Korea Investment CORP Has $9.05 Million Stake in Genuine Parts (NYSE:GPC)

Korea Investment CORP increased its stake in Genuine Parts (NYSE:GPC) by 38.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,483 shares of the specialty retailer’s stock after purchasing an additional 21,600 shares during the period. Korea Investment CORP’s holdings in Genuine Parts were worth $9,047,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Genuine Parts by 13.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,886 shares of the specialty retailer’s stock worth $4,314,000 after buying an additional 3,601 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of Genuine Parts by 15.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 6,068 shares of the specialty retailer’s stock worth $848,000 after acquiring an additional 800 shares in the last quarter. Verition Fund Management LLC raised its holdings in shares of Genuine Parts by 6.6% in the third quarter. Verition Fund Management LLC now owns 18,631 shares of the specialty retailer’s stock valued at $2,602,000 after purchasing an additional 1,151 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Genuine Parts by 1,038.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock worth $38,803,000 after purchasing an additional 253,400 shares in the last quarter. Finally, Benjamin Edwards Inc. acquired a new position in Genuine Parts during the third quarter worth $1,237,000. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

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

Genuine Parts Stock Performance

GPC opened at $119.27 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The business has a 50 day moving average of $121.14 and a 200-day moving average of $123.88. The stock has a market cap of $16.55 billion, a price-to-earnings ratio of 18.43 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last announced its quarterly 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. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter last year, the firm posted $2.26 EPS. On average, equities research analysts expect that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a $1.03 dividend. The ex-dividend date is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.45%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. 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.