UniSuper Management Pty Ltd Buys 4,390 Shares of Genuine Parts (NYSE:GPC)

UniSuper Management Pty Ltd boosted its position in Genuine Parts (NYSE:GPC) by 30.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,578 shares of the specialty retailer’s stock after acquiring an additional 4,390 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Genuine Parts were worth $2,169,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in GPC. Elo Mutual Pension Insurance Co raised its holdings in shares of Genuine Parts by 15.4% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 14,282 shares of the specialty retailer’s stock valued at $1,668,000 after buying an additional 1,908 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in Genuine Parts during the fourth quarter valued at approximately $19,966,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Genuine Parts by 16.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 283,812 shares of the specialty retailer’s stock worth $33,166,000 after acquiring an additional 40,588 shares in the last quarter. Korea Investment CORP boosted its stake in shares of Genuine Parts by 38.7% in the 4th quarter. Korea Investment CORP now owns 77,483 shares of the specialty retailer’s stock valued at $9,047,000 after purchasing an additional 21,600 shares in the last quarter. Finally, TrueMark Investments LLC grew its holdings in shares of Genuine Parts by 9.1% during the 4th quarter. TrueMark Investments LLC now owns 21,752 shares of the specialty retailer’s stock valued at $2,540,000 after purchasing an additional 1,817 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of GPC stock opened at $118.49 on Monday. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The stock has a fifty day moving average of $121.13 and a 200 day moving average of $124.00. The firm has a market capitalization of $16.44 billion, a price-to-earnings ratio of 18.31 and a beta of 0.93. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the previous year, the firm posted $2.26 EPS. As a group, research analysts expect that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be given a $1.03 dividend. The ex-dividend date is Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.48%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio is currently 63.68%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Loop Capital began coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price for the company. Evercore ISI decreased their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Finally, Truist Financial increased their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and an average price target of $137.63.

About Genuine Parts

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.