $25,000. Kestra Investment Management LLC bought a new stake in Genuine Parts during the 4th quarter valued at $28,000. First Command Advisory Services Inc. purchased a new stake in shares of Genuine Parts in the 4th quarter worth $28,000. Compass Planning Associates Inc bought a new position in shares of Genuine Parts during the 4th quarter worth $29,000. Finally, Synergy Asset Management LLC purchased a new position in shares of Genuine Parts during the fourth quarter valued at $32,000. Institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

GPC has been the topic of a number of research reports. Evercore ISI lifted their price objective on Genuine Parts from $125.00 to $128.00 and gave the stock an “in-line” rating in a research note on Tuesday. Truist Financial boosted 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. Loop Capital began coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $114.00 target price (down from $133.00) on shares of Genuine Parts in a research report on Tuesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $135.00.

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.