BI Asset Management Fondsmaeglerselskab A S Purchases 4,915 Shares of Genuine Parts Company $GPC

BI Asset Management Fondsmaeglerselskab A S lifted its position in Genuine Parts Company (NYSE:GPC) by 84.4% during the third quarter, Holdings Channel reports. The institutional investor owned 10,740 shares of the specialty retailer’s stock after buying an additional 4,915 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Genuine Parts were worth $1,489,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Genuine Parts in the 2nd quarter worth $211,661,000. Federated Hermes Inc. acquired a new position in Genuine Parts during the 2nd quarter valued at about $107,015,000. Nomura Holdings Inc. raised its stake in Genuine Parts by 142.1% in the second quarter. Nomura Holdings Inc. now owns 529,330 shares of the specialty retailer’s stock valued at $64,213,000 after buying an additional 310,715 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in Genuine Parts by 98.0% in the second quarter. Pzena Investment Management LLC now owns 596,051 shares of the specialty retailer’s stock worth $72,307,000 after acquiring an additional 295,064 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Genuine Parts by 1.5% during the second quarter. Vanguard Group Inc. now owns 17,309,178 shares of the specialty retailer’s stock worth $2,099,776,000 after acquiring an additional 260,787 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GPC shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research report on Monday, December 29th. The Goldman Sachs Group raised shares of Genuine Parts from a “sell” rating to a “neutral” rating and raised their price target for the stock from $130.00 to $142.00 in a report on Thursday, November 13th. JPMorgan Chase & Co. boosted their price objective on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Finally, Truist Financial upped their target price on Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Genuine Parts Stock Up 1.5%

Shares of GPC opened at $148.42 on Monday. The company has a market capitalization of $20.65 billion, a price-to-earnings ratio of 25.55 and a beta of 0.74. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $148.58. The stock’s 50-day moving average price is $131.63 and its 200-day moving average price is $133.03. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.78.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Friday, December 5th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, December 5th. Genuine Parts’s dividend payout ratio is currently 70.91%.

About Genuine Parts

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.