Genuine Parts (NYSE:GPC) Shares Acquired by BNP Paribas Arbitrage SNC

BNP Paribas Arbitrage SNC increased its stake in Genuine Parts (NYSE:GPC – Get Rating) by 566.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 115,222 shares of the specialty retailer’s stock after acquiring an additional 97,930 shares during the quarter. BNP Paribas Arbitrage SNC owned approximately 0.08% of Genuine Parts worth $17,205,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GPC. Ieq Capital LLC boosted its position in shares of Genuine Parts by 40.0% in the third quarter. Ieq Capital LLC now owns 4,629 shares of the specialty retailer’s stock worth $691,000 after buying an additional 1,323 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in Genuine Parts by 55.6% during the third quarter. Mercer Global Advisors Inc. ADV now owns 37,288 shares of the specialty retailer’s stock valued at $5,515,000 after purchasing an additional 13,323 shares during the last quarter. Financial Counselors Inc. boosted its position in Genuine Parts by 1.1% during the third quarter. Financial Counselors Inc. now owns 22,163 shares of the specialty retailer’s stock valued at $3,309,000 after purchasing an additional 246 shares during the last quarter. Trust Co. of Vermont boosted its position in Genuine Parts by 15.6% during the third quarter. Trust Co. of Vermont now owns 11,105 shares of the specialty retailer’s stock valued at $1,658,000 after purchasing an additional 1,502 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in Genuine Parts by 1.4% during the third quarter. Mutual of America Capital Management LLC now owns 19,591 shares of the specialty retailer’s stock valued at $2,925,000 after purchasing an additional 272 shares during the last quarter. 78.14% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Price Performance

NYSE GPC opened at $163.80 on Wednesday. Genuine Parts has a fifty-two week low of $122.90 and a fifty-two week high of $187.73. The stock’s 50-day moving average is $170.53 and its two-hundred day moving average is $169.53. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.15 and a quick ratio of 0.57. The firm has a market cap of $23.06 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 1.82 and a beta of 0.90.

Genuine Parts (NYSE:GPC – Get Rating) last posted its earnings results on Thursday, February 23rd. The specialty retailer reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.15. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.33 billion. Genuine Parts had a return on equity of 32.22% and a net margin of 5.35%. The business’s revenue was up 15.0% compared to the same quarter last year. During the same period last year, the company earned $1.79 earnings per share. On average, analysts anticipate that Genuine Parts will post 8.93 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Friday, March 3rd will be paid a $0.95 dividend. The ex-dividend date of this dividend is Thursday, March 2nd. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.90. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.32%. Genuine Parts’s payout ratio is presently 45.73%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wedbush reissued a “neutral” rating on shares of Genuine Parts in a research report on Friday, February 24th. The Goldman Sachs Group lifted their price objective on Genuine Parts from $147.00 to $157.00 and gave the company a “sell” rating in a research report on Thursday, February 23rd. Finally, Truist Financial raised their target price on Genuine Parts from $170.00 to $186.00 and gave the company a “hold” rating in a report on Friday, February 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Genuine Parts currently has a consensus rating of “Hold” and a consensus price target of $152.20.

About Genuine Parts

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Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group, Industrial Parts Group, and Corporate. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.