Proficio Capital Partners LLC Makes New Investment in Genuine Parts (NYSE:GPC)

Proficio Capital Partners LLC acquired a new position in Genuine Parts (NYSE:GPC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 187,050 shares of the specialty retailer’s stock, valued at approximately $21,840,000. Proficio Capital Partners LLC owned approximately 0.13% of Genuine Parts at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantinno Capital Management LP increased its position in Genuine Parts by 74.0% in the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after buying an additional 4,809 shares in the last quarter. Caprock Group LLC bought a new position in shares of Genuine Parts during the 4th quarter valued at approximately $540,000. Miramar Capital LLC increased its holdings in Genuine Parts by 9.8% in the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock worth $12,264,000 after acquiring an additional 7,845 shares in the last quarter. Verity & Verity LLC raised its stake in Genuine Parts by 9.7% during the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after acquiring an additional 9,199 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Genuine Parts by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock valued at $42,417,000 after purchasing an additional 56,776 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Genuine Parts Stock Up 2.3 %

Shares of GPC opened at $122.16 on Friday. The stock has a market capitalization of $16.95 billion, a price-to-earnings ratio of 18.88 and a beta of 0.93. The business’s 50 day simple moving average is $120.41 and its 200-day simple moving average is $125.54. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. Genuine Parts has a 1 year low of $112.74 and a 1 year 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 (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.07. The firm had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same period in the prior year, the company earned $2.26 EPS. As a group, equities analysts expect that Genuine Parts will post 7.9 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 Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be issued a $1.03 dividend. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.37%. Genuine Parts’s payout ratio is 63.68%.

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.