Genuine Parts Company $GPC Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Genuine Parts Company (NYSE:GPC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 53,034 shares of the specialty retailer’s stock, valued at approximately $6,668,000.

Several other hedge funds have also modified their holdings of GPC. Compass Wealth Management LLC bought a new stake in shares of Genuine Parts in the 3rd quarter valued at about $25,000. Elevation Wealth Partners LLC grew its position in shares of Genuine Parts by 510.9% in the 2nd quarter. Elevation Wealth Partners LLC now owns 281 shares of the specialty retailer’s stock worth $33,000 after buying an additional 235 shares during the last quarter. Latitude Advisors LLC purchased a new position in shares of Genuine Parts in the 3rd quarter worth approximately $37,000. EFG International AG bought a new position in shares of Genuine Parts during the 2nd quarter worth approximately $36,000. Finally, Clearstead Trust LLC bought a new position in shares of Genuine Parts during the 2nd quarter worth approximately $48,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $124.65 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.54 and a current ratio of 1.22. The company has a market cap of $17.19 billion, a PE ratio of 498.60, a P/E/G ratio of 2.77 and a beta of 0.65. The business has a 50-day simple moving average of $129.16 and a two-hundred day simple moving average of $120.06. Genuine Parts Company has a fifty-two week low of $90.78 and a fifty-two week high of $151.57.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, October 20th. The specialty retailer reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.03. Genuine Parts had a return on equity of 23.00% and a net margin of 0.12%. The business had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.49 billion. During the same quarter in the previous year, the firm earned $1.98 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. As a group, equities analysts expect that Genuine Parts Company will post 7.62 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 4th were given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, September 4th. Genuine Parts’s payout ratio is currently 1,700.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. DA Davidson increased their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Truist Financial raised their target price on shares of Genuine Parts from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Tuesday, October 20th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $165.00 price target on shares of Genuine Parts in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research report on Monday, September 21st. Finally, The Goldman Sachs Group set a $122.00 price objective on Genuine Parts in a report on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Genuine Parts presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

About Genuine Parts

Genuine Parts Company (NYSE:GPC) is a distributor of automotive and industrial replacement parts. Its Automotive Parts Group supplies components and accessories for cars, trucks and other vehicles, serving professional repair shops, commercial customers and do-it-yourself consumers through distribution networks, stores and digital channels.

The company’s Industrial Parts Group distributes products used to maintain and repair manufacturing, commercial and other industrial equipment. Its offerings include bearings, power-transmission components, motion-control products, industrial supplies and related maintenance, repair and operations products.