BI Asset Management Fondsmaeglerselskab A S Has $934,000 Stock Holdings in Genuine Parts (NYSE:GPC)

BI Asset Management Fondsmaeglerselskab A S boosted its position in Genuine Parts (NYSE:GPC) by 124.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,029 shares of the specialty retailer’s stock after buying an additional 3,341 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Genuine Parts were worth $934,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WD Rutherford LLC acquired a new stake in Genuine Parts in the 1st quarter valued at approximately $26,000. Assetmark Inc. raised its position in Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 96 shares during the last quarter. Union Savings Bank raised its position in Genuine Parts by 100.0% in the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 100 shares during the last quarter. Thompson Investment Management Inc. acquired a new stake in Genuine Parts in the 1st quarter valued at approximately $35,000. Finally, Stephens Consulting LLC raised its position in Genuine Parts by 740.7% in the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on GPC shares. Jefferies Financial Group boosted their price target on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. UBS Group lowered their price target 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. Wedbush reaffirmed a “neutral” rating and set a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Finally, Truist Financial boosted their price target on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $167.75.

Genuine Parts Stock Performance

GPC traded up $0.32 during trading on Wednesday, hitting $131.36. The stock had a trading volume of 181,714 shares, compared to its average volume of 987,415. The company has a 50 day moving average price of $144.65 and a 200-day moving average price of $146.32. The firm has a market cap of $18.30 billion, a price-to-earnings ratio of 14.60 and a beta of 0.92. Genuine Parts has a one year low of $126.35 and a one year high of $170.57. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.07. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $2.14 EPS. As a group, research analysts predict that Genuine Parts will post 9.92 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently declared 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 was Friday, June 7th. This represents a $4.00 annualized dividend and a yield of 3.05%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Insider Activity

In other news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the sale, the director now directly owns 13,006 shares in the company, valued at approximately $1,967,677.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Profile

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.