Genuine Parts (GPC) Stake Raised by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Genuine Parts (NYSE:GPC) by 20.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,941 shares of the specialty retailer’s stock after purchasing an additional 842 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Genuine Parts were worth $475,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc increased its position in shares of Genuine Parts by 1.3% during the third quarter. Vanguard Group Inc now owns 14,954,369 shares of the specialty retailer’s stock worth $1,486,465,000 after buying an additional 191,348 shares during the period. Jane Street Group LLC increased its position in shares of Genuine Parts by 1,179.5% during the third quarter. Jane Street Group LLC now owns 61,530 shares of the specialty retailer’s stock worth $6,116,000 after buying an additional 56,721 shares during the period. Albion Financial Group UT acquired a new stake in shares of Genuine Parts during the fourth quarter worth $1,438,000. IFM Investors Pty Ltd increased its position in shares of Genuine Parts by 3.4% during the fourth quarter. IFM Investors Pty Ltd now owns 8,310 shares of the specialty retailer’s stock worth $798,000 after buying an additional 272 shares during the period. Finally, Comerica Securities Inc. acquired a new stake in shares of Genuine Parts during the fourth quarter worth $256,000. Institutional investors own 74.76% of the company’s stock.

Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a research note on Friday, January 4th. ValuEngine raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Tuesday, February 19th. Wedbush reissued a “neutral” rating on shares of Genuine Parts in a research note on Tuesday, January 15th. Finally, Bank of America raised shares of Genuine Parts from an “underperform” rating to a “neutral” rating in a research note on Wednesday, January 9th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Genuine Parts has a consensus rating of “Hold” and an average price target of $102.00.

Shares of NYSE GPC opened at $107.05 on Friday. The firm has a market cap of $15.62 billion, a P/E ratio of 18.85, a P/E/G ratio of 3.46 and a beta of 1.03. Genuine Parts has a 12-month low of $85.80 and a 12-month high of $112.18. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.67 and a current ratio of 1.28.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, February 19th. The specialty retailer reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.03. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.56 billion. Genuine Parts had a net margin of 4.33% and a return on equity of 23.45%. Genuine Parts’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 earnings per share. Equities research analysts predict that Genuine Parts will post 5.94 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 8th will be paid a dividend of $0.7625 per share. The ex-dividend date of this dividend is Thursday, March 7th. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.72. This represents a $3.05 annualized dividend and a yield of 2.85%. Genuine Parts’s dividend payout ratio is currently 53.70%.

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Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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