Cinctive Capital Management LP Takes $9.03 Million Position in Genuine Parts (NYSE:GPC)

Cinctive Capital Management LP purchased a new position in Genuine Parts (NYSE:GPC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 77,338 shares of the specialty retailer’s stock, valued at approximately $9,030,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new position in shares of Genuine Parts during the fourth quarter valued at about $25,000. Kestra Investment Management LLC purchased a new position in shares of Genuine Parts during the fourth quarter valued at approximately $28,000. First Command Advisory Services Inc. bought a new position in shares of Genuine Parts during the fourth quarter valued at approximately $28,000. Compass Planning Associates Inc purchased a new stake in Genuine Parts in the fourth quarter worth $29,000. Finally, Synergy Asset Management LLC purchased a new position in Genuine Parts during the 4th quarter valued at $32,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.5 %

NYSE:GPC opened at $118.59 on Wednesday. The firm has a 50-day simple moving average of $121.11 and a two-hundred day simple moving average of $123.75. The firm has a market cap of $16.46 billion, a P/E ratio of 18.33 and a beta of 0.93. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week 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 announced its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping 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 company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period in the previous year, the business earned $2.26 EPS. Analysts predict that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.47%. Genuine Parts’s dividend payout ratio (DPR) is 63.68%.

Analyst Ratings Changes

GPC has been the subject of several research analyst reports. Truist Financial raised their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group restated a “sell” rating and issued a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a report on Tuesday. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Finally, Evercore ISI boosted their target price on shares of Genuine Parts from $125.00 to $128.00 and gave the company an “in-line” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $135.00.

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.