Genuine Parts (NYSE:GPC) Shares Acquired by Toroso Investments LLC

Toroso Investments LLC raised its holdings in shares of Genuine Parts (NYSE:GPC – Get Rating) by 266.3% in the third quarter, Holdings Channel.com reports. The firm owned 12,728 shares of the specialty retailer’s stock after buying an additional 9,253 shares during the period. Toroso Investments LLC’s holdings in Genuine Parts were worth $1,901,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Genuine Parts by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 17,760,417 shares of the specialty retailer’s stock valued at $2,651,985,000 after purchasing an additional 258,620 shares in the last quarter. State Street Corp grew its stake in Genuine Parts by 4.0% during the 2nd quarter. State Street Corp now owns 8,061,113 shares of the specialty retailer’s stock valued at $1,079,211,000 after purchasing an additional 313,090 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Genuine Parts by 4.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,860,574 shares of the specialty retailer’s stock valued at $612,531,000 after purchasing an additional 185,529 shares in the last quarter. Truist Financial Corp grew its stake in Genuine Parts by 14.8% during the 3rd quarter. Truist Financial Corp now owns 1,857,081 shares of the specialty retailer’s stock valued at $277,299,000 after purchasing an additional 239,186 shares in the last quarter. Finally, Cullen Capital Management LLC grew its stake in Genuine Parts by 2.6% during the 2nd quarter. Cullen Capital Management LLC now owns 1,708,791 shares of the specialty retailer’s stock valued at $227,269,000 after purchasing an additional 43,982 shares in the last quarter. Institutional investors and hedge funds own 78.14% of the company’s stock.

Genuine Parts Trading Up 0.9 %

Shares of NYSE GPC opened at $164.66 on Friday. The company has a market cap of $23.19 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 1.81 and a beta of 0.90. Genuine Parts has a 12-month low of $124.85 and a 12-month high of $187.73. The company has a current ratio of 1.15, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The stock’s 50 day simple moving average is $170.24 and its 200 day simple moving average is $169.54.

Genuine Parts (NYSE:GPC – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The specialty retailer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.15. The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the business posted $1.79 EPS. Equities research analysts expect that Genuine Parts will post 8.93 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 3rd will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $3.80 annualized dividend and a yield of 2.31%. This is an increase from Genuine Parts’s previous quarterly dividend of $0.90. Genuine Parts’s payout ratio is presently 45.73%.

Wall Street Analysts Forecast Growth

GPC has been the subject of several research reports. Wedbush reiterated a “neutral” rating on shares of Genuine Parts in a research report on Friday, February 24th. The Goldman Sachs Group lifted their target price on Genuine Parts from $147.00 to $157.00 and gave the stock a “sell” rating in a research report on Thursday, February 23rd. StockNews.com initiated coverage on Genuine Parts in a research report on Thursday. They issued a “buy” rating for the company. Finally, Truist Financial lifted their target price on Genuine Parts from $170.00 to $186.00 and gave the stock a “hold” rating in a research report on Friday, February 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average 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.