Mather Group LLC. Increases Position in Genuine Parts (NYSE:GPC)

Mather Group LLC. grew its stake in Genuine Parts (NYSE:GPC – Get Rating) by 4.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,729 shares of the specialty retailer’s stock after acquiring an additional 115 shares during the quarter. Mather Group LLC.’s holdings in Genuine Parts were worth $407,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Genuine Parts by 47.2% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 42,438 shares of the specialty retailer’s stock valued at $6,337,000 after acquiring an additional 13,601 shares during the period. Verity Asset Management Inc. acquired a new stake in Genuine Parts during the 3rd quarter worth about $274,000. Washington Trust Bank purchased a new position in shares of Genuine Parts during the 3rd quarter valued at about $212,000. BNP Paribas Arbitrage SNC raised its stake in shares of Genuine Parts by 566.3% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 115,222 shares of the specialty retailer’s stock valued at $17,205,000 after buying an additional 97,930 shares during the last quarter. Finally, WA Asset Management LLC purchased a new position in shares of Genuine Parts during the 3rd quarter valued at about $1,881,000. 78.14% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

NYSE:GPC opened at $163.80 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.15 and a quick ratio of 0.57. Genuine Parts has a 12 month low of $122.90 and a 12 month high of $187.73. The firm has a market capitalization of $23.06 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 1.82 and a beta of 0.90. The business’s fifty day moving average price is $170.53 and its 200 day moving average price is $169.53.

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

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 3rd will be issued a $0.95 dividend. The ex-dividend date is Thursday, March 2nd. This is a boost from Genuine Parts’s previous quarterly dividend of $0.90. This represents a $3.80 dividend on an annualized basis and a yield of 2.32%. Genuine Parts’s dividend payout ratio (DPR) is 45.73%.

Wall Street Analysts Forecast Growth

GPC has been the subject of several recent analyst reports. Truist Financial lifted their price target on Genuine Parts from $170.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, February 24th. Wedbush restated a “neutral” rating on shares of Genuine Parts in a report on Friday, February 24th. Finally, The Goldman Sachs Group boosted their target price on Genuine Parts from $147.00 to $157.00 and gave the stock a “sell” rating in a report on Thursday, February 23rd. 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $152.20.

Genuine Parts Company Profile

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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.