Corebridge Financial Inc. Has $3.84 Million Position in Genuine Parts (NYSE:GPC)

Corebridge Financial Inc. lessened its stake in shares of Genuine Parts (NYSE:GPC) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,921 shares of the specialty retailer’s stock after selling 1,668 shares during the period. Corebridge Financial Inc.’s holdings in Genuine Parts were worth $3,844,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Millstone Evans Group LLC bought a new position in Genuine Parts in the 4th quarter worth $25,000. Kestra Investment Management LLC bought a new position in shares of Genuine Parts in the fourth quarter worth about $28,000. First Command Advisory Services Inc. acquired a new position in shares of Genuine Parts during the 4th quarter worth about $28,000. Compass Planning Associates Inc bought a new stake in Genuine Parts during the 4th quarter valued at approximately $29,000. Finally, Synergy Asset Management LLC acquired a new stake in Genuine Parts in the 4th quarter valued at approximately $32,000. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Genuine Parts Price Performance

Shares of Genuine Parts stock opened at $118.49 on Monday. The firm has a market cap of $16.44 billion, a P/E ratio of 18.31 and a beta of 0.93. The firm’s 50-day simple moving average is $121.13 and its 200-day simple moving average is $124.00. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data 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 return on equity of 25.28% and a net margin of 3.85%. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the previous year, the business earned $2.26 earnings per share. As a group, research analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

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

Genuine Parts Company 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.