Korea Investment CORP Buys 21,600 Shares of Genuine Parts (NYSE:GPC)

Korea Investment CORP boosted its stake in Genuine Parts (NYSE:GPC) by 38.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,483 shares of the specialty retailer’s stock after buying an additional 21,600 shares during the quarter. Korea Investment CORP owned approximately 0.06% of Genuine Parts worth $9,047,000 at the end of the most recent quarter.

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

Genuine Parts Stock Up 0.7 %

Shares of NYSE GPC opened at $119.27 on Tuesday. Genuine Parts has a 52-week low of $112.74 and a 52-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. The stock has a market cap of $16.55 billion, a P/E ratio of 18.43 and a beta of 0.93. The firm has a 50 day moving average price of $121.14 and a 200 day moving average price of $123.88.

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. The company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter in the previous year, the business earned $2.26 EPS. Analysts expect that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 represents a $4.12 dividend on an annualized basis and a dividend 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 (DPR) is currently 63.68%.

Analyst Upgrades and Downgrades

GPC has been the topic of several research reports. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Evercore ISI cut 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. Loop Capital initiated coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. Finally, Truist Financial upped their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Eight investment 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $137.63.

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.