BI Asset Management Fondsmaeglerselskab A S Buys 4,915 Shares of Genuine Parts Company $GPC

BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Genuine Parts Company (NYSE:GPC) by 84.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,740 shares of the specialty retailer’s stock after purchasing an additional 4,915 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Genuine Parts were worth $1,489,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Synergy Asset Management LLC lifted its holdings in shares of Genuine Parts by 272.7% in the 3rd quarter. Synergy Asset Management LLC now owns 108,028 shares of the specialty retailer’s stock worth $14,706,000 after acquiring an additional 79,044 shares during the last quarter. Caldwell Trust Co bought a new position in Genuine Parts during the 2nd quarter valued at about $3,323,000. Prudential Financial Inc. raised its position in Genuine Parts by 5.8% in the 2nd quarter. Prudential Financial Inc. now owns 79,557 shares of the specialty retailer’s stock worth $9,651,000 after purchasing an additional 4,374 shares during the period. Vanguard Group Inc. lifted its stake in Genuine Parts by 1.5% in the second quarter. Vanguard Group Inc. now owns 17,309,178 shares of the specialty retailer’s stock worth $2,099,776,000 after purchasing an additional 260,787 shares during the last quarter. Finally, AE Wealth Management LLC lifted its stake in Genuine Parts by 7.1% in the third quarter. AE Wealth Management LLC now owns 153,578 shares of the specialty retailer’s stock worth $21,286,000 after purchasing an additional 10,121 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

Shares of GPC stock opened at $148.42 on Monday. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $148.58. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. The stock has a fifty day simple moving average of $131.63 and a two-hundred day simple moving average of $133.03. The stock has a market capitalization of $20.65 billion, a price-to-earnings ratio of 25.55 and a beta of 0.74.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Friday, December 5th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, December 5th. Genuine Parts’s payout ratio is presently 70.91%.

Analysts Set New Price Targets

A number of research firms have recently commented on GPC. The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and upped their target price for the company from $130.00 to $142.00 in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research report on Monday, December 29th. Truist Financial lifted their target price on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Genuine Parts Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.