Mirae Asset Global Investments Co. Ltd. Acquires 4,997 Shares of Genuine Parts (NYSE:GPC)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Genuine Parts (NYSE:GPCFree Report) by 21.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,954 shares of the specialty retailer’s stock after acquiring an additional 4,997 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Genuine Parts were worth $4,444,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its holdings in shares of Genuine Parts by 13.5% during the third quarter. The Manufacturers Life Insurance Company now owns 129,929 shares of the specialty retailer’s stock worth $18,759,000 after acquiring an additional 15,446 shares during the period. Tudor Investment Corp Et Al lifted its holdings in shares of Genuine Parts by 199.2% in the third quarter. Tudor Investment Corp Et Al now owns 22,315 shares of the specialty retailer’s stock valued at $3,222,000 after purchasing an additional 14,856 shares in the last quarter. Diversified Trust Co boosted its position in shares of Genuine Parts by 14.0% during the third quarter. Diversified Trust Co now owns 6,089 shares of the specialty retailer’s stock worth $879,000 after buying an additional 748 shares during the period. Comerica Bank grew its holdings in shares of Genuine Parts by 91,580.0% during the third quarter. Comerica Bank now owns 100,848 shares of the specialty retailer’s stock worth $14,561,000 after buying an additional 100,738 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its position in Genuine Parts by 12.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 15,050 shares of the specialty retailer’s stock valued at $2,173,000 after buying an additional 1,640 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the sale, the director now owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.37% of the company’s stock.

Genuine Parts Trading Up 1.1 %

Shares of Genuine Parts stock opened at $132.48 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The firm has a 50-day moving average of $144.17 and a 200-day moving average of $146.22. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $170.57. The stock has a market cap of $18.45 billion, a PE ratio of 14.77 and a beta of 0.92.

Genuine Parts (NYSE:GPCGet Free Report) last posted its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the company earned $2.14 EPS. As a group, sell-side analysts forecast that Genuine Parts will post 9.92 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a yield of 3.02%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Analysts Set New Price Targets

GPC has been the subject of several research reports. Evercore ISI decreased their price target on shares of Genuine Parts from $165.00 to $160.00 and set an “in-line” rating for the company in a research note on Tuesday, July 2nd. Truist Financial lifted their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Jefferies Financial Group increased their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. UBS Group lowered their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Finally, StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $167.75.

View Our Latest Stock Report on GPC

Genuine Parts Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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