Ceeto Capital Group LLC Buys New Holdings in Genuine Parts (NYSE:GPC)

Ceeto Capital Group LLC acquired a new stake in shares of Genuine Parts (NYSE:GPC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,000 shares of the specialty retailer’s stock, valued at approximately $589,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Caprock Group LLC bought a new stake in Genuine Parts in the fourth quarter valued at approximately $540,000. Verity & Verity LLC boosted its position in Genuine Parts by 9.7% in the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock valued at $12,198,000 after buying an additional 9,199 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Genuine Parts during the fourth quarter worth $21,840,000. JPMorgan Chase & Co. lifted its stake in shares of Genuine Parts by 6.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock valued at $257,124,000 after acquiring an additional 114,180 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Genuine Parts during the 4th quarter worth $57,407,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Evercore ISI upgraded Genuine Parts from an “in-line” rating to an “outperform” rating and upped their price target for the company from $128.00 to $135.00 in a research report on Friday, April 4th. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Truist Financial lifted their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Finally, Loop Capital assumed coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Genuine Parts has an average rating of “Hold” and a consensus target price of $135.88.

Genuine Parts Trading Up 1.6 %

NYSE:GPC opened at $115.13 on Friday. The firm has a 50-day simple moving average of $120.28 and a 200-day simple moving average of $122.22. The firm has a market cap of $15.98 billion, a P/E ratio of 17.79 and a beta of 0.82. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a one year low of $104.01 and a one year high of $164.45.

Genuine Parts (NYSE:GPC) last posted 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 net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the company earned $2.26 earnings per share. Equities analysts anticipate that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were issued a dividend of $1.03 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date was Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.58%. Genuine Parts’s dividend payout ratio is presently 63.68%.

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.